Masimo (MASI) Coverage Begins as Buy at Brean Murray

Masimo (MASI) has been initiated today with coverage from the research analysts at Brean Murray.  Murray begins this new coverage of MASI with an initial price target set at $33 dollars and rates performance of MASI as “buy.”  Murray notes that Masimo’s Rainbow & SET technology is set to be integrated into Philip’s products.  Masimo announced today that they have an agreement with Philips to do so.  Additionally, Murray finds MASI to have an attractive growth profile that should generate revenue by about 20% over the following three years.

2011 has been a wild ride for shareholders of MASI as shares have trended above and below 2010’s close.  While much of the trend has been to the upside throughout the year, sudden share valuation decrease has come at a rapid pace, faster than periods of positive daily gain.  Notable, however, shares nearly doubled from July 21st, 2010 through May 2nd, 2010.

Masimo is slated to release their next earnings report on August 2nd, 2011, and is estimated to post EPS of 28 cents.  Their last earnings report was released on May 3rd, 2011, and announced EPS of 30 cents with revenue totaling $113 million which was up 14.5 % year to year.  MASI is currently trading below its 50 & 200-day moving averages and 2011 is currently a down year for the company.

Masimo Corporation is a global medical technology company that develops, manufactures, and markets noninvasive patient monitoring products that help clinicians improve patient care.  The company has market capitalization of $1,762,232,450 and 59,555,000 shares outstanding.  MASI has a 52-week high of $35.15 with the low being $21.70 dollars.

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