Masimo (NASDAQ:MASI) Trading Up 3.1%

Shares of Masimo Co. (NASDAQ:MASI) rose 3.1% during trading on Tuesday . The stock traded as high as $115.68 and last traded at $114.80. Approximately 186,773 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 645,020 shares. The stock had previously closed at $111.36.

Analyst Ratings Changes

Several research firms have issued reports on MASI. Piper Sandler boosted their price objective on shares of Masimo from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $144.67.

Masimo Price Performance

The company has a current ratio of 2.09, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. The firm’s 50-day moving average price is $114.54 and its two-hundred day moving average price is $125.70. The stock has a market cap of $6.01 billion, a PE ratio of 77.28 and a beta of 0.98.

Masimo (NASDAQ:MASI) last posted its earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. Masimo had a return on equity of 14.07% and a net margin of 3.94%. The company had revenue of $496.30 million during the quarter, compared to analyst estimates of $493.92 million. During the same quarter in the prior year, the business earned $0.62 earnings per share. Masimo’s revenue was up 9.0% on a year-over-year basis. On average, equities analysts expect that Masimo Co. will post 3.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Masimo

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Riverview Trust Co purchased a new position in Masimo in the first quarter worth $25,000. GAMMA Investing LLC grew its stake in Masimo by 75.0% during the 2nd quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider’s stock worth $33,000 after buying an additional 111 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Masimo by 851.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 295 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 264 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Masimo by 133.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 350 shares of the medical equipment provider’s stock valued at $44,000 after buying an additional 200 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Masimo by 48.3% in the fourth quarter. Parallel Advisors LLC now owns 445 shares of the medical equipment provider’s stock worth $52,000 after acquiring an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 85.96% of the company’s stock.

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.