Shares of Masimo Corp (NASDAQ:MASI) scaled a new 52-week high of $48.87 on May 18, eventually closing a tad bit lower at $48.51. This translates into an impressive one-year return of roughly 35.8%, which is significantly higher than the S&P 500 return of 3.35%.
Yesterday’s rally reflects Masimo’s impressive first-quarter results, which beat the Zacks Consensus Estimate on both the fronts. The company also raised its revenue and earnings projections for full-year 2016.
This Zacks Rank #1 (Strong Buy) stock has a market cap of around $2.34 billion while average volume of shares traded over the last three months is roughly 356.6K.
Impressive Q1 Results
Masimo reported earnings of 53 cents per share, which beat the Zacks Consensus Estimate by a dime and increased 39.5% on a year-over-year basis.
Revenues increased 10.8% year over year to $171.2 million, which was better than the Zacks Consensus Estimate of $165 million.
Masimo raised its guidance for full-year 2016. Revenues are now expected to be $677 million, up from the earlier projection of $670 million. Masimo now projects earnings of $1.83 per share, up from the earlier estimated figure of $1.69.
Meanwhile, the Zacks Consensus Estimate for full-year 2016 has surged 14 cents (8.3%) to $1.83 over the last 30 days. Over the same period, full-year 2017 estimate increased 16 cents (8.5%) to $2.04.
Other Stocks to Consider
Other favorably ranked stocks in the medical space are SurModics (NASDAQ:SRDX) , Edwards Lifesciences (NYSE:EW) and IRadimed Corporation (NASDAQ:IRMD) . All the three stocks sport a Zacks Rank #1 (Strong Buy).
MASIMO CORP (MASI): Free Stock Analysis Report
IRADIMED CORP (IRMD): Free Stock Analysis Report
EDWARDS LIFESCI (EW): Free Stock Analysis Report
SURMODICS (SRDX): Free Stock Analysis Report
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