Citigroup Inc. Downgrades Masimo Corporation (MASI) to Market Perform

Masimo Corporation (NASDAQ:MASI) was downgraded by Citigroup Inc. to a “market perform” rating in a research note issued on Monday, The Fly reports. They currently have a $60.00 price objective on the stock. Citigroup Inc.’s target price points to a potential downside of 21.71% from the stock’s current price.

A number of other research firms have also weighed in on MASI. Wedbush raised their price target on shares of Masimo Corporation to $85.00 in a report on Monday. Zacks Investment Research lowered shares of Masimo Corporation from a “buy” rating to a “hold” rating in a report on Monday, January 9th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $57.50.

Analyst Recommendations for Masimo Corporation (NASDAQ:MASI)

Masimo Corporation (NASDAQ:MASI) opened at 75.85 on Monday. The stock has a market capitalization of $3.77 billion, a P/E ratio of 36.62 and a beta of 0.98. The stock has a 50 day moving average price of $71.43 and a 200 day moving average price of $62.34. Masimo Corporation has a 12 month low of $33.03 and a 12 month high of $77.18.

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In other news, insider Jon Coleman sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $67.50, for a total value of $270,000.00. Following the transaction, the insider now directly owns 4,459 shares in the company, valued at approximately $300,982.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Raad Mark De sold 15,000 shares of the firm’s stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $75.00, for a total transaction of $1,125,000.00. Following the completion of the transaction, the chief financial officer now owns 17,660 shares in the company, valued at $1,324,500. The disclosure for this sale can be found here. Insiders have sold a total of 468,624 shares of company stock worth $30,180,521 over the last quarter. 16.60% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of MASI. Columbia Wanger Asset Management LLC bought a new position in Masimo Corporation during the fourth quarter valued at approximately $56,497,000. Acadian Asset Management LLC boosted its position in shares of Masimo Corporation by 633.2% in the third quarter. Acadian Asset Management LLC now owns 900,553 shares of the company’s stock valued at $53,573,000 after buying an additional 777,735 shares in the last quarter. Henderson Group PLC boosted its position in shares of Masimo Corporation by 57.6% in the second quarter. Henderson Group PLC now owns 725,066 shares of the company’s stock valued at $38,077,000 after buying an additional 265,011 shares in the last quarter. Matarin Capital Management LLC acquired a new position in shares of Masimo Corporation during the third quarter valued at about $14,716,000. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Masimo Corporation by 16.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,666,288 shares of the company’s stock valued at $99,127,000 after buying an additional 236,851 shares in the last quarter. Institutional investors own 82.14% of the company’s stock.

Masimo Corporation Company Profile

Masimo Corporation is a medical technology company that develops, manufactures 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. Its 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.

5 Day Chart for NASDAQ:MASI

The Fly

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