Masimo Corp. (MASI) Trading Up 2.7%
Masimo Corp. (NASDAQ:MASI) shares were up 2.7% during trading on Tuesday . The stock traded as high as $57.47 and last traded at $57.25, with a volume of 231,472 shares. The stock had previously closed at $55.72.
Several research analysts recently commented on MASI shares. Roth Capital lifted their target price on shares of Masimo Corp. from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, May 5th. Zacks Investment Research raised shares of Masimo Corp. from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Friday, May 6th. BTIG Research reiterated a “hold” rating on shares of Masimo Corp. in a report on Friday. Wedbush reiterated an “outperform” rating and issued a $63.00 price target (up previously from $60.00) on shares of Masimo Corp. in a report on Thursday, August 4th. Finally, Raymond James Financial Inc. cut shares of Masimo Corp. from a “strong-buy” rating to an “outperform” rating in a report on Wednesday, June 1st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $52.60.
The company has a market cap of $2.83 billion and a price-to-earnings ratio of 30.06. The firm’s 50 day moving average is $52.52 and its 200-day moving average is $44.94.
Masimo Corp. (NASDAQ:MASI) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.16. The business earned $172.64 million during the quarter, compared to the consensus estimate of $166.02 million. During the same quarter in the previous year, the company earned $0.36 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities analysts expect that Masimo Corp. will post $1.97 EPS for the current year.
In other news, insider Jon Coleman sold 22,000 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $56.82, for a total transaction of $1,250,040.00. Following the completion of the transaction, the insider now directly owns 10,459 shares in the company, valued at approximately $594,280.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Ramshorst David J. Van sold 5,000 shares of the stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $52.50, for a total value of $262,500.00. Following the transaction, the chief accounting officer now owns 3,000 shares of the company’s stock, valued at $157,500. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently bought and sold shares of the company. New York State Common Retirement Fund increased its position in Masimo Corp. by 2.0% in the fourth quarter. New York State Common Retirement Fund now owns 65,782 shares of the company’s stock worth $2,731,000 after buying an additional 1,300 shares in the last quarter. GSA Capital Partners LLP increased its position in Masimo Corp. by 160.1% in the fourth quarter. GSA Capital Partners LLP now owns 29,151 shares of the company’s stock worth $1,210,000 after buying an additional 17,944 shares in the last quarter. Morgan Stanley increased its position in Masimo Corp. by 3.1% in the fourth quarter. Morgan Stanley now owns 520,406 shares of the company’s stock worth $21,601,000 after buying an additional 15,718 shares in the last quarter. Cornerstone Capital Management Holdings LLC. increased its position in Masimo Corp. by 28.8% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 85,547 shares of the company’s stock worth $3,551,000 after buying an additional 19,147 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Masimo Corp. by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 307,924 shares of the company’s stock worth $12,782,000 after buying an additional 8,534 shares in the last quarter.
Masimo Corporation is a medical technology company that develops, manufactures and markets non-invasive patient monitoring products. The Company’s business is measure-through-motion and low-perfusion pulse oximetry monitoring, known as Masimo Signal Extraction Technology (SET) pulse oximetry. Its product offerings include monitoring blood constituents with an optical signature, optical organ oximetry monitoring, electrical brain function monitoring, acoustic respiration monitoring and exhaled gas monitoring.
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