Wells Fargo & Company Issues Positive Forecast for Masimo (NASDAQ:MASI) Stock Price

Masimo (NASDAQ:MASI) had its price target upped by equities researchers at Wells Fargo & Company from $193.00 to $205.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the medical equipment provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 13.25% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. Piper Sandler upped their target price on shares of Masimo from $180.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a research note on Wednesday. Stifel Nicolaus reissued a “buy” rating and issued a $190.00 target price (up previously from $170.00) on shares of Masimo in a report on Friday, November 22nd. Finally, Raymond James raised their target price on shares of Masimo from $170.00 to $194.00 and gave the stock an “outperform” rating in a research note on Friday, December 27th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $193.80.

Masimo Stock Up 6.0 %

Masimo stock opened at $181.02 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01. The firm has a 50 day moving average price of $172.65 and a 200 day moving average price of $152.54. Masimo has a fifty-two week low of $101.61 and a fifty-two week high of $184.51. The company has a market capitalization of $9.69 billion, a PE ratio of 127.95 and a beta of 1.02.

Masimo (NASDAQ:MASI) last announced its quarterly earnings data on Tuesday, February 25th. The medical equipment provider reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.38. The business had revenue of $600.70 million during the quarter, compared to analysts’ expectations of $593.35 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. Research analysts expect that Masimo will post 4.1 earnings per share for the current year.

Hedge Funds Weigh In On Masimo

Institutional investors have recently made changes to their positions in the business. FMR LLC grew its position in shares of Masimo by 19.8% during the fourth quarter. FMR LLC now owns 8,097,454 shares of the medical equipment provider’s stock worth $1,338,509,000 after buying an additional 1,340,836 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Masimo by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 4,586,702 shares of the medical equipment provider’s stock worth $758,182,000 after purchasing an additional 66,215 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Masimo by 80.5% in the 4th quarter. Capital Research Global Investors now owns 2,454,975 shares of the medical equipment provider’s stock valued at $405,807,000 after purchasing an additional 1,094,647 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Masimo by 119.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,735,167 shares of the medical equipment provider’s stock worth $286,823,000 after purchasing an additional 943,001 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its stake in Masimo by 8.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,662,376 shares of the medical equipment provider’s stock valued at $274,791,000 after buying an additional 135,888 shares in the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.

About Masimo

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.