Masimo (NASDAQ:MASI) Upgraded to “Outperform” at Raymond James

Raymond James upgraded shares of Masimo (NASDAQ:MASI) from a market perform rating to an outperform rating in a report released on Wednesday, Marketbeat.com reports. Raymond James currently has $170.00 target price on the medical equipment provider’s stock.

A number of other equities analysts also recently commented on the company. Piper Sandler reiterated an “overweight” rating on shares of Masimo in a research report on Friday, October 18th. BTIG Research raised their target price on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Masimo in a research note on Friday, September 20th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $163.67.

Masimo Stock Performance

Shares of Masimo stock opened at $162.41 on Wednesday. Masimo has a one year low of $81.82 and a one year high of $173.90. The company has a market cap of $8.64 billion, a price-to-earnings ratio of 112.01 and a beta of 0.97. 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’s 50 day moving average price is $133.52 and its 200 day moving average price is $126.00.

Masimo (NASDAQ:MASI) last announced its quarterly earnings data on Tuesday, November 5th. The medical equipment provider reported $0.98 EPS for the quarter, topping 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 firm had revenue of $504.60 million for the quarter, compared to the consensus estimate of $502.87 million. During the same quarter last year, the business posted $0.63 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. On average, research analysts predict that Masimo will post 4.04 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. NBC Securities Inc. grew its stake in Masimo by 47.1% during the 3rd quarter. NBC Securities Inc. now owns 228 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 73 shares in the last quarter. Fifth Third Bancorp grew its stake in Masimo by 16.4% during the 2nd quarter. Fifth Third Bancorp now owns 695 shares of the medical equipment provider’s stock worth $88,000 after purchasing an additional 98 shares in the last quarter. Oak Thistle LLC grew its stake in Masimo by 5.2% during the 2nd quarter. Oak Thistle LLC now owns 2,079 shares of the medical equipment provider’s stock worth $262,000 after purchasing an additional 103 shares in the last quarter. 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 purchasing an additional 111 shares in the last quarter. Finally, HHM Wealth Advisors LLC grew its stake in Masimo by 25.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider’s stock worth $79,000 after purchasing an additional 125 shares in the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.

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.