Wedbush Reaffirms “Outperform” Rating for Masimo Corporation (MASI)

Masimo Corporation (NASDAQ:MASI)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a research note issued on Monday, May 22nd. They presently have a $112.00 target price on the medical equipment provider’s stock. Wedbush’s target price would suggest a potential upside of 22.93% from the company’s previous close.

A number of other research firms also recently commented on MASI. Zacks Investment Research upgraded Masimo Corporation from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research report on Tuesday, February 14th. Piper Jaffray Companies downgraded Masimo Corporation from an “overweight” rating to a “neutral” rating in a research report on Thursday, March 16th. Citigroup Inc. downgraded Masimo Corporation to a “market perform” rating and set a $60.00 price objective on the stock. in a research report on Monday, February 13th. Finally, Raymond James Financial, Inc. downgraded Masimo Corporation from an “outperform” rating to a “market perform” rating in a research report on Monday, February 13th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $78.00.

Analyst Recommendations for Masimo Corporation (NASDAQ:MASI)

Shares of Masimo Corporation (NASDAQ MASI) traded up 0.29% during midday trading on Monday, reaching $91.11. 639,658 shares of the company traded hands. Masimo Corporation has a 1-year low of $48.07 and a 1-year high of $104.71. The stock has a 50 day moving average price of $89.56 and a 200 day moving average price of $83.01. The firm has a market capitalization of $4.66 billion, a PE ratio of 15.47 and a beta of 0.89.

Masimo Corporation (NASDAQ:MASI) last posted its earnings results on Wednesday, May 3rd. The medical equipment provider reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.22. The company had revenue of $186.30 million for the quarter, compared to the consensus estimate of $184.14 million. Masimo Corporation had a return on equity of 24.19% and a net margin of 44.86%. Masimo Corporation’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 earnings per share. Analysts expect that Masimo Corporation will post $2.66 earnings per share for the current fiscal year.

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In related news, CEO Joe E. Kiani sold 154,159 shares of the company’s stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $99.70, for a total value of $15,369,652.30. Following the completion of the transaction, the chief executive officer now directly owns 219,241 shares in the company, valued at $21,858,327.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sanford Fitch sold 3,000 shares of the company’s stock in a transaction on Wednesday, March 22nd. The shares were sold at an average price of $93.23, for a total value of $279,690.00. Following the completion of the transaction, the director now owns 80,000 shares of the company’s stock, valued at $7,458,400. The disclosure for this sale can be found here. Insiders sold 562,201 shares of company stock worth $56,005,386 over the last 90 days. Company insiders own 16.60% of the company’s stock.

A number of large investors have recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Masimo Corporation during the first quarter valued at approximately $21,487,000. Caxton Associates LP purchased a new stake in shares of Masimo Corporation during the first quarter valued at approximately $466,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Masimo Corporation by 141.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 69,170 shares of the medical equipment provider’s stock valued at $6,451,000 after buying an additional 40,536 shares in the last quarter. Paloma Partners Management Co raised its stake in shares of Masimo Corporation by 134.3% in the first quarter. Paloma Partners Management Co now owns 24,543 shares of the medical equipment provider’s stock valued at $2,288,000 after buying an additional 14,068 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Masimo Corporation by 0.3% in the first quarter. AQR Capital Management LLC now owns 137,695 shares of the medical equipment provider’s stock valued at $12,841,000 after buying an additional 462 shares in the last quarter. Institutional investors own 83.48% of the company’s stock.

About Masimo Corporation

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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