Masimo (NASDAQ:MASI) Shares Up 3.2%

Masimo Co. (NASDAQ:MASI)’s share price traded up 3.2% during trading on Friday . The stock traded as high as $116.57 and last traded at $115.32. 475,230 shares traded hands during trading, a decline of 26% from the average session volume of 642,672 shares. The stock had previously closed at $111.73.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Piper Sandler raised their price objective on Masimo from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $144.67.

Masimo Price Performance

The company has a 50 day simple moving average of $114.82 and a 200-day simple moving average of $125.08. The stock has a market cap of $6.14 billion, a price-to-earnings ratio of 76.01 and a beta of 0.98. The company has a current ratio of 2.09, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55.

Masimo (NASDAQ:MASI) last released its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.09. The firm had revenue of $496.30 million for the quarter, compared to the consensus estimate of $493.92 million. Masimo had a return on equity of 14.07% and a net margin of 3.94%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS. Research analysts expect that Masimo Co. will post 3.87 EPS for the current year.

Hedge Funds Weigh In On Masimo

Hedge funds have recently modified their holdings of the stock. Riverview Trust Co bought a new position in shares of Masimo in the 1st quarter valued at about $25,000. GAMMA Investing LLC grew its holdings in Masimo by 75.0% during the second quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider’s stock worth $33,000 after purchasing an additional 111 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Masimo by 851.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 295 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 264 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Masimo by 133.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 350 shares of the medical equipment provider’s stock worth $44,000 after purchasing an additional 200 shares during the period. Finally, Parallel Advisors LLC grew its holdings in Masimo by 48.3% during the fourth quarter. Parallel Advisors LLC now owns 445 shares of the medical equipment provider’s stock worth $52,000 after purchasing an additional 145 shares during the period. 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.