Masimo (NASDAQ:MASI) Downgraded to Sell at StockNews.com

StockNews.com lowered shares of Masimo (NASDAQ:MASI) from a hold rating to a sell rating in a report released on Thursday morning.

A number of other research firms have also recently commented on MASI. Needham & Company LLC lowered their price target on shares of Masimo from $136.00 to $86.00 and set a buy rating on the stock in a report on Wednesday, November 8th. Wells Fargo & Company lowered their target price on Masimo from $110.00 to $81.00 and set an equal weight rating on the stock in a research note on Wednesday, November 8th. Finally, Raymond James lowered Masimo from an outperform rating to a market perform rating in a report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $122.00.

Masimo Stock Performance

MASI stock opened at $93.06 on Thursday. The business has a 50 day moving average of $87.27 and a 200-day moving average of $124.45. The firm has a market cap of $4.92 billion, a PE ratio of 56.74 and a beta of 0.88. Masimo has a 12-month low of $75.22 and a 12-month high of $198.00. The company has a quick ratio of 1.13, a current ratio of 2.14 and a debt-to-equity ratio of 0.71.

Masimo (NASDAQ:MASI) last announced its earnings results on Tuesday, November 7th. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. The firm had revenue of $478.90 million during the quarter, compared to analyst estimates of $498.73 million. Masimo had a return on equity of 14.18% and a net margin of 4.19%. The business’s revenue was down 12.8% compared to the same quarter last year. During the same period last year, the firm posted $1.00 EPS. As a group, sell-side analysts expect that Masimo will post 2.93 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA bought a new position in shares of Masimo in the third quarter valued at approximately $132,699,000. Eminence Capital LP purchased a new stake in Masimo in the 3rd quarter worth approximately $90,859,000. FMR LLC boosted its holdings in Masimo by 11.5% in the 1st quarter. FMR LLC now owns 6,084,956 shares of the medical equipment provider’s stock valued at $1,122,918,000 after purchasing an additional 628,612 shares during the period. T. Rowe Price Investment Management Inc. purchased a new position in shares of Masimo during the 4th quarter valued at $80,154,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Masimo by 92.1% in the second quarter. Goldman Sachs Group Inc. now owns 856,664 shares of the medical equipment provider’s stock worth $111,940,000 after purchasing an additional 410,793 shares during the period. Hedge funds and other institutional investors 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 O3 regional oximetry.