Insider Selling: Masimo Corp. (MASI) CEO Sells 84,617 Shares of Stock
Masimo Corp. (NASDAQ:MASI) CEO Joe E. Kiani sold 84,617 shares of the stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $60.26, for a total value of $5,099,020.42. Following the transaction, the chief executive officer now directly owns 126,450 shares in the company, valued at approximately $7,619,877. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of Masimo Corp. (NASDAQ:MASI) opened at 58.66 on Wednesday. The company has a 50 day moving average price of $59.19 and a 200 day moving average price of $51.84. The company has a market cap of $2.89 billion, a P/E ratio of 30.76 and a beta of 0.70. Masimo Corp. has a one year low of $33.03 and a one year high of $60.81.
Masimo Corp. (NASDAQ:MASI) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.16. Masimo Corp. had a return on equity of 29.07% and a net margin of 15.40%. The firm had revenue of $172.64 million for the quarter, compared to the consensus estimate of $166.02 million. During the same quarter in the prior year, the business earned $0.36 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. Equities research analysts expect that Masimo Corp. will post $2.02 earnings per share for the current year.
A number of research analysts have commented on MASI shares. Wedbush reaffirmed an “outperform” rating and set a $63.00 target price (up previously from $60.00) on shares of Masimo Corp. in a report on Thursday, August 4th. BTIG Research reissued a “hold” rating on shares of Masimo Corp. in a report on Friday, August 5th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $55.00 price target (up previously from $52.00) on shares of Masimo Corp. in a report on Friday, August 5th. Finally, Zacks Investment Research downgraded Masimo Corp. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 4th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $52.60.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Mitra Capital LLC purchased a new position in Masimo Corp. during the first quarter valued at about $4,387,000. Bellevue Group AG acquired a new stake in shares of Masimo Corp. during the first quarter valued at approximately $3,138,000. Wellington Management Group LLP boosted its stake in shares of Masimo Corp. by 53.7% in the first quarter. Wellington Management Group LLP now owns 196,270 shares of the company’s stock valued at $8,212,000 after buying an additional 68,544 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Masimo Corp. by 0.7% in the first quarter. Geode Capital Management LLC now owns 426,362 shares of the company’s stock valued at $17,838,000 after buying an additional 3,002 shares during the last quarter. Finally, UBS Group AG boosted its stake in shares of Masimo Corp. by 3.6% in the first quarter. UBS Group AG now owns 19,177 shares of the company’s stock valued at $802,000 after buying an additional 663 shares during the last quarter. 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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