Masimo Corporation (MASI) Lifted to “Buy” at Zacks Investment Research
Masimo Corporation (NASDAQ:MASI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm presently has a $98.00 price target on the medical equipment provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.67% from the company’s current price.
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 third 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 third-quarter of 2017 results, beating the Zacks Consensus Estimate for both the counts.”
A number of other research firms also recently issued reports on MASI. BidaskClub downgraded shares of Masimo Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Stifel Nicolaus started coverage on shares of Masimo Corporation in a research report on Monday, July 10th. They issued a “buy” rating and a $105.00 target price for the company. Roth Capital increased their target price 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. Finally, BTIG Research upgraded shares of Masimo Corporation from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Monday, August 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $97.17.
Masimo Corporation (NASDAQ:MASI) last posted its quarterly earnings data on Tuesday, October 31st. The medical equipment provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.17. Masimo Corporation had a net margin of 45.83% and a return on equity of 22.89%. The firm had revenue of $193.69 million during the quarter, compared to analyst estimates of $189.01 million. During the same quarter last year, the business posted $0.52 EPS. The company’s revenue was up 15.6% on a year-over-year basis.
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In other Masimo Corporation news, Director Sanford Fitch sold 11,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $87.25, for a total value of $959,750.00. Following the completion of the sale, the director now owns 72,249 shares in the company, valued at approximately $6,303,725.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 16.60% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in shares of Masimo Corporation by 4,676.3% during the 1st quarter. BlackRock Inc. now owns 7,364,235 shares of the medical equipment provider’s stock valued at $686,789,000 after purchasing an additional 7,210,051 shares in the last quarter. Columbia Wanger Asset Management LLC bought a new position in shares of Masimo Corporation during the 4th quarter valued at $56,497,000. Acadian Asset Management LLC raised its holdings in shares of Masimo Corporation by 633.2% during the 3rd quarter. Acadian Asset Management LLC now owns 900,553 shares of the medical equipment provider’s stock valued at $53,573,000 after purchasing an additional 777,735 shares in the last quarter. Norges Bank bought a new position in shares of Masimo Corporation during the 4th quarter valued at $20,667,000. Finally, Koch Industries Inc. raised its holdings in shares of Masimo Corporation by 5,053.7% during the 2nd quarter. Koch Industries Inc. now owns 443,939 shares of the medical equipment provider’s stock valued at $439,000 after purchasing an additional 435,325 shares in the last quarter. Institutional investors own 82.96% of the company’s stock.
About Masimo Corporation
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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