Masimo Corporation (NASDAQ: MASI) stock fell -3.00% on Tuesday to $167.58 against a previous-day closing price of $172.76. With 0.51 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.57 million shares. During the session, the Medical Instruments & Supplies company that operates in wider Healthcare sector, reached to the highest price of $174.58 whereas the lowest price it dropped to was $167.21. The 52-week range on MASI shows that it touched its highest point at $237.85 and its lowest point at $108.89 during that stretch. It currently has a 1-year price target of $166.14. Beta for the stock currently stands at 0.85.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MASI was up-trending over the past week, with a rise of 3.44%, but this was up by 14.13% over a month. Three-month performance surged to 23.26% while six-month performance rose 20.72%. The stock lost -23.10% in the past year, while it has gained 13.27% so far this year. A look at the trailing 12-month EPS for MASI yields 3.02 with Next year EPS estimates of 4.39. For the next quarter, that number is 1.18. This implies an EPS growth rate of -3.80% for this year and -1.17% for next year. EPS is expected to grow by 11.90% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -7.40%.
Float and Shares Shorts:
At present, 52.50 million MASI shares are outstanding with a float of 48.15 million shares on hand for trading. On Oct 13, 2022, short shares totaled 3.08 million, which was 5.87% higher than short shares on Sep 14, 2022. In addition to Mr. Joseph E. Kiani as the firm’s Founder, CEO & Chairman, Mr. Micah Young serves as its Exec. VP of Fin. & CFO.
Through their ownership of 96.41% of MASI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 9.86% of MASI, in contrast to 46.55% held by mutual funds. Shares owned by individuals account for 43.00%. As the largest shareholder in MASI with 8.84% of the stake, Politan Capital Management LP holds 4,648,869 shares worth 4,648,869. A second-largest stockholder of MASI, The Vanguard Group, Inc., holds 4,521,527 shares, controlling over 8.60% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in MASI, holding 4,121,883 shares or 7.84% stake. With a 3.04% stake in MASI, the Fidelity Select Medical Technolog is the largest stakeholder. A total of 1,599,600 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.89% of MASI stock, is the second-largest Mutual Fund holder. It holds 1,519,029 shares valued at 224.74 million. iShares Core S&P Mid Cap ETF holds 2.84% of the stake in MASI, owning 1,491,990 shares worth 220.74 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MASI since 8 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With MASI analysts setting a high price target of $180.00 and a low target of $135.00, the average target price over the next 12 months is $166.14. Based on these targets, MASI could surge 7.41% to reach the target high and fall by -19.44% to reach the target low. Reaching the average price target will result in a decline of -0.86% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. MASI will report FY 2022 earnings on 02/14/2024. Analysts have provided yearly estimates in a range of $4.48 being high and $4.42 being low. For MASI, this leads to a yearly average estimate of $4.45. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Masimo Corporation surprised analysts by $0.08 when it reported $1.00 EPS against a consensus estimate of $0.92. The surprise factor in the prior quarter was $0.15. Based on analyst estimates, the high estimate for the next quarter is $1.21 and the low estimate is $1.15. The average estimate for the next quarter is thus $1.18.
Summary of Insider Activity:
Insiders traded MASI stock several times over the past three months with 11 Buys and 0 Sells. In these transactions, 46,818 shares were bought while 0 shares were sold. The number of buy transactions has increased to 20 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 180,746 while 0 shares were sold.