Masimo Corp. (NASDAQ:MASI)‘s stock had its “market perform” rating reaffirmed by investment analysts at BMO Capital Markets in a note issued to investors on Thursday, Analyst Ratings Network reports. They currently have a $24.00 target price on the stock, up from their previous target price of $22.00. BMO Capital Markets’ price objective suggests a potential downside of 15.43% from the stock’s previous close.
The analysts wrote, “MASI reported 3Q13 results that missed slightly on the top line, but beat on the bottom. Total revenue of $131.4 million (up 12% ex-fx) compared with the Street’s $132.5 million, including product sales of $124.5 million (up 12.7% ex-fx) and royalty revenue of $6.9 million (down 0.5%). Masimo shipped 44,000 (up 32.9% y/y) SET and Rainbow SET pulse oximetry units, bringing the worldwide installed base to 1,180,000 units (up 11.7% y/y), as the company continues to expand its footprint. By product line, SET revenue was $109.8 million (up 11.3% y/y); Rainbow SET revenue was $12.0 million (up 8.9%), and acquisitions contributed $2.7 million. EPS of $0.27 (up 14.6%) was a penny ahead of our consensus matching estimate of $0.26.”
Masimo Corp. (NASDAQ:MASI) traded down 7.26% on Thursday, hitting $26.32. 559,471 shares of the company’s stock traded hands. Masimo Corp. has a one year low of $19.03 and a one year high of $29.08. The stock’s 50-day moving average is $27.12 and its 200-day moving average is $23.79. The company has a market cap of $1.486 billion and a P/E ratio of 26.30.
Masimo Corp. (NASDAQ:MASI) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.27 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.26 by $0.01. The company had revenue of $131.40 million for the quarter, compared to the consensus estimate of $132.47 million. During the same quarter last year, the company posted $0.26 earnings per share. Masimo Corp.’s revenue was up 10.3% compared to the same quarter last year. Analysts expect that Masimo Corp. will post $1.15 EPS for the current fiscal year.
Masimo Corporation is a global medical technology company that develops, manufactures, and markets noninvasive patient monitoring products.
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