Masimo (MASI) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Masimo (NASDAQ:MASI) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

According to Zacks, “Over the past 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.”

Several other analysts also recently weighed in on the company. BidaskClub downgraded Masimo from a hold rating to a sell rating in a report on Thursday, December 7th. Stifel Nicolaus restated a buy rating and issued a $108.00 price objective on shares of Masimo in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $97.17.

Shares of Masimo (NASDAQ MASI) traded up $1.30 on Wednesday, hitting $89.09. 428,958 shares of the stock were exchanged, compared to its average volume of 281,873. The stock has a market capitalization of $4,603.37, a price-to-earnings ratio of 14.10, a P/E/G ratio of 3.41 and a beta of 0.72. Masimo has a 1 year low of $67.25 and a 1 year high of $104.71.

Masimo (NASDAQ:MASI) last released its quarterly earnings data on Tuesday, October 31st. The medical equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.17. The firm had revenue of $193.69 million during the quarter, compared to the consensus estimate of $189.01 million. Masimo had a return on equity of 22.17% and a net margin of 45.83%. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 earnings per share. sell-side analysts predict that Masimo will post 2.95 earnings per share for the current fiscal year.

In other Masimo news, Director Steven Barker sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $90.00, for a total value of $900,000.00. Following the completion of the transaction, the director now directly owns 73,249 shares in the company, valued at $6,592,410. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Yongsam Lee sold 18,198 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $88.85, for a total transaction of $1,616,892.30. Following the completion of the transaction, the executive vice president now owns 70,800 shares of the company’s stock, valued at $6,290,580. The disclosure for this sale can be found here. Insiders sold 53,074 shares of company stock valued at $4,737,245 over the last 90 days. 16.60% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in MASI. DekaBank Deutsche Girozentrale raised its holdings in Masimo by 78.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,106 shares of the medical equipment provider’s stock worth $182,000 after purchasing an additional 925 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Masimo by 13.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,018 shares of the medical equipment provider’s stock worth $184,000 after purchasing an additional 236 shares in the last quarter. Advisor Group Inc. raised its holdings in Masimo by 38.4% in the second quarter. Advisor Group Inc. now owns 2,361 shares of the medical equipment provider’s stock worth $216,000 after purchasing an additional 655 shares in the last quarter. Intellectus Partners LLC bought a new position in Masimo in the second quarter worth about $237,000. Finally, Shelton Capital Management bought a new position in Masimo in the second quarter worth about $269,000. Institutional investors and hedge funds own 83.69% of the company’s stock.

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Masimo 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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