Zacks Investment Research cut shares of Masimo (NASDAQ:MASI) from a hold rating to a sell rating in a report released on Thursday morning.
According to Zacks, “Masimo’s Royalty and Other segment have been sluggish in recent times. Furthermore, the company faces fierce competition from the MedTech bigwigs. The stock is overvalued at the moment. On the positive side, the company’s key Product revenue segment has been witnessing strong growth. The company is also seeing strong demand for its SET pulse oximetry products and rainbow platform. Management is optimistic about Masimo’s alliance with Philips. Increased R&D expenses imply greater focus on innovation. Management is also hopeful about receiving FDA clearance for ORi. In fact, the company recently received FDA approval for RD SET sensors with Masimo Measure-through Motion and Low Perfusion SET pulse oximetry. A raised guidance for 2018 paints a bright picture. Masimo outperformed its industry in a year’s time.”
MASI has been the subject of several other reports. BidaskClub cut shares of Masimo from a buy rating to a hold rating in a research note on Tuesday, November 13th. Stifel Nicolaus boosted their target price on shares of Masimo from $112.00 to $145.00 and gave the company a buy rating in a research note on Tuesday, October 2nd. UBS Group started coverage on shares of Masimo in a research note on Tuesday, November 27th. They issued a buy rating and a $137.00 target price for the company. Piper Jaffray Companies boosted their target price on shares of Masimo to $120.00 and gave the company a neutral rating in a research note on Thursday, November 1st. Finally, Needham & Company LLC started coverage on shares of Masimo in a research note on Friday, September 14th. They issued a buy rating for the company. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $119.00.
Masimo (NASDAQ:MASI) last posted its earnings results on Wednesday, October 31st. The medical equipment provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. Masimo had a net margin of 17.08% and a return on equity of 20.29%. The firm had revenue of $210.58 million during the quarter, compared to analysts’ expectations of $207.62 million. During the same period in the previous year, the business posted $0.56 EPS. The business’s revenue was up 8.9% compared to the same quarter last year. Equities research analysts predict that Masimo will post 2.92 earnings per share for the current year.
In related news, COO Anand Sampath sold 30,000 shares of the business’s stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $110.00, for a total value of $3,300,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sanford Fitch sold 2,000 shares of the business’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $110.90, for a total transaction of $221,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 34,000 shares of company stock valued at $3,748,080. 12.60% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. First Hawaiian Bank increased its holdings in Masimo by 170.0% in the 4th quarter. First Hawaiian Bank now owns 1,080 shares of the medical equipment provider’s stock worth $116,000 after acquiring an additional 680 shares in the last quarter. US Bancorp DE grew its holdings in shares of Masimo by 36.9% during the second quarter. US Bancorp DE now owns 1,980 shares of the medical equipment provider’s stock worth $193,000 after buying an additional 534 shares in the last quarter. Koshinski Asset Management Inc. purchased a new stake in shares of Masimo during the third quarter worth $201,000. Ibex Investors LLC purchased a new stake in shares of Masimo during the third quarter worth $208,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of Masimo during the third quarter worth $227,000. 82.05% of the stock is owned by institutional investors.
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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