According to Zacks, “Masimo reported strong second quarter 2016 results. We believe the company's expanding product portfolio is the key catalyst. Wider adoption of 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 recent FDA 510 (k) approvals for the Radius 7 wearable and the O3 regional oximetry device is significantly positive. Further, the recent launch of Pronto Pulse CO-Oximeter, its next-generation SpHb Spot Check technology, for markets outside the U.S. and next-generation SedLine Brain Function monitoring technology are key catalysts in the long haul.”
Several other research analysts have also recently commented on MASI. Wedbush reissued an outperform rating and set a $63.00 target price (up from $60.00) on shares of Masimo Corp. in a research note on Thursday, August 4th. BTIG Research reissued a hold rating on shares of Masimo Corp. in a research note on Friday, August 5th. Finally, Piper Jaffray Cos. reissued an overweight rating and set a $55.00 target price (up from $52.00) on shares of Masimo Corp. in a research note on Friday, August 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $52.60.
Shares of Masimo Corp. (NASDAQ:MASI) opened at 59.24 on Tuesday. The stock has a market capitalization of $2.92 billion, a PE ratio of 31.06 and a beta of 0.70. Masimo Corp. has a 52 week low of $33.03 and a 52 week high of $60.52. The company’s 50 day moving average price is $58.98 and its 200-day moving average price is $51.21.
Masimo Corp. (NASDAQ:MASI) last released its earnings results on Wednesday, August 3rd. The company reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.16. Masimo Corp. had a return on equity of 29.07% and a net margin of 15.40%. The firm earned $172.64 million during the quarter, compared to analysts’ expectations of $166.02 million. During the same period in the previous year, the firm posted $0.36 EPS. Masimo Corp.’s revenue for the quarter was up 10.9% on a year-over-year basis. Equities research analysts predict that Masimo Corp. will post $2.02 EPS for the current year.
In other Masimo Corp. news, CEO Joe E. Kiani sold 33,536 shares of Masimo Corp. stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $60.00, for a total transaction of $2,012,160.00. Following the completion of the sale, the chief executive officer now directly owns 152,777 shares of the company’s stock, valued at approximately $9,166,620. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas Samuel Mcclenahan sold 10,000 shares of Masimo Corp. stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $59.00, for a total value of $590,000.00. Following the sale, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at $590,000. The disclosure for this sale can be found here. Company insiders own 16.60% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Masimo Corp. by 2.4% in the second quarter. Vanguard Group Inc. now owns 3,893,534 shares of the company’s stock worth $204,469,000 after buying an additional 90,732 shares during the period. BlackRock Fund Advisors increased its stake in shares of Masimo Corp. by 1.2% in the second quarter. BlackRock Fund Advisors now owns 2,902,515 shares of the company’s stock worth $152,426,000 after buying an additional 34,803 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Masimo Corp. by 0.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,429,437 shares of the company’s stock worth $75,067,000 after buying an additional 13,204 shares during the period. State Street Corp increased its stake in shares of Masimo Corp. by 3.1% in the first quarter. State Street Corp now owns 890,937 shares of the company’s stock worth $37,271,000 after buying an additional 26,485 shares during the period. Finally, BlackRock Advisors LLC increased its stake in shares of Masimo Corp. by 49.7% in the second quarter. BlackRock Advisors LLC now owns 741,931 shares of the company’s stock worth $38,962,000 after buying an additional 246,358 shares during the period. 79.88% of the stock is owned by institutional investors.
About Masimo Corp.
Masimo Corporation is a medical technology company that develops, manufactures and markets non-invasive patient monitoring products. The Company’s business is measure-through-motion and low-perfusion pulse oximetry monitoring, known as Masimo Signal Extraction Technology (SET) pulse oximetry. Its product offerings include monitoring blood constituents with an optical signature, optical organ oximetry monitoring, electrical brain function monitoring, acoustic respiration monitoring and exhaled gas monitoring.
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