Masimo Co. (NASDAQ:MASI) Receives $216.50 Consensus Price Target from Analysts

Masimo Co. (NASDAQ:MASI) has received an average recommendation of “Buy” from the nine analysts that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $216.50.

MASI has been the subject of a number of analyst reports. ValuEngine cut Masimo from a “buy” rating to a “hold” rating in a research report on Friday, May 1st. UBS Group lifted their price objective on shares of Masimo from $207.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. BTIG Research reissued a “hold” rating on shares of Masimo in a research note on Thursday, July 9th. Raymond James restated a “buy” rating on shares of Masimo in a report on Friday, June 26th. Finally, Stifel Nicolaus raised their price objective on Masimo from $200.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th.

Shares of NASDAQ:MASI opened at $221.54 on Friday. The company’s fifty day moving average is $227.39 and its two-hundred day moving average is $196.01. Masimo has a 12-month low of $139.36 and a 12-month high of $258.00. The company has a market cap of $11.99 billion, a P/E ratio of 60.04, a price-to-earnings-growth ratio of 3.39 and a beta of 0.92.

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

In other Masimo news, insider Jon Coleman sold 1,250 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $235.00, for a total value of $293,750.00. Following the completion of the transaction, the insider now directly owns 13,715 shares in the company, valued at $3,223,025. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Micah W. Young sold 3,534 shares of Masimo stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $200.01, for a total transaction of $706,835.34. Following the sale, the chief financial officer now owns 2,087 shares in the company, valued at approximately $417,420.87. The disclosure for this sale can be found here. Insiders have sold a total of 212,759 shares of company stock worth $42,680,653 in the last three months. Corporate insiders own 11.50% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its holdings in shares of Masimo by 18.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 35,604 shares of the medical equipment provider’s stock valued at $5,628,000 after acquiring an additional 5,437 shares in the last quarter. Atria Investments LLC bought a new stake in shares of Masimo in the 4th quarter valued at approximately $202,000. Utah Retirement Systems lifted its holdings in shares of Masimo by 1.1% in the fourth quarter. Utah Retirement Systems now owns 9,021 shares of the medical equipment provider’s stock valued at $1,426,000 after buying an additional 100 shares during the period. ProShare Advisors LLC grew its position in Masimo by 10.0% in the fourth quarter. ProShare Advisors LLC now owns 5,329 shares of the medical equipment provider’s stock worth $842,000 after acquiring an additional 485 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Masimo by 5.5% in the 4th quarter. Franklin Resources Inc. now owns 142,011 shares of the medical equipment provider’s stock worth $22,447,000 after acquiring an additional 7,435 shares in the last quarter. 84.39% 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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Analyst Recommendations for Masimo (NASDAQ:MASI)

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