Wedbush Weighs in on Masimo Corporation’s Q3 2017 Earnings (MASI)
Masimo Corporation (NASDAQ:MASI) – Analysts at Wedbush upped their Q3 2017 earnings estimates for shares of Masimo Corporation in a note issued to investors on Thursday. Wedbush analyst Levy. T now expects that the medical equipment provider will earn $0.53 per share for the quarter, up from their previous estimate of $0.51. Wedbush has a “Outperform” rating and a $112.00 price objective on the stock. Wedbush also issued estimates for Masimo Corporation’s Q4 2017 earnings at $0.62 EPS.
Masimo Corporation (NASDAQ:MASI) last announced its quarterly earnings results on Wednesday, August 2nd. The medical equipment provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.12. Masimo Corporation had a net margin of 45.90% and a return on equity of 23.45%. The firm had revenue of $192.90 million during the quarter, compared to the consensus estimate of $189.03 million. During the same period last year, the firm posted $0.57 EPS. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. COPYRIGHT VIOLATION WARNING: “Wedbush Weighs in on Masimo Corporation’s Q3 2017 Earnings (MASI)” was originally published by American Banking News and is the property of of American Banking News. If you are reading this news story on another publication, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2017/08/07/wedbush-weighs-in-on-masimo-corporations-q3-2017-earnings-masi.html.
Several other research firms also recently commented on MASI. Zacks Investment Research upgraded shares of Masimo Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Stifel Nicolaus reaffirmed a “buy” rating and set a $108.00 price objective (up previously from $105.00) on shares of Masimo Corporation in a research report on Thursday. BidaskClub raised shares of Masimo Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Finally, Roth Capital upped their price objective on shares of Masimo Corporation from $96.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $94.00.
Masimo Corporation (NASDAQ MASI) opened at 85.29 on Monday. The company has a market capitalization of $4.43 billion, a P/E ratio of 13.98 and a beta of 0.80. Masimo Corporation has a one year low of $52.07 and a one year high of $104.71. The company’s 50-day moving average is $93.60 and its 200 day moving average is $89.40.
A number of large investors have recently bought and sold shares of the company. Federated Investors Inc. PA boosted its stake in Masimo Corporation by 273.4% in the second quarter. Federated Investors Inc. PA now owns 105,366 shares of the medical equipment provider’s stock valued at $9,607,000 after buying an additional 77,148 shares in the last quarter. Fortaleza Asset Management Inc. purchased a new stake in Masimo Corporation during the second quarter valued at $106,000. Jennison Associates LLC boosted its stake in Masimo Corporation by 111.3% in the second quarter. Jennison Associates LLC now owns 11,650 shares of the medical equipment provider’s stock valued at $1,062,000 after buying an additional 6,137 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Masimo Corporation by 114.7% in the second quarter. BNP Paribas Arbitrage SA now owns 32,879 shares of the medical equipment provider’s stock valued at $2,998,000 after buying an additional 17,565 shares in the last quarter. Finally, Comerica Bank boosted its stake in Masimo Corporation by 1.1% in the second quarter. Comerica Bank now owns 35,346 shares of the medical equipment provider’s stock valued at $3,477,000 after buying an additional 395 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.
In related news, Director Sanford Fitch sold 6,000 shares of the company’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $91.89, for a total transaction of $551,340.00. Following the completion of the sale, the director now owns 89,249 shares of the company’s stock, valued at $8,201,090.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Anand Sampath sold 40,000 shares of the company’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $92.00, for a total transaction of $3,680,000.00. Following the sale, the chief operating officer now directly owns 20,000 shares of the company’s stock, valued at approximately $1,840,000. The disclosure for this sale can be found here. Insiders have sold 115,000 shares of company stock valued at $10,773,180 in the last ninety days. 16.60% of the stock is currently owned by company insiders.
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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