Zacks Investment Research downgraded shares of Masimo (NASDAQ:MASI) from a buy rating to a hold rating in a research report released on Monday.
According to Zacks, “Masimo outperformed its industry in a year’s time. The company’s key Product revenue segment has been witnessing strong growth. The company is also seeing strong demand for its SET pulse oximetry products and rainbow platform. Expansion in gross and operating margins in the last couple of quarters is noteworthy. Management is optimistic about Masimo’s alliance with Philips. Increased R&D expenses imply greater focus on innovation. Management is also hopeful about receiving FDA clearance for ORi. In fact, the company recently received FDA approval for RD SET sensors with Masimo Measure-through Motion and Low Perfusion SET pulse oximetry. A raised guidance for 2018 paints a bright picture. On the flip side, Masimo’s Royalty and Other segment have been sluggish in recent times. Furthermore, the company faces fierce competition from the MedTech bigwigs. The stock is overvalued at the moment.”
Other equities research analysts also recently issued research reports about the stock. Stifel Nicolaus increased their price objective on shares of Masimo from $112.00 to $145.00 and gave the stock a buy rating in a research report on Tuesday, October 2nd. Needham & Company LLC initiated coverage on shares of Masimo in a research report on Friday, September 14th. They set a buy rating for the company. BidaskClub downgraded shares of Masimo from a strong-buy rating to a buy rating in a research report on Saturday, November 3rd. UBS Group initiated coverage on shares of Masimo in a research report on Tuesday, November 27th. They set a buy rating and a $137.00 price objective for the company. Finally, Piper Jaffray Companies increased their price objective on shares of Masimo to $120.00 and gave the stock a neutral rating in a research report on Thursday, November 1st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $119.00.
Shares of NASDAQ MASI opened at $108.27 on Monday. Masimo has a fifty-two week low of $80.69 and a fifty-two week high of $126.89. The company has a market capitalization of $5.74 billion, a P/E ratio of 44.19, a price-to-earnings-growth ratio of 2.38 and a beta of 1.07.
Masimo (NASDAQ:MASI) last announced its quarterly earnings data on Wednesday, October 31st. The medical equipment provider reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.02. The business had revenue of $210.58 million for the quarter, compared to analyst estimates of $207.62 million. Masimo had a net margin of 17.08% and a return on equity of 20.29%. Masimo’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 earnings per share. Equities analysts predict that Masimo will post 2.92 EPS for the current fiscal year.
In related news, insider Ramshorst David J. Van sold 2,675 shares of the firm’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $122.87, for a total value of $328,677.25. Following the completion of the transaction, the insider now owns 2,325 shares of the company’s stock, valued at $285,672.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ramshorst David J. Van sold 1,325 shares of the stock in a transaction on Monday, October 1st. The shares were sold at an average price of $125.00, for a total transaction of $165,625.00. Following the completion of the sale, the insider now owns 2,325 shares of the company’s stock, valued at approximately $290,625. The disclosure for this sale can be found here. In the last ninety days, insiders sold 309,180 shares of company stock valued at $37,570,849. 12.60% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Diversified Trust Co acquired a new stake in shares of Masimo during the 3rd quarter worth about $252,000. Vanguard Group Inc. lifted its stake in shares of Masimo by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 4,147,708 shares of the medical equipment provider’s stock worth $516,556,000 after buying an additional 109,065 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Masimo by 2.8% during the 3rd quarter. Legal & General Group Plc now owns 54,033 shares of the medical equipment provider’s stock worth $6,730,000 after buying an additional 1,480 shares during the last quarter. Lombard Odier Asset Management USA Corp acquired a new stake in shares of Masimo during the 3rd quarter worth about $7,223,000. Finally, Nordea Investment Management AB lifted its stake in shares of Masimo by 8.9% during the 3rd quarter. Nordea Investment Management AB now owns 37,431 shares of the medical equipment provider’s stock worth $4,661,000 after buying an additional 3,073 shares during the last quarter. Institutional investors own 82.74% of the company’s stock.
Masimo Company Profile
Masimo Corporation, a medical technology company, develops, manufactures, and markets noninvasive monitoring technologies worldwide. The company offers Masimo Signal Extraction Technology (SET) pulse oximetry with measure-through-motion and low-perfusion pulse oximetry monitoring to address the primary limitations of conventional pulse oximetry.
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