Masimo (MASI) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Masimo (NASDAQ:MASI) from a buy rating to a hold rating in a research note released 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.”

A number of other brokerages also recently issued reports on MASI. BidaskClub downgraded Masimo from a hold rating to a sell rating in a report on Thursday, December 7th. Stifel Nicolaus restated a buy rating and set a $108.00 target price on shares of Masimo in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. Masimo presently has an average rating of Hold and a consensus price target of $97.17.

Shares of Masimo (NASDAQ MASI) traded down $0.31 during mid-day trading on Wednesday, hitting $86.30. The company had a trading volume of 407,300 shares, compared to its average volume of 456,333. Masimo has a 52-week low of $70.48 and a 52-week high of $104.71. The company has a market cap of $4,540.00, a price-to-earnings ratio of 13.68, a P/E/G ratio of 3.32 and a beta of 0.72.

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

In other Masimo news, EVP Yongsam Lee sold 13,976 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $89.43, for a total transaction of $1,249,873.68. Following the completion of the sale, the executive vice president now directly owns 74,000 shares in the company, valued at approximately $6,617,820. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Steven Barker sold 10,000 shares of the business’s stock in a transaction that occurred 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 owns 73,249 shares of the company’s stock, valued at $6,592,410. The disclosure for this sale can be found here. In the last three months, insiders sold 63,074 shares of company stock valued at $5,618,945. Insiders own 16.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of MASI. Fox Run Management L.L.C. acquired a new position in Masimo in the fourth quarter valued at approximately $835,000. Alpha Windward LLC acquired a new position in Masimo in the fourth quarter valued at approximately $537,000. Prudential Financial Inc. lifted its holdings in Masimo by 23.9% in the third quarter. Prudential Financial Inc. now owns 685,268 shares of the medical equipment provider’s stock valued at $59,317,000 after acquiring an additional 132,053 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Masimo by 143.1% in the third quarter. Public Employees Retirement System of Ohio now owns 37,045 shares of the medical equipment provider’s stock valued at $3,207,000 after acquiring an additional 21,807 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in Masimo by 7.4% in the third quarter. California Public Employees Retirement System now owns 98,316 shares of the medical equipment provider’s stock valued at $8,510,000 after acquiring an additional 6,816 shares during the last quarter. Institutional investors and hedge funds own 83.69% of the company’s stock.

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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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