Masimo (MASI) Downgraded to Hold at BidaskClub
Masimo (NASDAQ:MASI) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
A number of other analysts have also weighed in on the stock. Needham & Company LLC initiated coverage on shares of Masimo in a report on Friday, September 14th. They set a “buy” rating on the stock. Stifel Nicolaus upped their target price on shares of Masimo from $112.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, October 2nd. Zacks Investment Research lowered shares of Masimo from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. Finally, Piper Jaffray Companies upped their target price on shares of Masimo to $120.00 and gave the stock a “neutral” rating in a report on Thursday, November 1st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $114.40.
Masimo stock traded down $0.56 during midday trading on Tuesday, reaching $110.59. 421,914 shares of the stock were exchanged, compared to its average volume of 525,124. The firm has a market capitalization of $6.12 billion, a PE ratio of 45.14, a price-to-earnings-growth ratio of 2.72 and a beta of 1.11. Masimo has a 52 week low of $80.69 and a 52 week high of $126.89.
In other Masimo news, insider Ramshorst David J. Van sold 1,325 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $125.00, for a total value of $165,625.00. Following the completion of the transaction, the insider now owns 2,325 shares of the company’s stock, valued at approximately $290,625. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Sanford Fitch sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $113.14, for a total transaction of $226,280.00. The disclosure for this sale can be found here. In the last three months, insiders sold 666,033 shares of company stock valued at $79,900,568. Corporate insiders own 12.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in MASI. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Masimo in the 2nd quarter valued at $109,000. Ibex Investors LLC purchased a new stake in shares of Masimo in the 3rd quarter valued at $208,000. CIBC Asset Management Inc purchased a new stake in shares of Masimo in the 3rd quarter valued at $227,000. Parametrica Management Ltd purchased a new stake in shares of Masimo in the 3rd quarter valued at $234,000. Finally, US Bancorp DE boosted its stake in shares of Masimo by 36.9% in the 2nd quarter. US Bancorp DE now owns 1,980 shares of the medical equipment provider’s stock valued at $193,000 after purchasing an additional 534 shares in the last quarter. 83.29% of the stock is owned by institutional investors and hedge funds.
Masimo Corporation, a medical technology company, develops, manufactures, and markets noninvasive monitoring technologies worldwide. The company offers Masimo Signal Extraction Technology (SET) pulse oximetry with measure-through-motion and low-perfusion pulse oximetry monitoring to address the primary limitations of conventional pulse oximetry.
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