Piper Sandler Forecasts Strong Price Appreciation for Masimo (NASDAQ:MASI) Stock

Masimo (NASDAQ:MASI) had its target price boosted by Piper Sandler from $180.00 to $210.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical equipment provider’s stock. Piper Sandler’s price target indicates a potential upside of 23.53% from the stock’s previous close.

Several other brokerages have also recently commented on MASI. Raymond James raised shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price objective for the company in a research note on Wednesday, November 6th. Wells Fargo & Company boosted their price target on shares of Masimo from $171.00 to $193.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. BTIG Research increased their price objective on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Stifel Nicolaus reissued a “buy” rating and set a $190.00 price objective (up previously from $170.00) on shares of Masimo in a research note on Friday, November 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Masimo in a research note on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Masimo presently has an average rating of “Moderate Buy” and a consensus price target of $175.67.

Masimo Trading Down 0.4 %

NASDAQ:MASI opened at $170.00 on Wednesday. Masimo has a 1 year low of $101.61 and a 1 year high of $180.97. The stock’s fifty day moving average price is $159.87 and its two-hundred day moving average price is $134.44. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11. The company has a market cap of $9.10 billion, a P/E ratio of 117.24 and a beta of 1.01.

Masimo (NASDAQ:MASI) last issued its quarterly earnings data on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.14. The business had revenue of $504.60 million for the quarter, compared to analysts’ expectations of $502.87 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 EPS. As a group, analysts expect that Masimo will post 4.03 EPS for the current year.

Institutional Investors Weigh In On Masimo

A number of large investors have recently added to or reduced their stakes in MASI. Tidal Investments LLC bought a new position in shares of Masimo during the 3rd quarter valued at about $319,000. Geode Capital Management LLC boosted its stake in Masimo by 1.5% in the third quarter. Geode Capital Management LLC now owns 792,886 shares of the medical equipment provider’s stock worth $105,741,000 after buying an additional 11,984 shares in the last quarter. Barclays PLC boosted its stake in Masimo by 152.6% in the third quarter. Barclays PLC now owns 39,957 shares of the medical equipment provider’s stock worth $5,329,000 after buying an additional 24,137 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Masimo during the third quarter valued at approximately $519,000. Finally, MML Investors Services LLC raised its stake in shares of Masimo by 4.9% during the third quarter. MML Investors Services LLC now owns 2,056 shares of the medical equipment provider’s stock worth $274,000 after acquiring an additional 96 shares in the last quarter. Hedge funds and other 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.