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Masimo (MASI) Hits 52-Week High on Solid Growth Prospects
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Share price of Irvine, CA-based Masimo Corporation (MASI - Free Report) reached a new 52-week high of $63.45 on Dec 7, finally closing a tad lower at $62.17. The stock rallied 55.6% over the past one year, whereas the S&P 500’s grew only 9.5% over the same time frame. It has added roughly 52.5% year to date. Average volume of shares traded over the last three months was remarkable at approximately 338.58K. The stock has a market cap of $3.14 billion.
For the majority of last the six months, Masimo’s share price trend has considerably outperformed the Zacks categorized Medical Instruments Market. Particularly, the company posted impressive third-quarter 2016 results with respect to earnings and revenues, which drove its share price 8.5% higher on Nov 2. The raised guidance also raises optimism for Masimo. So far, the stock has gained 22.7%, whereas Medical Instruments Market has declined 6.1%.
Growth Drivers
In the last reported quarter, Masimo’s earnings not only grew 30.5% year over year but also beat the Zacks Consensus Estimate by 11.9%. Revenues improved almost 9.9% year over year to $167.6 million.
Additionally, Masimo’s long-term growth fundamentals are strong. The Zacks Rank #3 (Hold) company recorded a five-year CAGR of 9.5% for revenues and of 6.7% for earnings per share BNRI. Masimo has particularly seen an improvement in earnings over the last three years.
The company has an impressive Growth Style Score of B. Our Growth Style Score highlights all the vital metrics of the company’s financials to obtain a clearer picture of the quality and sustainability of its growth. Our research shows that stocks with Style Scores of ‘A’ or ‘B’ when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 offer the best investment opportunities.
Apart from that, estimate revision trend for Masimo is impressive. In the past 60 days, four estimates have gone up with no downward revision for the current quarter. Estimates have also improved from 50 cents per share to 51 cents in the past 60 days.
The company’s current year figures are also promising, with six estimates moving higher over the past two months compared with no downward revision. The magnitude of estimate revision has also been encouraging over the same time period, increasing from $2.02 per share to $2.13 over the last 60 days.
We are positive about Masimo’s flagship SET pulse oximetry business which represents considerable growth opportunities in international markets. Moreover, the recent FDA 510 (k) approvals for the Radius 7 wearable and the O3 regional oximetry device are significantly positive. Further, launch of Pronto Pulse CO-Oximeter, its next-generation SpHb Spot Check technology, for markets outside the U.S. and next-generation SedLine Brain Function monitoring technology can be considered key catalysts in the long run to maintain the growth trend.
Masimo has been collaborating with a number of public and private organizations to provide increasing access to its portfolio of patient monitoring technology.
Notably, Masimo inked an agreement with Royal Philips for joint marketing and sales program of patient monitoring and therapy solutions post third-quarter earnings. This marks the company’s progress to develop solutions designed to enhance clinical outcomes and patient safety. All these factors are expected to boost the company’s share price further in the coming period.
Key Picks
Some better-ranked medical stocks are NxStage Medical Inc. , Baxter International Inc. (BAX - Free Report) and Bovie Medical Corporation . NxStage Medical and Baxter International sport a Zacks Rank #1 (Strong Buy), while Bovie Medical carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
NxStage Medical surged 29.9% over the last one year compared with the S&P 500’s 9.5% over the same period. The company has a four-quarter average positive earnings surprise of 46.3%.
Baxter International rallied 23.9% over one year, much higher than the S&P 500. It has a trailing four-quarter average positive earnings surprise of 27%.
Bovie Medical recorded a 119.4% gain in the past one year, way better than the S&P 500’s 5.9%. The company has a trailing four-quarter positive average earnings surprise of 28.7%.
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Masimo (MASI) Hits 52-Week High on Solid Growth Prospects
Share price of Irvine, CA-based Masimo Corporation (MASI - Free Report) reached a new 52-week high of $63.45 on Dec 7, finally closing a tad lower at $62.17. The stock rallied 55.6% over the past one year, whereas the S&P 500’s grew only 9.5% over the same time frame. It has added roughly 52.5% year to date. Average volume of shares traded over the last three months was remarkable at approximately 338.58K. The stock has a market cap of $3.14 billion.
For the majority of last the six months, Masimo’s share price trend has considerably outperformed the Zacks categorized Medical Instruments Market. Particularly, the company posted impressive third-quarter 2016 results with respect to earnings and revenues, which drove its share price 8.5% higher on Nov 2. The raised guidance also raises optimism for Masimo. So far, the stock has gained 22.7%, whereas Medical Instruments Market has declined 6.1%.
Growth Drivers
In the last reported quarter, Masimo’s earnings not only grew 30.5% year over year but also beat the Zacks Consensus Estimate by 11.9%. Revenues improved almost 9.9% year over year to $167.6 million.
Additionally, Masimo’s long-term growth fundamentals are strong. The Zacks Rank #3 (Hold) company recorded a five-year CAGR of 9.5% for revenues and of 6.7% for earnings per share BNRI. Masimo has particularly seen an improvement in earnings over the last three years.
The company has an impressive Growth Style Score of B. Our Growth Style Score highlights all the vital metrics of the company’s financials to obtain a clearer picture of the quality and sustainability of its growth. Our research shows that stocks with Style Scores of ‘A’ or ‘B’ when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 offer the best investment opportunities.
Apart from that, estimate revision trend for Masimo is impressive. In the past 60 days, four estimates have gone up with no downward revision for the current quarter. Estimates have also improved from 50 cents per share to 51 cents in the past 60 days.
MASIMO CORP Price and Consensus
MASIMO CORP Price and Consensus | MASIMO CORP Quote
The company’s current year figures are also promising, with six estimates moving higher over the past two months compared with no downward revision. The magnitude of estimate revision has also been encouraging over the same time period, increasing from $2.02 per share to $2.13 over the last 60 days.
We are positive about Masimo’s flagship SET pulse oximetry business which represents considerable growth opportunities in international markets. Moreover, the recent FDA 510 (k) approvals for the Radius 7 wearable and the O3 regional oximetry device are significantly positive. Further, launch of Pronto Pulse CO-Oximeter, its next-generation SpHb Spot Check technology, for markets outside the U.S. and next-generation SedLine Brain Function monitoring technology can be considered key catalysts in the long run to maintain the growth trend.
Masimo has been collaborating with a number of public and private organizations to provide increasing access to its portfolio of patient monitoring technology.
Notably, Masimo inked an agreement with Royal Philips for joint marketing and sales program of patient monitoring and therapy solutions post third-quarter earnings. This marks the company’s progress to develop solutions designed to enhance clinical outcomes and patient safety. All these factors are expected to boost the company’s share price further in the coming period.
Key Picks
Some better-ranked medical stocks are NxStage Medical Inc. , Baxter International Inc. (BAX - Free Report) and Bovie Medical Corporation . NxStage Medical and Baxter International sport a Zacks Rank #1 (Strong Buy), while Bovie Medical carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
NxStage Medical surged 29.9% over the last one year compared with the S&P 500’s 9.5% over the same period. The company has a four-quarter average positive earnings surprise of 46.3%.
Baxter International rallied 23.9% over one year, much higher than the S&P 500. It has a trailing four-quarter average positive earnings surprise of 27%.
Bovie Medical recorded a 119.4% gain in the past one year, way better than the S&P 500’s 5.9%. The company has a trailing four-quarter positive average earnings surprise of 28.7%.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>