Masimo (NASDAQ:MASI) Shares Down 4%

Masimo Co. (NASDAQ:MASI)’s share price fell 4% on Friday . The company traded as low as $125.12 and last traded at $126.26. 92,623 shares traded hands during trading, a decline of 85% from the average session volume of 632,095 shares. The stock had previously closed at $131.50.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MASI. Stifel Nicolaus upgraded Masimo from a “hold” rating to a “buy” rating and increased their price target for the stock from $148.00 to $170.00 in a research report on Monday, April 15th. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a research report on Wednesday, May 8th. BTIG Research increased their price target on Masimo from $145.00 to $166.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Wells Fargo & Company raised Masimo from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $117.00 to $160.00 in a report on Monday, March 25th. Finally, StockNews.com raised Masimo from a “sell” rating to a “hold” rating in a report on Friday, March 29th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Masimo currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.57.

Masimo Trading Down 4.2 %

The business has a 50 day simple moving average of $129.11 and a 200-day simple moving average of $129.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.31 and a current ratio of 2.31. The stock has a market capitalization of $6.70 billion, a P/E ratio of 85.67 and a beta of 1.00.

Masimo (NASDAQ:MASI) last issued its quarterly earnings results on Tuesday, May 7th. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. The firm had revenue of $492.80 million during the quarter, compared to analyst estimates of $487.70 million. Masimo had a return on equity of 13.26% and a net margin of 4.01%. The firm’s quarterly revenue was down 12.8% on a year-over-year basis. During the same period last year, the company posted $0.87 EPS. On average, analysts predict that Masimo Co. will post 3.63 EPS for the current year.

Insider Activity

In other news, Director Craig B. Reynolds sold 40,000 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $136.17, for a total transaction of $5,446,800.00. Following the completion of the sale, the director now owns 7,406 shares in the company, valued at approximately $1,008,475.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On Masimo

A number of institutional investors and hedge funds have recently modified their holdings of MASI. Riverview Trust Co acquired a new stake in shares of Masimo during the 1st quarter valued at $25,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Masimo by 140.6% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 243 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 142 shares in the last quarter. Byrne Asset Management LLC purchased a new stake in shares of Masimo in the fourth quarter valued at $28,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Masimo by 851.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 295 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 264 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Masimo in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 85.96% of the company’s stock.

Masimo Company Profile

Masimo Corporation develops, manufactures, and markets various patient monitoring technologies, and automation and connectivity solutions 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; Masimo rainbow SET platform, including rainbow SET Pulse CO-Oximetry products that allows noninvasive monitoring of carboxyhemoglobin, methemoglobin, hemoglobin concentration, fractional arterial oxygen saturation, oxygen content, pleth variability index, rainbow pleth variability index, respiration rate from the pleth, and oxygen reserve index, as well as acoustic respiration monitoring, SedLine brain function monitoring, NomoLine capnography and gas monitoring, and regional oximetry.