Masimo (NASDAQ:MASI) Receives Hold Rating from BTIG Research

BTIG Research reiterated their hold rating on shares of Masimo (NASDAQ:MASI) in a research report sent to investors on Thursday morning, AnalystRatings.com reports.

MASI has been the topic of several other reports. Stifel Nicolaus boosted their target price on Masimo from $150.00 to $160.00 and gave the company a buy rating in a research note on Friday, May 17th. Needham & Company LLC reiterated a buy rating and issued a $158.00 price target (up from $155.00) on shares of Masimo in a research report on Tuesday, May 7th. BidaskClub upgraded Masimo from a buy rating to a strong-buy rating in a research report on Tuesday, May 14th. Zacks Investment Research upgraded Masimo from a hold rating to a buy rating and set a $153.00 price target for the company in a research report on Wednesday, May 8th. Finally, UBS Group lifted their price target on Masimo from $147.00 to $160.00 and gave the company a buy rating in a research report on Tuesday, May 7th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $159.25.

Shares of MASI traded down $2.24 during mid-day trading on Thursday, hitting $151.51. The stock had a trading volume of 384,852 shares, compared to its average volume of 378,751. The company has a market capitalization of $8.20 billion, a price-to-earnings ratio of 50.00, a P/E/G ratio of 3.04 and a beta of 1.14. The stock’s fifty day moving average price is $150.41. Masimo has a 52 week low of $98.23 and a 52 week high of $160.25.

Masimo (NASDAQ:MASI) last issued its earnings results on Wednesday, July 31st. The medical equipment provider reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.03. The firm had revenue of $229.60 million for the quarter, compared to analyst estimates of $222.46 million. Masimo had a return on equity of 17.82% and a net margin of 22.15%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.73 earnings per share. Equities analysts forecast that Masimo will post 3.15 EPS for the current year.

In other news, EVP Yongsam Lee sold 258 shares of Masimo stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $145.00, for a total value of $37,410.00. Following the completion of the transaction, the executive vice president now directly owns 73,736 shares in the company, valued at $10,691,720. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven Barker sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $145.00, for a total value of $1,450,000.00. Following the transaction, the director now owns 74,832 shares of the company’s stock, valued at $10,850,640. The disclosure for this sale can be found here. Over the last quarter, insiders sold 255,075 shares of company stock valued at $38,222,741. 11.50% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of MASI. Thrivent Financial for Lutherans lifted its position in shares of Masimo by 8.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 12,476 shares of the medical equipment provider’s stock worth $1,340,000 after purchasing an additional 987 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Masimo by 9.7% in the fourth quarter. Legal & General Group Plc now owns 59,298 shares of the medical equipment provider’s stock worth $6,367,000 after purchasing an additional 5,265 shares in the last quarter. Amalgamated Bank lifted its position in shares of Masimo by 59.8% in the fourth quarter. Amalgamated Bank now owns 10,658 shares of the medical equipment provider’s stock worth $1,144,000 after purchasing an additional 3,989 shares in the last quarter. Nordea Investment Management AB raised its position in Masimo by 1.9% during the fourth quarter. Nordea Investment Management AB now owns 38,139 shares of the medical equipment provider’s stock valued at $4,095,000 after acquiring an additional 708 shares in the last quarter. Finally, Norges Bank bought a new position in Masimo during the fourth quarter valued at approximately $53,357,000. Institutional investors and hedge funds own 82.80% of the company’s stock.

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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