Masimo (NASDAQ:MASI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Over the past 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.”

Several other analysts also recently issued reports on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $108.00 price objective on shares of Masimo in a research report on Friday, November 3rd. BidaskClub downgraded shares of Masimo from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $97.17.

Masimo (MASI) traded up $0.17 during midday trading on Wednesday, reaching $86.21. 14,495 shares of the company traded hands, compared to its average volume of 346,550. Masimo has a 52-week low of $66.79 and a 52-week high of $104.71. The stock has a market capitalization of $4,450.00, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 3.25 and a beta of 0.72.

Masimo (NASDAQ:MASI) last posted its quarterly earnings results on Tuesday, October 31st. The medical equipment provider reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.17. Masimo had a net margin of 45.83% and a return on equity of 22.17%. The firm had revenue of $193.69 million for the quarter, compared to analyst estimates of $189.01 million. During the same quarter last year, the firm posted $0.52 earnings per share. Masimo’s revenue for the quarter was up 15.6% compared to the same quarter last year. equities analysts expect that Masimo will post 2.95 EPS for the current year.

In related news, EVP Yongsam Lee sold 5,000 shares of Masimo stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $89.89, for a total transaction of $449,450.00. Following the transaction, the executive vice president now directly owns 74,000 shares of the company’s stock, valued at $6,651,860. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Steven Barker sold 10,000 shares of Masimo stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $90.00, for a total value of $900,000.00. Following the transaction, the director now directly owns 73,249 shares in the company, valued at $6,592,410. The disclosure for this sale can be found here. Insiders have sold 53,074 shares of company stock worth $4,737,245 over the last 90 days. 13.10% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of MASI. BlackRock Inc. grew its stake in Masimo by 7.5% during the 2nd quarter. BlackRock Inc. now owns 7,915,230 shares of the medical equipment provider’s stock valued at $721,710,000 after acquiring an additional 550,995 shares in the last quarter. Vanguard Group Inc. grew its stake in Masimo by 6.9% during the 2nd quarter. Vanguard Group Inc. now owns 4,935,693 shares of the medical equipment provider’s stock valued at $450,036,000 after acquiring an additional 318,060 shares in the last quarter. State Street Corp grew its stake in Masimo by 10.4% during the 2nd quarter. State Street Corp now owns 1,547,728 shares of the medical equipment provider’s stock valued at $141,121,000 after acquiring an additional 146,212 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Masimo by 3.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,113,113 shares of the medical equipment provider’s stock valued at $101,494,000 after acquiring an additional 38,991 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Masimo by 6.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,074,648 shares of the medical equipment provider’s stock valued at $93,021,000 after acquiring an additional 64,882 shares in the last quarter. 83.69% of the stock is currently owned by hedge funds and other institutional investors.

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Masimo 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 (NASDAQ:MASI)

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