NEW YORK (

TheStreet

) --

Masimo Corporation

(Nasdaq:

MASI

) hit a new 52-week high Friday as it traded at $32.80 compared with its previous 52-Week high of $32.79. Masimo is changing hands at $32.77 with 66,197 shares traded as of 11:30 a.m. ET. Average volume has been 573,300 shares over the past 30 days.

Masimo has a market cap of $1.9 billion and is part of the

health care

sector and

health services

industry. Shares are up 9.6% year to date as of the close of trading on Thursday.

Masimo Corporation, a medical technology company, develops, manufactures, and markets noninvasive patient monitoring products worldwide. The company has a P/E ratio of 26.4, equal to the average health services industry P/E ratio and above the S&P 500 P/E ratio of 16.

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TheStreet Ratings rates Masimo as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, solid stock price performance and increase in net income. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full

Masimo Ratings Report

.

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