Zacks Investment Research downgraded shares of Masimo Corporation (NASDAQ:MASI) from a buy rating to a hold rating in a research report released on Tuesday.

According to Zacks, “Over the past one 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 second 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 second-quarter of 2017 results, beating the Zacks Consensus Estimate for both the counts.”

A number of other equities analysts also recently weighed in on the stock. BidaskClub downgraded shares of Masimo Corporation from a hold rating to a sell rating in a research note on Wednesday, August 9th. BTIG Research upgraded Masimo Corporation from a neutral rating to a buy rating and set a $100.00 price objective for the company in a report on Monday, August 14th. Stifel Nicolaus restated a buy rating and set a $108.00 price objective (up from $105.00) on shares of Masimo Corporation in a report on Thursday, August 3rd. Finally, Roth Capital increased their target price on Masimo Corporation from $96.00 to $105.00 and gave the stock a buy rating in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. Masimo Corporation currently has an average rating of Hold and a consensus target price of $95.00.

Shares of Masimo Corporation (NASDAQ MASI) traded up 1.08% during mid-day trading on Tuesday, reaching $86.37. 145,101 shares of the company traded hands. Masimo Corporation has a 52-week low of $53.78 and a 52-week high of $104.71. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 14.16 and a beta of 0.82. The company’s 50 day moving average is $85.28 and its 200 day moving average is $90.28.

Masimo Corporation (NASDAQ:MASI) last posted its quarterly earnings data on Wednesday, August 2nd. The medical equipment provider reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.12. The company had revenue of $192.90 million during the quarter, compared to the consensus estimate of $189.03 million. Masimo Corporation had a net margin of 45.90% and a return on equity of 23.45%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.57 EPS. On average, equities analysts forecast that Masimo Corporation will post $2.80 earnings per share for the current year.

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In related news, insider Rick Fishel sold 15,000 shares of the stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $92.85, for a total value of $1,392,750.00. Following the completion of the transaction, the insider now owns 35,022 shares of the company’s stock, valued at $3,251,792.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sanford Fitch sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $87.25, for a total value of $959,750.00. Following the sale, the director now owns 72,249 shares of the company’s stock, valued at approximately $6,303,725.25. The disclosure for this sale can be found here. Insiders sold 112,000 shares of company stock worth $10,444,090 over the last three months. 16.60% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in MASI. Alps Advisors Inc. raised its stake in shares of Masimo Corporation by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 4,997 shares of the medical equipment provider’s stock valued at $456,000 after purchasing an additional 13 shares in the last quarter. Sterling Capital Management LLC grew its stake in Masimo Corporation by 0.6% in the second quarter. Sterling Capital Management LLC now owns 7,803 shares of the medical equipment provider’s stock worth $711,000 after purchasing an additional 44 shares in the last quarter. Ifrah Financial Services Inc. grew its stake in Masimo Corporation by 1.2% in the second quarter. Ifrah Financial Services Inc. now owns 4,564 shares of the medical equipment provider’s stock worth $416,000 after purchasing an additional 53 shares in the last quarter. Hanseatic Management Services Inc. grew its stake in Masimo Corporation by 1.1% in the second quarter. Hanseatic Management Services Inc. now owns 5,273 shares of the medical equipment provider’s stock worth $481,000 after purchasing an additional 58 shares in the last quarter. Finally, Dubuque Bank & Trust Co. grew its stake in Masimo Corporation by 3.4% in the second quarter. Dubuque Bank & Trust Co. now owns 1,869 shares of the medical equipment provider’s stock worth $170,000 after purchasing an additional 61 shares in the last quarter. 83.21% of the stock is owned by institutional investors.

Masimo Corporation 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.

Analyst Recommendations for Masimo Corporation (NASDAQ:MASI)

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