UBS Group Raises Masimo (MASI) Price Target to $160.00

Masimo (NASDAQ:MASI) had its price objective lifted by stock analysts at UBS Group from $147.00 to $160.00 in a research note issued on Tuesday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. UBS Group’s price objective would indicate a potential upside of 13.15% from the stock’s current price.

Several other research firms also recently commented on MASI. BTIG Research downgraded shares of Masimo from a “buy” rating to a “neutral” rating and set a $134.50 price target for the company. in a research note on Tuesday, April 16th. Needham & Company LLC boosted their price target on shares of Masimo from $155.00 to $158.00 and gave the stock a “buy” rating in a research note on Tuesday. BidaskClub upgraded shares of Masimo from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 31st. Zacks Investment Research upgraded shares of Masimo from a “sell” rating to a “hold” rating in a research note on Wednesday, January 16th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $140.00 target price on shares of Masimo in a research note on Wednesday, February 27th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Masimo currently has an average rating of “Buy” and a consensus price target of $143.42.

Shares of NASDAQ:MASI traded up $1.84 during trading on Tuesday, hitting $141.41. The company’s stock had a trading volume of 7,901 shares, compared to its average volume of 476,735. The company has a market cap of $7.44 billion, a price-to-earnings ratio of 46.67, a price-to-earnings-growth ratio of 2.88 and a beta of 1.12. Masimo has a fifty-two week low of $95.53 and a fifty-two week high of $141.05.

Masimo (NASDAQ:MASI) last posted its quarterly earnings results on Monday, May 6th. The medical equipment provider reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.04. The business had revenue of $231.70 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm posted $0.75 earnings per share. As a group, research analysts expect that Masimo will post 3.08 earnings per share for the current fiscal year.

In related news, Director Steven Barker sold 10,000 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $135.00, for a total value of $1,350,000.00. Following the completion of the sale, the director now directly owns 74,832 shares of the company’s stock, valued at $10,102,320. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jon Coleman sold 2,000 shares of the business’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $135.00, for a total transaction of $270,000.00. Following the completion of the sale, the insider now directly owns 13,201 shares of the company’s stock, valued at $1,782,135. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,722 shares of company stock valued at $4,582,310. 11.50% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in MASI. CIBC Asset Management Inc purchased a new stake in shares of Masimo in the first quarter valued at about $252,000. Goelzer Investment Management Inc. purchased a new stake in shares of Masimo in the first quarter valued at about $1,590,000. Stephens Inc. AR purchased a new stake in shares of Masimo in the first quarter valued at about $282,000. Ownership Capital B.V. raised its holdings in shares of Masimo by 7.0% in the first quarter. Ownership Capital B.V. now owns 445,026 shares of the medical equipment provider’s stock valued at $61,538,000 after buying an additional 29,082 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of Masimo by 3.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 59,735 shares of the medical equipment provider’s stock valued at $8,260,000 after buying an additional 1,990 shares during the last quarter. 83.16% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Masimo (NASDAQ:MASI)

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