Zacks Investment Research upgraded shares of Masimo (NASDAQ:MASI) from a hold rating to a buy rating in a research report report published on Wednesday morning, Zacks.com reports. The firm currently has $153.00 price objective on the medical equipment provider’s stock.
According to Zacks, “Masimo exited the first quarter on a robust note. The company continues to gain from its key Product segment, which witnessed solid growth in the quarter. Notably, the company’s non-invasive technology shipments surged in the quarter. Raised guidance for 2019 buoys optimism as well. Management is optimistic about Masimo’s recent initiative for hospital automation. The company recently launched its Iris Device Management System in the United States. Additionally, Masimo has launched Doctella to boost its remote care automation platform. Shares of Masimo outperformed the industry in a year’s time. Meanwhile, Masimo’s Royalty and Other segment witnessed significant softness in the quarter. In fact, management anticipates no meaningful contribution from the unit in 2019. Furthermore, Masimo expects foreign currency headwinds in 2019 to impact the top line. The company faces fierce competition from MedTech bigwigs.”
Other equities research analysts have also recently issued reports about the stock. Needham & Company LLC reiterated a buy rating on shares of Masimo in a research report on Tuesday, April 9th. BidaskClub cut shares of Masimo from a strong-buy rating to a buy rating in a research report on Wednesday, February 20th. UBS Group raised their price objective on shares of Masimo from $147.00 to $160.00 and gave the stock a buy rating in a research report on Tuesday. BTIG Research cut shares of Masimo from a buy rating to a neutral rating and set a $134.50 price target for the company. in a research report on Tuesday, April 16th. Finally, Piper Jaffray Companies reiterated an overweight rating and set a $140.00 price target on shares of Masimo in a research report on Wednesday, February 27th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $149.75.
Shares of NASDAQ MASI traded up $3.58 during mid-day trading on Wednesday, reaching $140.29. The company’s stock had a trading volume of 17,904 shares, compared to its average volume of 450,617. The stock has a market capitalization of $7.29 billion, a price-to-earnings ratio of 46.30, a price-to-earnings-growth ratio of 2.88 and a beta of 1.12. Masimo has a 1-year low of $95.53 and a 1-year high of $143.10.
Masimo (NASDAQ:MASI) last issued its earnings results on Monday, May 6th. The medical equipment provider reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.04. The business had revenue of $231.70 million during the quarter, compared to analysts’ expectations of $223.67 million. Masimo had a net margin of 22.55% and a return on equity of 19.53%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 earnings per share. Equities research analysts expect that Masimo will post 3.08 earnings per share for the current fiscal year.
In related news, insider Jon Coleman sold 2,000 shares of Masimo stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $130.00, for a total value of $260,000.00. Following the completion of the transaction, the insider now owns 13,201 shares in the company, valued at $1,716,130. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Ramshorst David J. Van sold 1,845 shares of Masimo stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $140.00, for a total transaction of $258,300.00. Following the completion of the transaction, the chief accounting officer now owns 1,695 shares of the company’s stock, valued at approximately $237,300. The disclosure for this sale can be found here. Insiders sold 33,722 shares of company stock valued at $4,582,310 in the last quarter. 11.50% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. FMR LLC increased its holdings in shares of Masimo by 17.8% in the 4th quarter. FMR LLC now owns 3,889,562 shares of the medical equipment provider’s stock valued at $417,622,000 after acquiring an additional 587,587 shares during the period. Norges Bank acquired a new position in Masimo in the 4th quarter valued at $53,357,000. Fundsmith LLP acquired a new position in Masimo in the 4th quarter valued at $51,470,000. Lord Abbett & CO. LLC acquired a new position in Masimo in the 4th quarter valued at $31,807,000. Finally, Scout Investments Inc. increased its stake in Masimo by 101.2% in the 4th quarter. Scout Investments Inc. now owns 545,828 shares of the medical equipment provider’s stock valued at $58,606,000 after buying an additional 274,485 shares during the period. Institutional investors own 83.16% 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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