Masimo Corp. (MASI) Reaches New 12-Month High at $59.72
Shares of Masimo Corp. (NASDAQ:MASI) hit a new 52-week high during trading on Monday . The company traded as high as $59.72 and last traded at $59.21, with a volume of 279,715 shares changing hands. The stock had previously closed at $58.24.
A number of analysts recently commented on MASI shares. Wedbush reaffirmed an “outperform” rating and set a $63.00 price target (up from $60.00) on shares of Masimo Corp. in a research report on Thursday, August 4th. Zacks Investment Research raised Masimo Corp. from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Friday, May 6th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $55.00 target price (up from $52.00) on shares of Masimo Corp. in a research report on Friday, August 5th. BTIG Research reissued a “hold” rating on shares of Masimo Corp. in a research report on Friday, August 5th. Finally, Roth Capital raised their target price on Masimo Corp. from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, May 5th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $52.60.
The company has a market capitalization of $2.91 billion and a PE ratio of 30.95. The company has a 50-day moving average price of $53.21 and a 200-day moving average price of $45.42.
Masimo Corp. (NASDAQ:MASI) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.16. The company earned $172.64 million during the quarter, compared to the consensus estimate of $166.02 million. During the same period in the prior year, the firm earned $0.36 earnings per share. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities research analysts anticipate that Masimo Corp. will post $2.02 EPS for the current fiscal year.
In other news, EVP Paul Jansen sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $58.88, for a total value of $588,800.00. Following the sale, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at approximately $588,800. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Joe E. Kiani sold 234,952 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $50.09, for a total value of $11,768,745.68. Following the completion of the sale, the chief executive officer now directly owns 313,797 shares in the company, valued at $15,718,091.73. The disclosure for this sale can be found here.
Other institutional investors have added to or reduced their stakes in the company. Trexquant Investment LP acquired a new position in Masimo Corp. during the fourth quarter valued at about $1,009,000. New York State Common Retirement Fund boosted 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 valued at $2,731,000 after buying an additional 1,300 shares during the period. Cornerstone Capital Management Holdings LLC. boosted 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 valued at $3,551,000 after buying an additional 19,147 shares during the period. State of Tennessee Treasury Department boosted its position in Masimo Corp. by 41.6% in the fourth quarter. State of Tennessee Treasury Department now owns 155,800 shares of the company’s stock valued at $6,467,000 after buying an additional 45,800 shares during the period. Finally, Matarin Capital Management LLC acquired a new position in Masimo Corp. during the fourth quarter valued at about $9,755,000.
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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