3 Stocks Pushing The Health Services Industry Downward

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One out of the three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading down 3 points (0.0%) at 16,578 as of Thursday, May 1, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,778 issues advancing vs. 1,187 declining with 180 unchanged.

The Health Services industry currently sits up 0.6% versus the S&P 500, which is up 0.1%. Top gainers within the industry include Heartware International ( HTWR), up 12.9%, Catamaran ( CTRX), up 11.5%, Wright Medical Group ( WMGI), up 9.7%, Hologic ( HOLX), up 8.1% and Waters ( WAT), up 1.8%.

TheStreet would like to highlight 3 stocks pushing the industry lower today:

3. Masimo ( MASI) is one of the companies pushing the Health Services industry lower today. As of noon trading, Masimo is down $2.79 (-10.4%) to $23.97 on heavy volume. Thus far, 1.4 million shares of Masimo exchanged hands as compared to its average daily volume of 459,900 shares. The stock has ranged in price between $23.70-$26.29 after having opened the day at $26.29 as compared to the previous trading day's close of $26.76.

Masimo Corporation, a medical technology company, develops, manufactures, and markets various noninvasive patient monitoring products worldwide. Masimo has a market cap of $1.5 billion and is part of the health care sector. The company has a P/E ratio of 28.0, above the S&P 500 P/E ratio of 17.7. Shares are down 9.8% year-to-date as of the close of trading on Wednesday. Currently there are 3 analysts that rate Masimo a buy, 1 analyst rates it a sell, and 4 rate it a hold.

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, solid stock price performance, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Masimo Ratings Report now.

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