Masimo Corporation (MASI) Upgraded to Buy at Zacks Investment Research

Masimo Corporation (NASDAQ:MASI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, November 2nd. The firm currently has a $98.00 price target on the medical equipment provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 10.63% from the company’s previous close.

According to Zacks, “Over the past one 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.”

Other equities research analysts also recently issued research reports about the stock. BidaskClub raised shares of Masimo Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Stifel Nicolaus started coverage on shares of Masimo Corporation in a research note on Monday, July 10th. They issued a “buy” rating and a $105.00 price target on the stock. Roth Capital raised their target price on shares of Masimo Corporation from $96.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, July 19th. Finally, BTIG Research raised shares of Masimo Corporation from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $97.17.

Masimo Corporation (NASDAQ MASI) opened at $88.58 on Thursday. Masimo Corporation has a twelve month low of $60.31 and a twelve month high of $104.71. The firm has a market cap of $4,512.44, a P/E ratio of 33.46, a PEG ratio of 2.94 and a beta of 0.75.

Masimo Corporation (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 Zacks’ consensus estimate of $0.53 by $0.17. Masimo Corporation had a net margin of 45.83% and a return on equity of 22.17%. The firm had revenue of $193.69 million during the quarter, compared to analyst estimates of $189.01 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. Masimo Corporation’s revenue for the quarter was up 15.6% on a year-over-year basis. analysts anticipate that Masimo Corporation will post 2.95 EPS for the current fiscal year.

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In other Masimo Corporation news, EVP Yongsam Lee sold 13,976 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $89.43, for a total value of $1,249,873.68. Following the transaction, the executive vice president now owns 74,000 shares of the company’s stock, valued at $6,617,820. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven Barker sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $90.00, for a total transaction of $900,000.00. Following the sale, the director now owns 73,249 shares in the company, valued at $6,592,410. The disclosure for this sale can be found here. In the last three months, insiders sold 28,976 shares of company stock valued at $2,599,324. 13.10% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the company. UBS Asset Management Americas Inc. lifted its holdings in shares of Masimo Corporation by 31.0% during the first quarter. UBS Asset Management Americas Inc. now owns 23,381 shares of the medical equipment provider’s stock worth $2,181,000 after purchasing an additional 5,535 shares during the period. Neuberger Berman Group LLC acquired a new stake in shares of Masimo Corporation during the first quarter worth $206,000. Teachers Advisors LLC lifted its holdings in shares of Masimo Corporation by 1.9% during the first quarter. Teachers Advisors LLC now owns 310,267 shares of the medical equipment provider’s stock worth $28,936,000 after purchasing an additional 5,678 shares during the period. Morgan Stanley lifted its holdings in shares of Masimo Corporation by 40.1% during the first quarter. Morgan Stanley now owns 291,996 shares of the medical equipment provider’s stock worth $27,232,000 after purchasing an additional 83,564 shares during the period. Finally, Amalgamated Bank raised its position in Masimo Corporation by 4.0% in the first quarter. Amalgamated Bank now owns 5,668 shares of the medical equipment provider’s stock worth $529,000 after acquiring an additional 217 shares in the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

Masimo Corporation 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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