Masimo (NASDAQ:MASI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Masimo 's expanding product portfolio is the key catalyst at the moment. 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 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. Masimo has underperformed the broader industry with respect to price in the last six months.”
A number of other equities research analysts also recently issued reports on MASI. Stifel Nicolaus reaffirmed a “buy” rating and set a $108.00 price target on shares of Masimo in a research note on Friday, November 3rd. BidaskClub downgraded shares of Masimo from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Masimo presently has an average rating of “Hold” and a consensus target price of $97.17.
In other Masimo news, EVP Yongsam Lee sold 18,198 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $88.85, for a total transaction of $1,616,892.30. Following the transaction, the executive vice president now owns 70,800 shares in the company, valued at $6,290,580. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sanford Fitch sold 2,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $93.07, for a total transaction of $186,140.00. Following the transaction, the director now owns 68,249 shares in the company, valued at approximately $6,351,934.43. The disclosure for this sale can be found here. Insiders have sold 62,074 shares of company stock worth $5,565,135 in the last quarter. Company insiders own 13.10% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. SeaCrest Wealth Management LLC bought a new position in shares of Masimo in the fourth quarter worth about $116,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Masimo by 78.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,106 shares of the medical equipment provider’s stock worth $182,000 after purchasing an additional 925 shares during the last quarter. Advisor Group Inc. grew its holdings in shares of Masimo by 38.4% in the second quarter. Advisor Group Inc. now owns 2,361 shares of the medical equipment provider’s stock worth $216,000 after purchasing an additional 655 shares during the last quarter. Intellectus Partners LLC bought a new position in shares of Masimo in the second quarter worth about $237,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Masimo by 39.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,820 shares of the medical equipment provider’s stock worth $239,000 after purchasing an additional 802 shares during the last quarter. Institutional investors and hedge funds own 82.57% of the company’s stock.
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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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