Zacks Investment Research upgraded shares of Masimo Corporation (NASDAQ:MASI) from a hold rating to a buy rating in a research note released on Thursday. Zacks Investment Research currently has $98.00 price objective on the medical equipment provider’s stock.

According to Zacks, “Over the past one 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.”

MASI has been the topic of several other research reports. Stifel Nicolaus reiterated a buy rating and issued a $108.00 price target (up previously from $105.00) on shares of Masimo Corporation in a report on Thursday, August 3rd. BidaskClub cut Masimo Corporation from a buy rating to a hold rating in a report on Wednesday, July 5th. BTIG Research upgraded Masimo Corporation from a neutral rating to a buy rating and set a $100.00 price target on the stock in a report on Monday, August 14th. Finally, Roth Capital raised their price target on Masimo Corporation from $96.00 to $105.00 and gave the company a buy rating in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Masimo Corporation has an average rating of Hold and a consensus target price of $97.17.

Masimo Corporation (NASDAQ:MASI) traded down $1.93 during trading on Thursday, reaching $86.00. The company had a trading volume of 333,270 shares, compared to its average volume of 384,306. The firm has a market cap of $4.37 billion, a P/E ratio of 32.37, a PEG ratio of 2.84 and a beta of 0.75.

Masimo Corporation (NASDAQ:MASI) last posted its quarterly earnings results on Tuesday, October 31st. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.17. The business had revenue of $193.69 million for the quarter, compared to analysts’ expectations of $189.01 million. Masimo Corporation had a return on equity of 22.17% and a net margin of 45.83%. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 earnings per share. equities analysts predict that Masimo Corporation will post 2.96 EPS for the current fiscal year.

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In other Masimo Corporation news, Director Steven Barker sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $90.00, for a total transaction of $900,000.00. Following the transaction, the director now owns 73,249 shares in the company, valued at $6,592,410. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Sanford Fitch sold 11,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $87.25, for a total value of $959,750.00. Following the transaction, the director now owns 72,249 shares in the company, valued at approximately $6,303,725.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,000 shares of company stock worth $2,309,200. Company insiders own 16.60% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Fortaleza Asset Management Inc. bought a new position in Masimo Corporation during the second quarter worth about $106,000. Dubuque Bank & Trust Co. raised its position in shares of Masimo Corporation by 3.4% during the second quarter. Dubuque Bank & Trust Co. now owns 1,869 shares of the medical equipment provider’s stock worth $170,000 after purchasing an additional 61 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Masimo Corporation by 13.2% during 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 during the period. Neuberger Berman Group LLC acquired a new stake in shares of Masimo Corporation during the first quarter worth about $206,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Masimo Corporation during the second quarter worth about $203,000. Hedge funds and other institutional investors own 82.96% of the company’s stock.

About Masimo Corporation

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.

Analyst Recommendations for Masimo Corporation (NASDAQ:MASI)

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