Masimo (NASDAQ:MASI) Stock Price Expected to Rise, Piper Sandler Analyst Says

Masimo (NASDAQ:MASI) had its price objective upped by analysts at Piper Sandler from $165.00 to $180.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the medical equipment provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 18.76% from the company’s current price.

MASI has been the subject of several other research reports. Raymond James raised Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 target price for the company in a research note on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a research report on Wednesday. Finally, BTIG Research increased their price target on Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $151.00.

Masimo Price Performance

Shares of NASDAQ MASI opened at $151.56 on Wednesday. Masimo has a 1-year low of $75.36 and a 1-year high of $153.93. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.09 and a quick ratio of 1.15. The business’s fifty day moving average price is $130.72 and its two-hundred day moving average price is $125.34. The firm has a market capitalization of $8.06 billion, a PE ratio of 103.10 and a beta of 0.97.

Masimo (NASDAQ:MASI) last issued its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.14. Masimo had a return on equity of 14.07% and a net margin of 3.94%. The company had revenue of $504.60 million for the quarter, compared to analyst estimates of $502.87 million. During the same period last year, the company earned $0.63 earnings per share. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, research analysts expect that Masimo will post 3.88 EPS for the current year.

Institutional Investors Weigh In On Masimo

A number of institutional investors have recently bought and sold shares of MASI. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Masimo by 33.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,196 shares of the medical equipment provider’s stock valued at $6,196,000 after buying an additional 10,683 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in Masimo by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 38,847 shares of the medical equipment provider’s stock worth $5,705,000 after purchasing an additional 547 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in Masimo in the 1st quarter worth approximately $217,000. Qsemble Capital Management LP acquired a new position in shares of Masimo during the first quarter worth approximately $245,000. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of Masimo by 11.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 54,839 shares of the medical equipment provider’s stock worth $8,053,000 after buying an additional 5,688 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Masimo Company Profile

Masimo Corporation develops, manufactures, and markets various patient monitoring technologies, and automation and connectivity solutions worldwide. The company offers masimo signal extraction technology (SET) pulse oximetry with measure-through motion and low perfusion pulse oximetry monitoring to address the primary limitations of conventional pulse oximetry; Masimo rainbow SET platform, including rainbow SET Pulse CO-Oximetry products that allows noninvasive monitoring of carboxyhemoglobin, methemoglobin, hemoglobin concentration, fractional arterial oxygen saturation, oxygen content, pleth variability index, rainbow pleth variability index, respiration rate from the pleth, and oxygen reserve index, as well as acoustic respiration monitoring, SedLine brain function monitoring, NomoLine capnography and gas monitoring, and regional oximetry.