Zacks Investment Research lowered shares of Masimo (NASDAQ:MASI) from a buy rating to a hold rating in a research note released on Wednesday morning.

According to Zacks, “Over the past 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.”

Several other equities research analysts have also recently issued reports on MASI. BidaskClub cut shares of Masimo from a hold rating to a sell rating in a research report on Thursday, December 7th. Stifel Nicolaus reiterated a buy rating and set a $108.00 price objective on shares of Masimo in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $97.17.

Masimo (NASDAQ MASI) opened at $89.09 on Wednesday. The firm has a market cap of $4,536.21, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 3.36 and a beta of 0.72. Masimo has a 1-year low of $67.25 and a 1-year high of $104.71.

Masimo (NASDAQ:MASI) last released its quarterly earnings data 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 firm had revenue of $193.69 million for the quarter, compared to analysts’ expectations of $189.01 million. Masimo had a net margin of 45.83% and a return on equity of 22.17%. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 earnings per share. analysts predict that Masimo will post 2.95 earnings per share for the current fiscal year.

In related news, EVP Yongsam Lee sold 13,976 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $89.43, for a total value of $1,249,873.68. Following the sale, the executive vice president now owns 74,000 shares in the company, valued at $6,617,820. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven Barker sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $90.00, for a total transaction of $900,000.00. Following the completion of the sale, the director now owns 73,249 shares in the company, valued at approximately $6,592,410. The disclosure for this sale can be found here. Insiders sold 53,074 shares of company stock worth $4,737,245 in the last 90 days. 16.60% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Masimo by 13.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,018 shares of the medical equipment provider’s stock valued at $184,000 after acquiring an additional 236 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in Masimo by 78.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,106 shares of the medical equipment provider’s stock valued at $182,000 after acquiring an additional 925 shares during the last quarter. Advisor Group Inc. increased its position in Masimo by 38.4% during the second quarter. Advisor Group Inc. now owns 2,361 shares of the medical equipment provider’s stock valued at $216,000 after acquiring an additional 655 shares during the last quarter. Intellectus Partners LLC bought a new position in Masimo during the second quarter valued at $237,000. Finally, Shelton Capital Management bought a new position in Masimo during the second quarter valued at $269,000. Institutional investors and hedge funds own 83.69% of the company’s stock.

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Masimo Company Profile

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.

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