Masimo Corp. (NASDAQ:MASI) has been given an average rating of “Buy” by the six analysts that are covering the firm. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $56.00.
MASI has been the topic of several analyst reports. Zacks Investment Research downgraded Masimo Corp. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 4th. BTIG Research restated a “hold” rating on shares of Masimo Corp. in a research report on Friday, August 5th. Wedbush restated an “outperform” rating and set a $63.00 target price (up from $60.00) on shares of Masimo Corp. in a research report on Thursday, August 4th. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $55.00 target price (up from $52.00) on shares of Masimo Corp. in a research report on Friday, August 5th.
Shares of Masimo Corp. (NASDAQ:MASI) traded up 0.90% during midday trading on Wednesday, reaching $59.19. The company’s stock had a trading volume of 105,456 shares. The company has a 50 day moving average price of $59.19 and a 200-day moving average price of $51.84. Masimo Corp. has a 52 week low of $33.03 and a 52 week high of $60.81. The stock has a market capitalization of $2.92 billion, a PE ratio of 31.04 and a beta of 0.70.
Masimo Corp. (NASDAQ:MASI) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.16. The company had revenue of $172.64 million for the quarter, compared to the consensus estimate of $166.02 million. Masimo Corp. had a return on equity of 29.07% and a net margin of 15.40%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. On average, equities research analysts expect that Masimo Corp. will post $2.02 EPS for the current year.
In related news, Director Sanford Fitch sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $53.48, for a total value of $160,440.00. Following the transaction, the director now directly owns 58,000 shares of the company’s stock, valued at approximately $3,101,840. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jon Coleman sold 22,000 shares of the firm’s stock in a transaction dated Thursday, August 4th. The shares were 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 $594,280.38. The disclosure for this sale can be found here. 16.60% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of MASI. Aperio Group LLC raised its position in shares of Masimo Corp. by 27.3% in the first quarter. Aperio Group LLC now owns 15,761 shares of the company’s stock worth $659,000 after buying an additional 3,379 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Masimo Corp. by 0.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 56,685 shares of the company’s stock worth $2,372,000 after buying an additional 400 shares in the last quarter. Ngam Advisors L.P. bought a new position in shares of Masimo Corp. during the first quarter worth $461,000. Menta Capital LLC raised its position in shares of Masimo Corp. by 23.5% in the first quarter. Menta Capital LLC now owns 22,100 shares of the company’s stock worth $925,000 after buying an additional 4,200 shares in the last quarter. Finally, Huntington Asset Advisors Inc. bought a new position in shares of Masimo Corp. during the first quarter worth $513,000. 79.88% of the stock is currently owned by hedge funds and other institutional investors.
About Masimo Corp.
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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