Masimo (NASDAQ:MASI) Reaches New 1-Year High on Earnings Beat

Masimo Co. (NASDAQ:MASI) reached a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $188.60 and last traded at $183.86, with a volume of 323487 shares. The stock had previously closed at $169.54.

The medical equipment provider reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.38. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The firm had revenue of $600.70 million during the quarter, compared to analysts’ expectations of $593.35 million.

Analyst Ratings Changes

Several equities research analysts have recently commented on MASI shares. Raymond James lifted their target price on Masimo from $170.00 to $194.00 and gave the company an “outperform” rating in a research note on Friday, December 27th. Wells Fargo & Company lifted their target price on Masimo from $193.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday. Stifel Nicolaus reissued a “buy” rating and issued a $190.00 target price (up from $170.00) on shares of Masimo in a research note on Friday, November 22nd. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a research note on Wednesday. Finally, Piper Sandler lifted their target price on Masimo from $210.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $194.80.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its position in shares of Masimo by 31.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 250 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 60 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Masimo by 40.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 224 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 64 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Masimo by 56.3% in the 4th quarter. Blue Trust Inc. now owns 197 shares of the medical equipment provider’s stock worth $33,000 after purchasing an additional 71 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Masimo by 0.8% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,815 shares of the medical equipment provider’s stock worth $1,622,000 after purchasing an additional 82 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in Masimo by 0.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 10,456 shares of the medical equipment provider’s stock worth $1,728,000 after acquiring an additional 83 shares in the last quarter. 85.96% of the stock is currently owned by institutional investors.

Masimo Trading Down 2.2 %

The company has a fifty day simple moving average of $172.95 and a two-hundred day simple moving average of $153.10. The company has a quick ratio of 1.11, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $9.97 billion, a P/E ratio of 128.41 and a beta of 1.02.

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.