Masimo Corp. (MASI) Receives $60.00 Consensus PT from Brokerages
Shares of Masimo Corp. (NASDAQ:MASI) have received an average rating of “Buy” from the six research firms that are covering the firm. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $60.00.
MASI has been the subject of a number of research reports. Wedbush reissued an “outperform” rating and issued a $63.00 price target (up from $60.00) on shares of Masimo Corp. in a research report on Thursday, August 4th. BTIG Research reissued a “hold” rating on shares of Masimo Corp. in a research report on Friday, August 5th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $55.00 price target (up from $52.00) on shares of Masimo Corp. in a research report on Friday, August 5th. Finally, Zacks Investment Research cut shares of Masimo Corp. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 4th.
In other news, insider Jon Coleman sold 6,000 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $60.00, for a total transaction of $360,000.00. Following the transaction, the insider now directly owns 759 shares in the company, valued at $45,540. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Anand Sampath sold 51,345 shares of the business’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $55.05, for a total transaction of $2,826,542.25. Following the transaction, the chief operating officer now owns 23,171 shares in the company, valued at $1,275,563.55. The disclosure for this sale can be found here. 16.60% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of MASI. Vanguard Group Inc. raised its position 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 raised its position in shares of Masimo Corp. by 6.2% in the third quarter. BlackRock Fund Advisors now owns 3,082,642 shares of the company’s stock worth $183,386,000 after buying an additional 180,127 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Masimo Corp. by 16.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,666,288 shares of the company’s stock worth $99,127,000 after buying an additional 236,851 shares during the period. Acadian Asset Management LLC raised its position in shares of Masimo Corp. by 633.2% in the third quarter. Acadian Asset Management LLC now owns 900,553 shares of the company’s stock worth $53,573,000 after buying an additional 777,735 shares during the period. Finally, State Street Corp raised its position 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. Institutional investors and hedge funds own 83.97% of the company’s stock.
Shares of Masimo Corp. (NASDAQ:MASI) opened at 61.91 on Wednesday. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 29.89 and a beta of 0.98. The firm’s 50-day moving average price is $59.03 and its 200-day moving average price is $54.96. Masimo Corp. has a 12-month low of $33.03 and a 12-month high of $62.15.
Masimo Corp. (NASDAQ:MASI) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. Masimo Corp. had a net margin of 16.31% and a return on equity of 29.42%. The firm earned $167.60 million during the quarter, compared to analysts’ expectations of $165.51 million. During the same period in the previous year, the company earned $0.36 earnings per share. Masimo Corp.’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, analysts forecast that Masimo Corp. will post $2.14 EPS for the current fiscal year.
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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