Masimo Corp. (MASI) Lowered to Hold at Zacks Investment Research
According to Zacks, “Masimo reported strong second quarter 2016 results. We believe the company's expanding product portfolio is the key catalyst. Wider adoption of non-invasive patient monitoring technology will help the company gain market traction. Masimo’s SET pulse oximetry business represents considerable growth opportunities in international markets. Moreover, the recent FDA 510 (k) approvals for the Radius 7 wearable and the O3 regional oximetry device is significantly positive. Further, the recent launch of Pronto Pulse CO-Oximeter, its next-generation SpHb Spot Check technology, for markets outside the U.S. and next-generation SedLine Brain Function monitoring technology are key catalysts in the long haul.”
Several other equities analysts also recently commented on MASI. BTIG Research reaffirmed a hold rating on shares of Masimo Corp. in a research report on Friday, August 5th. Piper Jaffray Cos. reaffirmed an overweight rating and issued a $55.00 price objective (up previously from $52.00) on shares of Masimo Corp. in a research report on Friday, August 5th. Finally, Wedbush reaffirmed an outperform rating and issued a $63.00 price objective (up previously from $60.00) on shares of Masimo Corp. in a research report on Thursday, August 4th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $52.60.
Shares of Masimo Corp. (NASDAQ:MASI) opened at 59.24 on Tuesday. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 31.06 and a beta of 0.70. The company has a 50-day moving average price of $58.98 and a 200-day moving average price of $51.21. Masimo Corp. has a 52 week low of $33.03 and a 52 week high of $60.52.
Masimo Corp. (NASDAQ:MASI) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.57 EPS for the quarter, beating the Thomson Reuters’ 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%. Masimo Corp.’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 EPS. Equities analysts anticipate that Masimo Corp. will post $2.02 EPS for the current year.
In related news, CEO Joe E. Kiani sold 999 shares of the company’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $60.03, for a total transaction of $59,969.97. Following the completion of the sale, the chief executive officer now directly owns 120,240 shares in the company, valued at approximately $7,218,007.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joe E. Kiani sold 49,484 shares of the company’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $60.18, for a total value of $2,977,947.12. Following the sale, the chief executive officer now owns 158,911 shares of the company’s stock, valued at $9,563,263.98. The disclosure for this sale can be found here. Corporate insiders own 16.60% of the company’s stock.
Several large investors have recently modified their holdings of MASI. Vanguard Group Inc. boosted its stake in shares of Masimo Corp. by 2.4% in the second quarter. Vanguard Group Inc. now owns 3,893,534 shares of the company’s stock worth $204,469,000 after buying an additional 90,732 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Masimo Corp. by 1.2% in the second quarter. BlackRock Fund Advisors now owns 2,902,515 shares of the company’s stock worth $152,426,000 after buying an additional 34,803 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Masimo Corp. by 0.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,429,437 shares of the company’s stock worth $75,067,000 after buying an additional 13,204 shares during the period. State Street Corp boosted its stake in shares of Masimo Corp. by 3.1% in the first quarter. State Street Corp now owns 890,937 shares of the company’s stock worth $37,271,000 after buying an additional 26,485 shares during the period. Finally, BlackRock Advisors LLC boosted its stake in shares of Masimo Corp. by 49.7% in the second quarter. BlackRock Advisors LLC now owns 741,931 shares of the company’s stock worth $38,962,000 after buying an additional 246,358 shares during the period. Hedge funds and other institutional investors own 79.88% of the company’s stock.
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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