Masimo’s (MASI) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Masimo (NASDAQ:MASI) in a research report report published on Thursday,Benzinga reports.

Other analysts have also issued research reports about the stock. Wells Fargo & Company upped their target price on shares of Masimo from $171.00 to $193.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Piper Sandler increased their price objective on shares of Masimo from $180.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. BTIG Research lifted their target price on shares of Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Raymond James upped their target price on Masimo from $170.00 to $194.00 and gave the company an “outperform” rating in a report on Friday, December 27th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $190.00 price target (up from $170.00) on shares of Masimo in a report on Friday, November 22nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Masimo currently has an average rating of “Moderate Buy” and an average target price of $179.67.

Masimo Price Performance

Shares of NASDAQ MASI opened at $169.94 on Thursday. The stock has a market cap of $9.10 billion, a price-to-earnings ratio of 117.20 and a beta of 1.01. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01. Masimo has a fifty-two week low of $101.61 and a fifty-two week high of $180.97. The firm’s 50-day simple moving average is $169.03 and its 200 day simple moving average is $139.75.

Masimo (NASDAQ:MASI) last posted its earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.14. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The company had revenue of $504.60 million for the quarter, compared to analyst estimates of $502.87 million. During the same quarter last year, the company earned $0.63 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, research analysts anticipate that Masimo will post 4.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Masimo

Institutional investors and hedge funds have recently bought and sold shares of the company. Edgestream Partners L.P. purchased a new position in shares of Masimo during the 2nd quarter valued at $645,000. Simplify Asset Management Inc. raised its stake in Masimo by 120.4% in the 2nd quarter. Simplify Asset Management Inc. now owns 21,670 shares of the medical equipment provider’s stock valued at $2,729,000 after acquiring an additional 11,838 shares during the period. ING Groep NV lifted its holdings in Masimo by 143.3% during the third quarter. ING Groep NV now owns 240,900 shares of the medical equipment provider’s stock valued at $32,119,000 after purchasing an additional 141,900 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in Masimo by 23.2% during the third quarter. Westfield Capital Management Co. LP now owns 1,394,056 shares of the medical equipment provider’s stock worth $185,869,000 after purchasing an additional 262,370 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of Masimo by 195.6% in the third quarter. National Bank of Canada FI now owns 132,500 shares of the medical equipment provider’s stock worth $17,666,000 after purchasing an additional 87,675 shares in the last quarter. 85.96% of the stock is owned by 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.