Masimo Co. (NASDAQ:MASI) – Analysts at Piper Jaffray Companies lowered their Q2 2019 earnings per share estimates for Masimo in a note issued to investors on Wednesday, October 31st. Piper Jaffray Companies analyst W. Quirk now forecasts that the medical equipment provider will post earnings per share of $0.74 for the quarter, down from their previous forecast of $0.76. Piper Jaffray Companies currently has a “Neutral” rating and a $120.00 price target on the stock.
MASI has been the subject of a number of other research reports. Zacks Investment Research cut Masimo from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. Needham & Company LLC began coverage on Masimo in a research report on Friday, September 14th. They issued a “buy” rating for the company. BidaskClub upgraded Masimo from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 17th. Finally, Stifel Nicolaus raised their price target on Masimo from $108.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, August 2nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $114.40.
Masimo (NASDAQ:MASI) last released its earnings results on Wednesday, October 31st. The medical equipment provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Masimo had a return on equity of 20.29% and a net margin of 17.08%. The company had revenue of $210.58 million during the quarter, compared to the consensus estimate of $207.62 million. During the same quarter last year, the company earned $0.56 earnings per share. Masimo’s quarterly revenue was up 8.9% compared to the same quarter last year.
In other Masimo news, insider Ramshorst David J. Van sold 1,325 shares of Masimo stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $125.00, for a total value of $165,625.00. Following the completion of the sale, the insider now owns 2,325 shares in the company, valued at approximately $290,625. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joe E. Kiani sold 239,926 shares of Masimo stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $117.95, for a total value of $28,299,271.70. Following the completion of the sale, the chief executive officer now owns 236,061 shares of the company’s stock, valued at approximately $27,843,394.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 676,033 shares of company stock valued at $81,000,568. 12.60% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of MASI. Northwestern Mutual Wealth Management Co. purchased a new stake in Masimo in the 2nd quarter valued at about $109,000. US Bancorp DE grew its holdings in Masimo by 36.9% in the 2nd quarter. US Bancorp DE now owns 1,980 shares of the medical equipment provider’s stock valued at $193,000 after buying an additional 534 shares during the period. Matisse Capital purchased a new stake in Masimo in the 2nd quarter valued at about $202,000. BancorpSouth Bank acquired a new position in shares of Masimo in the 2nd quarter valued at about $212,000. Finally, CIBC Asset Management Inc acquired a new position in shares of Masimo in the 3rd quarter valued at about $227,000. Institutional investors own 82.88% of the company’s stock.
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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