Masimo (NASDAQ:MASI) Stock Rating Reaffirmed by Needham & Company LLC

Masimo (NASDAQ:MASI)‘s stock had its “hold” rating reaffirmed by equities researchers at Needham & Company LLC in a note issued to investors on Friday, Benzinga reports.

Separately, Piper Sandler boosted their price objective on shares of Masimo from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $144.67.

Masimo Stock Up 5.1 %

Shares of Masimo stock traded up $5.70 during trading on Friday, hitting $117.43. 980,266 shares of the stock traded hands, compared to its average volume of 646,333. 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 stock’s fifty day simple moving average is $114.82 and its 200 day simple moving average is $125.08. The firm has a market cap of $6.25 billion, a P/E ratio of 79.88 and a beta of 0.98. Masimo has a 52-week low of $75.22 and a 52-week high of $153.93.

Masimo (NASDAQ:MASI) last posted its earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.09. Masimo had a net margin of 3.94% and a return on equity of 14.07%. The business had revenue of $496.30 million for the quarter, compared to the consensus estimate of $493.92 million. During the same quarter last year, the firm posted $0.62 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, equities analysts predict that Masimo 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 bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its stake in Masimo by 133.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 350 shares of the medical equipment provider’s stock worth $44,000 after buying an additional 200 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Masimo during the second quarter worth about $1,748,000. Deerfield Management Company L.P. Series C acquired a new position in shares of Masimo during the second quarter valued at about $233,000. Point72 Hong Kong Ltd purchased a new position in shares of Masimo in the 2nd quarter valued at approximately $3,183,000. Finally, Squarepoint Ops LLC acquired a new stake in Masimo in the 2nd quarter worth approximately $1,220,000. 85.96% of the stock is 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.