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

Needham & Company LLC reiterated their hold rating on shares of Masimo (NASDAQ:MASI) in a report issued on Wednesday morning,Benzinga reports.

MASI has been the topic of a number of other reports. Piper Sandler restated an “overweight” rating on shares of Masimo in a research report on Friday, October 18th. BTIG Research increased their target price on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Raymond James upgraded 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. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $163.67.

Masimo Stock Up 0.7 %

Shares of NASDAQ MASI opened at $162.41 on Wednesday. Masimo has a 52-week low of $81.82 and a 52-week high of $173.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.15 and a current ratio of 2.01. The business has a fifty day moving average of $133.52 and a two-hundred day moving average of $126.00. The stock has a market cap of $8.64 billion, a PE ratio of 112.01 and a beta of 0.97.

Masimo (NASDAQ:MASI) last announced its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.14. The firm had revenue of $504.60 million during the quarter, compared to the consensus estimate of $502.87 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm posted $0.63 EPS. As a group, equities research analysts expect that Masimo will post 4.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Masimo

Several hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Masimo by 33.9% in 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 purchasing an additional 10,683 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in Masimo by 1.4% during 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 acquiring an additional 547 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in Masimo during the 1st quarter worth $217,000. Qsemble Capital Management LP acquired a new position in shares of Masimo in the 1st quarter valued at $245,000. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Masimo by 11.6% in the 1st 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 purchasing an additional 5,688 shares during the last quarter. Institutional investors own 85.96% of the company’s stock.

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.