Masimo (NASDAQ:MASI) Earns “Hold” Rating from Needham & Company LLC

Masimo (NASDAQ:MASI)‘s stock had its “hold” rating reissued by stock analysts at Needham & Company LLC in a research note issued on Thursday,Benzinga reports.

Several other equities analysts also recently weighed in on MASI. BTIG Research raised their price target on Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a report on Monday, October 14th. Piper Sandler raised their price objective on shares of Masimo from $180.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $190.00 target price (up from $170.00) on shares of Masimo in a report on Friday, November 22nd. Wells Fargo & Company increased their price target on shares of Masimo from $171.00 to $193.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Raymond James raised their price target on shares of Masimo from $170.00 to $194.00 and gave the company an “outperform” rating in a research report on Friday, December 27th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.67.

Masimo Price Performance

Shares of MASI opened at $172.29 on Thursday. Masimo has a fifty-two week low of $101.61 and a fifty-two week high of $180.97. The firm’s 50-day simple moving average is $169.23 and its two-hundred day simple moving average is $140.13. The stock has a market cap of $9.22 billion, a PE ratio of 118.82 and a beta of 1.01. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Edgestream Partners L.P. bought a new stake in Masimo in the 2nd quarter worth approximately $645,000. Simplify Asset Management Inc. boosted its stake in shares of Masimo by 120.4% in the 2nd quarter. Simplify Asset Management Inc. now owns 21,670 shares of the medical equipment provider’s stock worth $2,729,000 after buying an additional 11,838 shares during the last quarter. ING Groep NV boosted its stake in shares of Masimo by 143.3% in the 3rd quarter. ING Groep NV now owns 240,900 shares of the medical equipment provider’s stock worth $32,119,000 after buying an additional 141,900 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Masimo by 23.2% in the third quarter. Westfield Capital Management Co. LP now owns 1,394,056 shares of the medical equipment provider’s stock worth $185,869,000 after acquiring an additional 262,370 shares during the period. Finally, National Bank of Canada FI increased its position in Masimo by 195.6% during the third quarter. National Bank of Canada FI now owns 132,500 shares of the medical equipment provider’s stock valued at $17,666,000 after acquiring an additional 87,675 shares during the last quarter. 85.96% of the stock is owned by hedge funds and other institutional investors.

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.