Masimo (MASI) Price Target Raised to $160.00 at Stifel Nicolaus

Masimo (NASDAQ:MASI) had its target price increased by Stifel Nicolaus from $150.00 to $160.00 in a research note issued to investors on Friday morning, The Fly reports. They currently have a buy rating on the medical equipment provider’s stock.

MASI has been the subject of several other research reports. Zacks Investment Research raised Masimo from a sell rating to a hold rating in a research note on Wednesday, January 23rd. Needham & Company LLC reissued a buy rating and set a $139.00 target price on shares of Masimo in a research note on Friday, February 1st. BidaskClub raised Masimo from a buy rating to a strong-buy rating in a research note on Tuesday, March 26th. Piper Jaffray Companies boosted their target price on Masimo from $140.00 to $148.00 and gave the stock an overweight rating in a research note on Tuesday, May 7th. Finally, UBS Group boosted their target price on Masimo from $147.00 to $160.00 and gave the stock a buy rating in a research note on Tuesday, May 7th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Masimo has an average rating of Buy and a consensus price target of $154.25.

NASDAQ MASI traded down $4.81 during trading on Friday, hitting $140.77. 375,135 shares of the company’s stock were exchanged, compared to its average volume of 491,088. The company has a market cap of $7.76 billion, a price-to-earnings ratio of 46.46, a PEG ratio of 2.91 and a beta of 1.12. Masimo has a fifty-two week low of $96.14 and a fifty-two week high of $147.91.

Masimo (NASDAQ:MASI) last issued its 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 firm had revenue of $231.70 million during the quarter, compared to the consensus estimate of $223.67 million. Masimo had a return on equity of 18.61% and a net margin of 22.49%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 earnings per share. As a group, equities research analysts forecast that Masimo will post 3.12 EPS for the current year.

In other news, insider Jon Coleman sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $135.00, for a total value of $270,000.00. Following the completion of the transaction, the insider now owns 13,201 shares of the company’s stock, valued at $1,782,135. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ramshorst David J. Van sold 1,845 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $140.00, for a total value of $258,300.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,695 shares of the company’s stock, valued at approximately $237,300. The disclosure for this sale can be found here. Insiders sold 45,572 shares of company stock valued at $6,300,560 in the last ninety days. 11.50% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in MASI. Lombard Odier Asset Management USA Corp boosted its holdings in Masimo by 8.7% in the first quarter. Lombard Odier Asset Management USA Corp now owns 25,000 shares of the medical equipment provider’s stock valued at $3,457,000 after acquiring an additional 2,000 shares during the last quarter. FMR LLC boosted its holdings in Masimo by 7.4% in the first quarter. FMR LLC now owns 4,178,808 shares of the medical equipment provider’s stock valued at $577,845,000 after acquiring an additional 289,246 shares during the last quarter. V Wealth Advisors LLC bought a new stake in Masimo in the first quarter valued at approximately $242,000. BlueMountain Capital Management LLC boosted its holdings in Masimo by 43.1% in the first quarter. BlueMountain Capital Management LLC now owns 102,867 shares of the medical equipment provider’s stock valued at $14,224,000 after acquiring an additional 30,992 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Masimo in the first quarter valued at approximately $317,000. 81.79% of the stock is owned by 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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