Zacks Investment Research downgraded shares of Masimo Corp. (NASDAQ:MASI) from a strong-buy rating to a hold rating in a report published on Tuesday.
According to Zacks, “Masimo reported strong second quarter 2016 results. We believe the company's expanding product portfolio is the key catalyst. Wider adoption of non-invasive patient monitoring technology will help the company gain market traction. Masimo’s SET pulse oximetry business represents considerable growth opportunities in international markets. Moreover, the recent FDA 510 (k) approvals for the Radius 7 wearable and the O3 regional oximetry device is significantly positive. Further, the recent launch of Pronto Pulse CO-Oximeter, its next-generation SpHb Spot Check technology, for markets outside the U.S. and next-generation SedLine Brain Function monitoring technology are key catalysts in the long haul.”
A number of other equities analysts have also weighed in on MASI. Wedbush reissued an outperform rating and issued a $63.00 price objective (up previously 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. Finally, Piper Jaffray Cos. reissued an overweight rating and issued a $55.00 price objective (up previously from $52.00) on shares of Masimo Corp. in a research report on Friday, August 5th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of Buy and an average price target of $52.60.
Masimo Corp. (NASDAQ:MASI) opened at 59.97 on Tuesday. Masimo Corp. has a 12 month low of $33.03 and a 12 month high of $60.52. The firm has a 50-day moving average of $59.11 and a 200 day moving average of $51.48. The stock has a market cap of $2.96 billion, a PE ratio of 31.45 and a beta of 0.70.
Masimo Corp. (NASDAQ:MASI) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.16. The business earned $172.64 million during the quarter, compared to analyst estimates of $166.02 million. Masimo Corp. had a net margin of 15.40% and a return on equity of 29.07%. The company’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 earnings per share. Analysts anticipate that Masimo Corp. will post $2.02 EPS for the current year.
In other Masimo Corp. news, Director Sanford Fitch sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $53.48, for a total transaction of $160,440.00. Following the completion of the sale, the director now directly owns 58,000 shares in the company, valued at $3,101,840. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Rick Fishel sold 22,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $53.85, for a total transaction of $1,184,700.00. Following the sale, the insider now owns 42,022 shares of the company’s stock, valued at $2,262,884.70. 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 added to or reduced their stakes in the company. Aperio Group LLC increased its stake in Masimo Corp. by 27.3% in the first quarter. Aperio Group LLC now owns 15,761 shares of the company’s stock valued at $659,000 after buying an additional 3,379 shares in the last quarter. Virginia Retirement System acquired a new stake in Masimo Corp. during the first quarter valued at about $1,452,000. Pacad Investment Ltd. acquired a new stake in Masimo Corp. during the first quarter valued at about $519,000. Los Angeles Capital Management & Equity Research Inc. increased its stake in Masimo Corp. by 0.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 56,685 shares of the company’s stock valued at $2,372,000 after buying an additional 400 shares in the last quarter. Finally, Ngam Advisors L.P. acquired a new stake in Masimo Corp. during the first quarter valued at about $461,000. Institutional investors own 79.88% of the company’s stock.
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.