Stock of The Day: Could Masimo Corporation Change Direction After Achieving Record High?

Stock of The Day: Could Masimo Corporation Change Direction After Achieving Record High?

The stock of Masimo Corporation (NASDAQ:MASI) reached all time high today, Oct, 10 and still has $97.34 target or 61.00% above today’s $60.46 share price. This indicates more upside for the $2.99B company. This technical setup was reported by If the $97.34 PT is reached, the company will be worth $1.82B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 245,255 shares traded hands. Masimo Corporation (NASDAQ:MASI) has risen 55.77% since March 7, 2016 and is uptrending. It has outperformed by 48.17% the S&P500.

Analysts await Masimo Corporation (NASDAQ:MASI) to report earnings on November, 3. They expect $0.42 earnings per share, up 16.67% or $0.06 from last year’s $0.36 per share. MASI’s profit will be $20.77M for 35.99 P/E if the $0.42 EPS becomes a reality. After $0.49 actual earnings per share reported by Masimo Corporation for the previous quarter, Wall Street now forecasts -14.29% negative EPS growth.

Masimo Corporation (NASDAQ:MASI) Ratings Coverage

Out of 3 analysts covering Masimo (NASDAQ:MASI), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Masimo has been the topic of 3 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Raymond James downgraded Masimo Corporation (NASDAQ:MASI) on Wednesday, January 6 to “Outperform” rating. On Wednesday, August 5 the stock rating was maintained by TH Capital with “Buy”.

According to Zacks Investment Research, “Masimo develops innovative monitoring technologies that significantly improve patient care — helping solve unsolvable problems. The company debuted Read-Through Motion and Low Perfusion pulse oximetry, known as SET, and with it substantially reduced false alarms and increased pulse oximetry’s ability to detect life-threatening events. Our Masimo SET platform has significantly addressed many of the previous technology limitations, has substantially contributed to improved patient outcomes and has been referred to by several industry sources as the gold standard in pulse oximetry. Masimo has introduced Masimo Rainbow SET Pulse CO-Oximetry, which, for the first time, noninvasively monitors the level of carbon monoxide and methemoglobin in the blood, allowing early detection and treatment of potentially life-threatening conditions. Masimo has the mission of Improving Patient Outcomes and Reducing Cost of Care by Taking Noninvasive Monitoring to New Sites and Applications.”

Insitutional Activity: The institutional sentiment increased to 1.32 in 2016 Q2. Its up 0.47, from 0.85 in 2016Q1. The ratio is positive, as 14 funds sold all Masimo Corporation shares owned while 85 reduced positions. 52 funds bought stakes while 79 increased positions. They now own 38.69 million shares or 0.37% less from 38.84 million shares in 2016Q1.
Principal Fincl Gp Inc, a Iowa-based fund reported 319,440 shares. M&T Savings Bank Corp has 0% invested in the company for 8,481 shares. Brown Cap Management Ltd Liability Corporation owns 166,272 shares or 0.14% of their US portfolio. Moreover, Matarin Cap Ltd Limited Liability Company has 0% invested in Masimo Corporation (NASDAQ:MASI) for 238,089 shares. New Amsterdam Prtnrs Limited Co Ny last reported 1.2% of its portfolio in the stock. Alps Advsrs Inc has 10,195 shares for 0% of their US portfolio. Whittier Trust last reported 7,500 shares in the company. Raymond James Service Advsrs, a Florida-based fund reported 7,188 shares. Rtw Investments last reported 0.46% of its portfolio in the stock. Sg Americas Securities Ltd Liability Co has 0% invested in the company for 5,265 shares. Robeco Institutional Asset Management Bv holds 0% or 12,178 shares in its portfolio. Verition Fund Ltd Com has invested 0.04% of its portfolio in Masimo Corporation (NASDAQ:MASI). American Intll Gp Incorporated has invested 0% of its portfolio in Masimo Corporation (NASDAQ:MASI). Legal & General Grp Public Limited Company has 10,573 shares for 0% of their US portfolio. Ls Inv Advsr Ltd last reported 1,839 shares in the company.

Insider Transactions: Since April 27, 2016, the stock had 0 insider buys, and 25 insider sales for $19.36 million net activity. KIANI JOE E also sold $267,877 worth of Masimo Corporation (NASDAQ:MASI) on Tuesday, September 27. 40,000 shares with value of $1.98M were sold by de Raad Mark on Tuesday, May 31. 8,000 shares were sold by Coleman Jon, worth $376,000 on Thursday, May 5. $119,623 worth of Masimo Corporation (NASDAQ:MASI) was sold by FITCH SANFORD on Wednesday, September 7. $262,500 worth of Masimo Corporation (NASDAQ:MASI) shares were sold by Van Ramshorst David J. $1.25M worth of Masimo Corporation (NASDAQ:MASI) was sold by Fishel Rick on Wednesday, May 25. Shares for $590,000 were sold by McClenahan Thomas Samuel on Friday, September 30.

MASI Company Profile

Masimo Corporation, incorporated on May 7, 1996, is a medical technology firm that develops, makes and markets non-invasive patient monitoring products. The Company’s business is measure-through-motion and low-perfusion pulse oximetry monitoring, known as Masimo Signal Extraction Technology (SET) pulse oximetry. The Company’s product offerings include monitoring blood constituents with an optical signature, optical organ oximetry monitoring, electrical brain function monitoring, acoustic respiration monitoring and exhaled gas monitoring. In addition, the Company has developed the Root patient monitoring and connectivity platform, the Radical-7 bedside and portable patient monitor and the Radius-7 wearable wireless patient monitor. It has also developed the Patient SafetyNet remote patient surveillance monitoring system, which allows over 200 patients to be monitored simultaneously and remotely through a personal computer (PC) viewing station or by care providers through their pagers, voice-over-Internet Protocol (IP) phones or smartphones.

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