Needham & Company LLC Reaffirms Hold Rating for Masimo (NASDAQ:MASI)

Needham & Company LLC reissued their hold rating on shares of Masimo (NASDAQ:MASI) in a report released on Friday, Benzinga reports.

Separately, Piper Sandler upped their price objective on Masimo from $160.00 to $165.00 and gave the company an overweight rating in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $144.67.

Masimo Price Performance

Shares of NASDAQ:MASI opened at $125.00 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 2.09. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of 85.03 and a beta of 0.98. The business has a 50-day simple moving average of $115.33 and a two-hundred day simple moving average of $124.91. Masimo has a fifty-two week low of $75.22 and a fifty-two week high of $153.93.

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

Hedge Funds Weigh In On Masimo

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Masimo by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 4,781,343 shares of the medical equipment provider’s stock valued at $560,421,000 after buying an additional 26,473 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Masimo by 6.4% in the fourth quarter. Capital Research Global Investors now owns 2,269,189 shares of the medical equipment provider’s stock worth $265,972,000 after purchasing an additional 136,617 shares during the period. Farallon Capital Management LLC boosted its position in shares of Masimo by 13.6% in the first quarter. Farallon Capital Management LLC now owns 1,489,563 shares of the medical equipment provider’s stock worth $218,742,000 after purchasing an additional 177,914 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Masimo by 42.1% in the second quarter. Thrivent Financial for Lutherans now owns 1,217,357 shares of the medical equipment provider’s stock worth $153,314,000 after purchasing an additional 360,497 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in shares of Masimo by 59.6% during the 4th quarter. Schroder Investment Management Group now owns 877,539 shares of the medical equipment provider’s stock valued at $102,856,000 after purchasing an additional 327,863 shares during the period. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

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.