Masimo Corporation (NASDAQ:MASI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “Over the past one year, Masimo has outperformed the broader industry with respect to price. Going forward, we believe the company's expanding product portfolio is a key catalyst. Wider adoption of its 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 FDA 510 (k) approval for the Radius 7 wearable and the O3 regional oximetry device are significant positives. On the flipside, unsatisfactory performance by the Rainbow product segment in the first quarter is a concern. Masimo also looks a tad bit expensive at the moment. Furthermore, the company faces fierce competition from OEM distributors and medical devices bigwigs that might mar its top line over the long haul. However Masimo reported solid first-quarter of 2017 results, beating the Zacks Consensus Estimate for both the counts.”

Several other equities analysts have also issued reports on the company. Piper Jaffray Companies lowered Masimo Corporation from an “overweight” rating to a “neutral” rating in a report on Thursday, March 16th. Wedbush restated an “outperform” rating and issued a $100.00 price objective on shares of Masimo Corporation in a research report on Tuesday, April 4th. BidaskClub downgraded shares of Masimo Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Stifel Nicolaus assumed coverage on shares of Masimo Corporation in a research report on Monday. They set a “buy” rating and a $105.00 price target for the company. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $83.40.

Masimo Corporation (NASDAQ MASI) traded up 1.22% on Tuesday, reaching $92.39. The company’s stock had a trading volume of 434,480 shares. The company has a 50 day moving average of $89.27 and a 200 day moving average of $85.00. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 15.69 and a beta of 0.80. Masimo Corporation has a 52 week low of $51.10 and a 52 week high of $104.71.

Masimo Corporation (NASDAQ:MASI) last announced its quarterly earnings data on Wednesday, May 3rd. The medical equipment provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.22. The business had revenue of $186.30 million for the quarter, compared to analysts’ expectations of $184.14 million. Masimo Corporation had a return on equity of 24.19% and a net margin of 44.86%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the firm earned $0.53 earnings per share. On average, analysts forecast that Masimo Corporation will post $2.66 earnings per share for the current year.

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In other news, EVP Yongsam Lee sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 19th. The shares were sold at an average price of $95.00, for a total transaction of $950,000.00. Following the completion of the sale, the executive vice president now directly owns 79,000 shares of the company’s stock, valued at approximately $7,505,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sanford Fitch sold 14,000 shares of the business’s stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $92.06, for a total transaction of $1,288,840.00. Following the sale, the director now directly owns 90,249 shares of the company’s stock, valued at $8,308,322.94. The disclosure for this sale can be found here. Insiders sold a total of 525,201 shares of company stock valued at $52,538,536 over the last ninety days. 16.60% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in MASI. Neuburgh Advisers LLC boosted its stake in shares of Masimo Corporation by 6.4% in the first quarter. Neuburgh Advisers LLC now owns 1,328 shares of the medical equipment provider’s stock valued at $124,000 after buying an additional 80 shares in the last quarter. Intrust Bank NA boosted its stake in shares of Masimo Corporation by 2.6% in the first quarter. Intrust Bank NA now owns 3,985 shares of the medical equipment provider’s stock valued at $371,000 after buying an additional 100 shares in the last quarter. Glen Harbor Capital Management LLC boosted its stake in shares of Masimo Corporation by 6.4% in the first quarter. Glen Harbor Capital Management LLC now owns 1,826 shares of the medical equipment provider’s stock valued at $170,000 after buying an additional 110 shares in the last quarter. Elkfork Partners LLC boosted its stake in shares of Masimo Corporation by 6.4% in the first quarter. Elkfork Partners LLC now owns 2,324 shares of the medical equipment provider’s stock valued at $217,000 after buying an additional 140 shares in the last quarter. Finally, Whittier Trust Co. boosted its stake in shares of Masimo Corporation by 2.2% in the first quarter. Whittier Trust Co. now owns 6,644 shares of the medical equipment provider’s stock valued at $620,000 after buying an additional 144 shares in the last quarter. 83.47% of the stock is owned by institutional investors.

Masimo Corporation Company Profile

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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Analyst Recommendations for Masimo Corporation (NASDAQ:MASI)

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