Here's Why Investors Should Buy Masimo (MASI) Stock Now

By Zacks Investment ResearchStock MarketsMar 23, 2020 09:51PM ET

www.investing.com/analysis/heres-why-investors-should-buy-masimo-masi-stock-now-200518574

Here's Why Investors Should Buy Masimo (MASI) Stock Now

By Zacks Investment Research | Mar 23, 2020 09:51PM ET

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Masimo Corporation (NASDAQ:MASI) is likely to gain from a plethora of developments and an impressive view for 2020.

Over the past year, the stock has rallied 10.3% against the industry’s 24.9% decline. Meanwhile, the S&P 500 index has slipped 18.2%.

This $8.27-billion medical technology company currently has a Zacks Rank #2 (Buy). Masimo’s earnings are expected to grow 23% in the next five years. Also, the company has a trailing four-quarter positive earnings surprise of 5.3%, on average.

Let’s take a closer look at the factors that are working in favor of the company right now.

Positive Developments

Masimo has seen a plethora of developments lately.

The company is providing discounts on its Rainbow platform to help customers manage blood supplies. This is likely to tackle the blood shortage due to the COVID-19 outbreak worldwide.

Also, the company recently acquired Germany’s TNI medical. Notably, TNI’s novel softFlow is expected to boost Masimo’s respiratory care product portfolio. The COVID-19 wave has ramped up the demand for TNI’s softFlow technology. Hence, this technology will provide Masimo with additional tools to address the growing number of people affected by pulmonary diseases.

Moreover, the company recently inked a deal with Imprivata concerning the integration of Imprivata Medical Device Access into Masimo’s Hospital Automation solutions that feature the Root Patient Monitoring and Connectivity Platform.

Masimo Corporation Price and Consensus

Masimo Corporation Price and Consensus

Masimo Corporation price-consensus-chart | Masimo Corporation Quote

Further, Masimo has issued an impressive guidance for 2020.

The company expects 2020 product revenues of $1.04 billion, calling for growth of 12.3% year over year and11% at constant currency.

Adjusted earnings per share (EPS) are expected at $3.56.

Adjusted gross margin is projected at 68%, while adjusted operating margin is expected to be 24.7%.

Estimates Picture

For 2020, the Zacks Consensus Estimate for revenues is pegged at $1.04 billion, indicating an improvement of 10.4%. For adjusted EPS, the same stands at $3.56, suggesting growth of 10.6% from the year-ago quarter’s reported figure.

Other Key Picks

Other similar-ranked companies in the broader medical sector include Stryker Corporation (NYSE:SYK) , Accuray Incorporated (NASDAQ:ARAY) and The Cooper Companies (NYSE:COO) . You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Stryker’s long-term earnings growth is expected at 10.1%.

Accuray’s fiscal fourth-quarter earnings are expected to skyrocket 150%.

IDEXX Laboratories’ first-quarter earnings growth is projected at 5.1%.

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IDEXX Laboratories’ first-quarter earnings growth is projected at 5.1%.

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A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.

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Cooper Companies' long-term earnings growth is projected at 10.7%.Other similar-ranked companies in the broader medical sector include Stryker Corporation (SYK), Accuray Incorporated (ARAY) and The Cooper Companies (COO). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Stryker’s long-term earnings growth is expected at 10.1%.

Accuray’s fiscal fourth-quarter earnings are expected to skyrocket 150%.

Cooper Companies' long-term earnings growth is projected at 10.7%.

Stryker Corporation (SYK): Free Stock Analysis Report

Accuray Incorporated (ARAY): Free Stock Analysis Report

Masimo Corporation (MASI): Free Stock Analysis Report

The Cooper Companies, Inc. (COO): Free Stock Analysis Report

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Here's Why Investors Should Buy Masimo (MASI) Stock Now

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