Insider Selling: Masimo Corp. (MASI) CEO Sells 85,771 Shares of Stock
Masimo Corp. (NASDAQ:MASI) CEO Joe E. Kiani sold 85,771 shares of the business’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $62.06, for a total transaction of $5,322,948.26. Following the transaction, the chief executive officer now owns 119,241 shares in the company, valued at $7,400,096.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Masimo Corp. (NASDAQ:MASI) traded up 0.50% on Wednesday, reaching $62.09. 229,396 shares of the company’s stock traded hands. The company has a 50 day moving average price of $59.15 and a 200 day moving average price of $55.37. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 29.98 and a beta of 0.98. Masimo Corp. has a 52 week low of $33.03 and a 52 week high of $62.29.
Masimo Corp. (NASDAQ:MASI) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.10. Masimo Corp. had a net margin of 16.31% and a return on equity of 29.42%. The company had revenue of $167.60 million for the quarter, compared to the consensus estimate of $165.51 million. During the same period last year, the firm posted $0.36 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities research analysts predict that Masimo Corp. will post $2.14 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. D.A. Davidson & CO. increased its position in Masimo Corp. by 42.8% in the third quarter. D.A. Davidson & CO. now owns 1,713 shares of the company’s stock worth $101,000 after buying an additional 513 shares during the last quarter. Victory Capital Management Inc. increased its position in Masimo Corp. by 76.9% in the second quarter. Victory Capital Management Inc. now owns 2,148 shares of the company’s stock worth $113,000 after buying an additional 934 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in Masimo Corp. during the second quarter worth about $116,000. Acrospire Investment Management LLC increased its position in Masimo Corp. by 22.2% in the third quarter. Acrospire Investment Management LLC now owns 2,200 shares of the company’s stock worth $131,000 after buying an additional 400 shares during the last quarter. Finally, First Quadrant L P CA acquired a new position in Masimo Corp. during the third quarter worth about $138,000. Institutional investors own 82.77% of the company’s stock.
A number of research analysts have recently issued reports on MASI shares. Zacks Investment Research lowered shares of Masimo Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 4th. Wedbush reiterated an “outperform” rating and set a $75.00 price target on shares of Masimo Corp. in a research note on Monday, November 14th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $55.00 price target (up from $52.00) on shares of Masimo Corp. in a research note on Friday, August 5th. Finally, BTIG Research reiterated a “hold” rating on shares of Masimo Corp. in a research note on Friday, August 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $55.00.
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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