Masimo (NASDAQ:MASI) Research Coverage Started at Needham & Company LLC

Masimo (NASDAQ:MASI) Research Coverage Started at Needham & Company LLC

Investment analysts at Needham & Company LLC initiated coverage on shares of Masimo (NASDAQ:MASI) in a note issued to investors on Friday, September 14th, Marketbeat Ratings reports. The firm set a “buy” rating on the medical equipment provider’s stock.

A number of other equities analysts also recently commented on MASI. BidaskClub raised shares of Masimo from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 31st. ValuEngine downgraded shares of Masimo from a “buy” rating to a “hold” rating in a research note on Thursday, June 7th. Zacks Investment Research raised Masimo from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research report on Tuesday, July 3rd. Finally, Stifel Nicolaus upped their price target on Masimo from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $109.20.

Shares of Masimo stock traded down $0.26 on Friday, hitting $119.24. 368,600 shares of the company traded hands, compared to its average volume of 525,842. Masimo has a 52 week low of $80.69 and a 52 week high of $126.89. The company has a market capitalization of $6.45 billion, a PE ratio of 48.59, a P/E/G ratio of 2.91 and a beta of 1.00.

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Masimo (NASDAQ:MASI) last posted its quarterly earnings results on Wednesday, August 1st. The medical equipment provider reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The firm had revenue of $211.62 million during the quarter, compared to the consensus estimate of $207.85 million. Masimo had a net margin of 15.30% and a return on equity of 21.49%. The company’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 earnings per share. As a group, research analysts expect that Masimo will post 2.9 earnings per share for the current year.

In other Masimo news, CEO Joe E. Kiani sold 239,926 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $117.95, for a total value of $28,299,271.70. Following the sale, the chief executive officer now directly owns 236,061 shares of the company’s stock, valued at $27,843,394.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ramshorst David J. Van sold 1,325 shares of the company’s 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 directly owns 2,325 shares in the company, valued at $290,625. The disclosure for this sale can be found here. Insiders have sold 765,380 shares of company stock worth $90,720,456 over the last three months. Corporate insiders own 12.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. United Services Automobile Association boosted its stake in shares of Masimo by 0.7% during the 2nd quarter. United Services Automobile Association now owns 71,510 shares of the medical equipment provider’s stock worth $6,983,000 after acquiring an additional 485 shares in the last quarter. US Bancorp DE boosted its stake in shares of Masimo by 36.9% during the 2nd quarter. US Bancorp DE now owns 1,980 shares of the medical equipment provider’s stock worth $193,000 after acquiring an additional 534 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Masimo by 3.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,628 shares of the medical equipment provider’s stock worth $1,819,000 after acquiring an additional 535 shares in the last quarter. Janney Capital Management LLC boosted its stake in shares of Masimo by 11.2% during the 2nd quarter. Janney Capital Management LLC now owns 6,115 shares of the medical equipment provider’s stock worth $597,000 after acquiring an additional 614 shares in the last quarter. Finally, Profund Advisors LLC boosted its stake in shares of Masimo by 13.2% during the 1st quarter. Profund Advisors LLC now owns 8,118 shares of the medical equipment provider’s stock worth $714,000 after acquiring an additional 946 shares in the last quarter. 83.25% of the stock is currently owned by institutional investors and hedge funds.

About Masimo

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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