Masimo (MASI) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Masimo (NASDAQ:MASI) from a buy rating to a hold rating in a report issued on Wednesday, January 3rd.

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.”

MASI has been the subject of several other research reports. BidaskClub downgraded Masimo from a hold rating to a sell rating in a research report on Thursday, December 7th. Stifel Nicolaus reaffirmed a buy rating and set a $108.00 target price on shares of Masimo in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $97.17.

Shares of Masimo (NASDAQ MASI) traded down $0.32 during midday trading on Wednesday, hitting $85.78. The stock had a trading volume of 413,757 shares, compared to its average volume of 378,640. Masimo has a 52 week low of $69.57 and a 52 week high of $104.71. The stock has a market capitalization of $4,430.00, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 3.41 and a beta of 0.72.

Masimo (NASDAQ:MASI) last issued its earnings results on Tuesday, October 31st. The medical equipment provider reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.17. Masimo had a return on equity of 22.17% and a net margin of 45.83%. The company had revenue of $193.69 million during the quarter, compared to the consensus estimate of $189.01 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. The company’s revenue was up 15.6% compared to the same quarter last year. equities research analysts anticipate that Masimo will post 2.95 earnings per share for the current year.

In other news, EVP Yongsam Lee sold 18,198 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $88.85, for a total transaction of $1,616,892.30. Following the completion of the sale, the executive vice president now directly owns 70,800 shares of the company’s stock, valued at approximately $6,290,580. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Steven Barker sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $90.00, for a total value of $900,000.00. Following the sale, the director now directly owns 73,249 shares of the company’s stock, valued at $6,592,410. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,074 shares of company stock valued at $5,618,945. 13.10% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale boosted its position 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 buying an additional 925 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Masimo by 13.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,018 shares of the medical equipment provider’s stock worth $184,000 after buying an additional 236 shares during the period. Advisor Group Inc. raised its holdings in shares of Masimo by 38.4% during the second quarter. Advisor Group Inc. now owns 2,361 shares of the medical equipment provider’s stock worth $216,000 after acquiring an additional 655 shares in the last quarter. Intellectus Partners LLC purchased a new stake in shares of Masimo during the second quarter worth $237,000. Finally, Shelton Capital Management purchased a new stake in shares of Masimo during the second quarter worth $269,000. 83.69% of the stock is owned by institutional investors and hedge funds.

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About Masimo

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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