Wall Street analysts expect that Masimo Co. (NASDAQ:MASI) will report sales of $206.03 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Masimo’s earnings, with the highest sales estimate coming in at $207.00 million and the lowest estimate coming in at $205.10 million. Masimo reported sales of $193.69 million in the same quarter last year, which suggests a positive year over year growth rate of 6.4%. The business is scheduled to report its next quarterly earnings results on Tuesday, October 30th.
According to Zacks, analysts expect that Masimo will report full year sales of $850.24 million for the current year, with estimates ranging from $850.05 million to $850.60 million. For the next financial year, analysts expect that the business will post sales of $894.78 million per share, with estimates ranging from $890.04 million to $904.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Masimo.
Masimo (NASDAQ:MASI) last announced its earnings results on Wednesday, August 1st. The medical equipment provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $211.62 million during the quarter, compared to analysts’ expectations of $207.85 million. Masimo had a net margin of 15.30% and a return on equity of 21.49%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the company posted $0.83 EPS.
MASI has been the subject of several research reports. Stifel Nicolaus raised their price objective on shares of Masimo from $108.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, August 2nd. Zacks Investment Research upgraded shares of Masimo from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research report on Tuesday, July 3rd. ValuEngine upgraded shares of Masimo from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Finally, BidaskClub cut shares of Masimo from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 30th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Masimo has an average rating of “Buy” and a consensus price target of $102.60.
Shares of Masimo stock traded up $2.61 during mid-day trading on Thursday, reaching $121.55. 587,800 shares of the stock were exchanged, compared to its average volume of 524,498. The stock has a market capitalization of $6.13 billion, a P/E ratio of 48.89, a price-to-earnings-growth ratio of 2.77 and a beta of 1.02. Masimo has a fifty-two week low of $80.69 and a fifty-two week high of $121.96.
In other Masimo news, CEO Joe E. Kiani sold 239,926 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $117.95, for a total value of $28,299,271.70. Following the completion of the sale, the chief executive officer now owns 236,061 shares in the company, valued at approximately $27,843,394.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joe E. Kiani sold 60,074 shares of the firm’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $109.05, for a total transaction of $6,551,069.70. Following the completion of the sale, the chief executive officer now owns 168,514 shares of the company’s stock, valued at approximately $18,376,451.70. The disclosure for this sale can be found here. Insiders sold a total of 502,200 shares of company stock valued at $58,280,587 in the last 90 days. Corporate insiders own 12.60% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE boosted its stake in shares of Masimo by 36.9% in the 2nd quarter. US Bancorp DE now owns 1,980 shares of the medical equipment provider’s stock valued at $193,000 after purchasing an additional 534 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Masimo by 3.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,628 shares of the medical equipment provider’s stock valued at $1,819,000 after purchasing an additional 535 shares during the last quarter. Janney Capital Management LLC boosted its stake in shares of Masimo by 11.2% in the 2nd quarter. Janney Capital Management LLC now owns 6,115 shares of the medical equipment provider’s stock valued at $597,000 after purchasing an additional 614 shares during the last quarter. Profund Advisors LLC boosted its stake in shares of Masimo by 13.2% in the 1st quarter. Profund Advisors LLC now owns 8,118 shares of the medical equipment provider’s stock valued at $714,000 after purchasing an additional 946 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in shares of Masimo by 14.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,636 shares of the medical equipment provider’s stock valued at $746,000 after purchasing an additional 960 shares during the last quarter. 83.27% of the stock is currently owned by institutional investors.
Masimo Company Profile
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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