Masimo (NASDAQ:MASI) Downgraded by BidaskClub

BidaskClub cut shares of Masimo (NASDAQ:MASI) from a buy rating to a hold rating in a research note released on Saturday morning, BidAskClub reports.

A number of other equities research analysts also recently commented on the stock. Raymond James upgraded shares of Masimo from a market perform rating to an outperform rating and set a $183.00 price target for the company in a report on Monday, March 2nd. ValuEngine downgraded shares of Masimo from a buy rating to a hold rating in a report on Friday, May 1st. Stifel Nicolaus boosted their target price on shares of Masimo from $200.00 to $245.00 and gave the company a buy rating in a report on Wednesday, April 29th. Needham & Company LLC downgraded shares of Masimo from a buy rating to a hold rating in a report on Monday, April 20th. Finally, UBS Group boosted their target price on shares of Masimo from $207.00 to $245.00 and gave the company a buy rating in a report on Thursday, April 30th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Masimo currently has a consensus rating of Buy and a consensus price target of $208.33.

Shares of NASDAQ MASI opened at $227.99 on Friday. The company has a market cap of $11.89 billion, a PE ratio of 61.79, a price-to-earnings-growth ratio of 3.19 and a beta of 0.91. Masimo has a 12 month low of $139.36 and a 12 month high of $258.00. The company has a 50-day simple moving average of $231.24 and a 200-day simple moving average of $191.19.

Masimo (NASDAQ:MASI) last issued its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. The business had revenue of $269.63 million during the quarter, compared to the consensus estimate of $268.40 million. Masimo had a net margin of 21.66% and a return on equity of 17.05%. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 earnings per share. As a group, analysts expect that Masimo will post 3.14 EPS for the current fiscal year.

In other Masimo news, CEO Joe E. Kiani sold 36,155 shares of Masimo stock in a transaction that occurred on Friday, April 3rd. The shares were sold at an average price of $185.53, for a total transaction of $6,707,837.15. Following the transaction, the chief executive officer now directly owns 166,680 shares of the company’s stock, valued at $30,924,140.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jon Coleman sold 2,000 shares of Masimo stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $190.00, for a total transaction of $380,000.00. Following the transaction, the insider now directly owns 14,465 shares in the company, valued at $2,748,350. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 351,114 shares of company stock worth $68,294,418. 11.50% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Altshuler Shaham Ltd lifted its position in Masimo by 91.0% during the first quarter. Altshuler Shaham Ltd now owns 170 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 81 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Masimo by 3.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,754 shares of the medical equipment provider’s stock valued at $488,000 after buying an additional 90 shares in the last quarter. Utah Retirement Systems lifted its position in shares of Masimo by 1.1% during the fourth quarter. Utah Retirement Systems now owns 9,021 shares of the medical equipment provider’s stock worth $1,426,000 after purchasing an additional 100 shares in the last quarter. Flagship Harbor Advisors LLC lifted its position in shares of Masimo by 29.8% during the first quarter. Flagship Harbor Advisors LLC now owns 436 shares of the medical equipment provider’s stock worth $77,000 after purchasing an additional 100 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of Masimo by 1.7% during the first quarter. Janney Montgomery Scott LLC now owns 6,131 shares of the medical equipment provider’s stock worth $1,086,000 after purchasing an additional 102 shares in the last quarter. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

About Masimo

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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