Masimo Corp. to Post Q4 2016 Earnings of $0.52 Per Share, Wedbush Forecasts (MASI)
Masimo Corp. (NASDAQ:MASI) – Equities research analysts at Wedbush raised their Q4 2016 earnings estimates for shares of Masimo Corp. in a research report issued on Monday. Wedbush analyst Levy. T now forecasts that the firm will earn $0.52 per share for the quarter, up from their prior forecast of $0.50. Wedbush currently has a “Outperform” rating and a $63.00 price objective on the stock. Wedbush also issued estimates for Masimo Corp.’s FY2017 earnings at $2.22 EPS and FY2018 earnings at $2.54 EPS.
MASI has been the subject of several other research reports. BTIG Research reaffirmed a “hold” rating on shares of Masimo Corp. in a research note on Friday, August 5th. Zacks Investment Research downgraded shares of Masimo Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 4th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $55.00 price target (up previously from $52.00) on shares of Masimo Corp. in a research note on Friday, August 5th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $52.60.
Masimo Corp. (NASDAQ:MASI) opened at 60.98 on Wednesday. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 29.44 and a beta of 0.98. The company has a 50-day moving average of $58.73 and a 200-day moving average of $54.20. Masimo Corp. has a 52 week low of $33.03 and a 52 week high of $61.99.
Masimo Corp. (NASDAQ:MASI) last announced its earnings results on Wednesday, November 2nd. The company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.10. The firm earned $167.60 million during the quarter, compared to analyst estimates of $165.51 million. Masimo Corp. had a net margin of 16.31% and a return on equity of 29.42%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 EPS.
In related news, insider Jon Coleman sold 6,000 shares of Masimo Corp. stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $60.00, for a total transaction of $360,000.00. Following the completion of the transaction, the insider now owns 759 shares of the company’s stock, valued at $45,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Anand Sampath sold 65,000 shares of Masimo Corp. stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $55.04, for a total transaction of $3,577,600.00. Following the completion of the sale, the chief operating officer now directly owns 23,171 shares of the company’s stock, valued at $1,275,331.84. The disclosure for this sale can be found here. Corporate insiders own 16.60% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its stake in Masimo Corp. by 76.9% in the second quarter. Victory Capital Management Inc. now owns 2,148 shares of the company’s stock valued at $113,000 after buying an additional 934 shares during the period. Acrospire Investment Management LLC increased its stake in Masimo Corp. by 22.2% in the third quarter. Acrospire Investment Management LLC now owns 2,200 shares of the company’s stock valued at $131,000 after buying an additional 400 shares during the period. Tower Research Capital LLC TRC bought a new stake in Masimo Corp. during the second quarter valued at $116,000. First Quadrant L P CA bought a new stake in Masimo Corp. during the third quarter valued at $138,000. Finally, Daiwa Securities Group Inc. bought a new stake in Masimo Corp. during the third quarter valued at $161,000. 82.18% of the stock is owned by hedge funds and other institutional investors.
Masimo Corp. Company Profile
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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