Masimo’s (MASI) Outperform Rating Reaffirmed at Wedbush
Masimo Co. (NASDAQ:MASI)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a research note issued on Monday. They currently have a $112.00 price target on the medical equipment provider’s stock. Wedbush’s target price points to a potential upside of 30.73% from the company’s previous close.
A number of other research firms have also issued reports on MASI. Zacks Investment Research lowered shares of Masimo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 11th. Piper Jaffray Companies lowered shares of Masimo from an “overweight” rating to a “neutral” rating in a research note on Thursday, March 16th. Raymond James Financial, Inc. lowered shares of Masimo from an “outperform” rating to a “market perform” rating in a research note on Monday, February 13th. Finally, Citigroup Inc lowered shares of Masimo to a “market perform” rating and set a $60.00 target price for the company. in a research note on Monday, February 13th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $78.00.
Shares of Masimo (NASDAQ:MASI) traded down 0.16% during midday trading on Monday, hitting $85.53. 237,165 shares of the stock traded hands. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 14.52 and a beta of 0.98. The firm has a 50-day moving average price of $93.07 and a 200 day moving average price of $79.05. Masimo has a one year low of $47.95 and a one year high of $104.71.
Masimo (NASDAQ:MASI) last announced its quarterly earnings data on Wednesday, May 3rd. The medical equipment provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.22. Masimo had a net margin of 16.31% and a return on equity of 29.42%. The business had revenue of $186.30 million during the quarter, compared to the consensus estimate of $184.14 million. During the same quarter in the prior year, the firm earned $0.53 EPS. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts anticipate that Masimo will post $2.66 earnings per share for the current year.
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In other news, EVP Thomas Samuel Mcclenahan sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $102.75, for a total value of $822,000.00. Following the completion of the sale, the executive vice president now directly owns 2,000 shares of the company’s stock, valued at approximately $205,500. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joe E. Kiani sold 145,841 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $102.37, for a total transaction of $14,929,743.17. Following the completion of the sale, the chief executive officer now directly owns 165,082 shares of the company’s stock, valued at $16,899,444.34. The disclosure for this sale can be found here. Insiders have sold a total of 655,312 shares of company stock valued at $64,552,958 over the last three months. 16.60% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Thrivent Financial for Lutherans raised its stake in shares of Masimo by 6.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 23,760 shares of the medical equipment provider’s stock worth $1,601,000 after buying an additional 1,390 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Masimo during the fourth quarter worth $10,795,000. Norges Bank bought a new stake in shares of Masimo during the fourth quarter worth $26,532,000. FMR LLC raised its stake in shares of Masimo by 12.5% in the fourth quarter. FMR LLC now owns 450,000 shares of the medical equipment provider’s stock worth $30,330,000 after buying an additional 50,000 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of Masimo by 3.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 8,406 shares of the medical equipment provider’s stock worth $567,000 after buying an additional 300 shares in the last quarter. 82.14% of the stock is owned by institutional investors.
Masimo Corporation is a medical technology company that develops, manufactures and markets a range of non-invasive patient monitoring technologies. The Company’s business is Measure-through Motion and Low Perfusion pulse oximetry monitoring, known as Masimo Signal Extraction Technology (SET) pulse oximetry.
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