Insider Selling: Masimo Corp. (MASI) CEO Sells 84,617 Shares of Stock
Masimo Corp. (NASDAQ:MASI) CEO Joe E. Kiani sold 84,617 shares of the company’s stock in a transaction on Monday, October 10th. The shares were sold at an average price of $60.26, for a total transaction of $5,099,020.42. Following the sale, the chief executive officer now owns 126,450 shares of the company’s stock, valued at approximately $7,619,877. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Masimo Corp. (NASDAQ:MASI) opened at 58.66 on Wednesday. The company has a 50 day moving average of $59.19 and a 200-day moving average of $51.84. Masimo Corp. has a 52-week low of $33.03 and a 52-week high of $60.81. The company has a market cap of $2.89 billion, a PE ratio of 30.76 and a beta of 0.70.
Masimo Corp. (NASDAQ:MASI) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.16. The business had revenue of $172.64 million for the quarter, compared to analysts’ expectations of $166.02 million. Masimo Corp. had a net margin of 15.40% and a return on equity of 29.07%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the firm posted $0.36 earnings per share. Analysts forecast that Masimo Corp. will post $2.02 EPS for the current fiscal year.
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Hedge funds have recently modified their holdings of the stock. Aperio Group LLC raised its stake in shares of Masimo Corp. by 27.3% in the first quarter. Aperio Group LLC now owns 15,761 shares of the company’s stock worth $659,000 after buying an additional 3,379 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of 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 worth $2,372,000 after buying an additional 400 shares in the last quarter. Ngam Advisors L.P. bought a new stake in shares of Masimo Corp. during the first quarter worth $461,000. Menta Capital LLC raised its stake in shares of Masimo Corp. by 23.5% in the first quarter. Menta Capital LLC now owns 22,100 shares of the company’s stock worth $925,000 after buying an additional 4,200 shares in the last quarter. Finally, Huntington Asset Advisors Inc. bought a new stake in shares of Masimo Corp. during the first quarter worth $513,000. Hedge funds and other institutional investors own 79.88% of the company’s stock.
MASI has been the subject of several recent research reports. Wedbush reiterated an “outperform” rating and set a $63.00 target price (up previously from $60.00) on shares of Masimo Corp. in a research report on Thursday, August 4th. BTIG Research reiterated a “hold” rating on shares of Masimo Corp. in a research report on Friday, August 5th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $55.00 target price (up previously 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. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Masimo Corp. presently has an average rating of “Buy” and an average target price of $52.60.
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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