Masimo (NASDAQ:MASI) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Masimo (NASDAQ:MASI) in a report published on Wednesday morning, Benzinga reports.

Other equities analysts have also issued reports about the company. Stifel Nicolaus raised Masimo from a hold rating to a buy rating and upped their target price for the company from $148.00 to $170.00 in a research report on Monday, April 15th. Wells Fargo & Company raised Masimo from an equal weight rating to an overweight rating and lifted their price target for the stock from $117.00 to $160.00 in a research report on Monday, March 25th. Piper Sandler boosted their target price on shares of Masimo from $70.00 to $117.00 and gave the company a neutral rating in a research note on Monday, February 26th. Jefferies Financial Group reiterated a hold rating and set a $121.00 target price (up previously from $107.00) on shares of Masimo in a research report on Tuesday, January 30th. Finally, BTIG Research increased their target price on shares of Masimo from $145.00 to $166.00 and gave the stock a buy rating in a report on Monday, March 25th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $138.71.

Masimo Stock Performance

MASI traded up $0.94 during midday trading on Wednesday, hitting $120.96. 22,391 shares of the company were exchanged, compared to its average volume of 574,904. The firm has a market capitalization of $6.40 billion, a price-to-earnings ratio of 79.48 and a beta of 0.99. Masimo has a 1-year low of $75.22 and a 1-year high of $176.29. The company has a current ratio of 2.18, a quick ratio of 1.22 and a debt-to-equity ratio of 0.64. The company’s 50 day simple moving average is $136.19 and its 200 day simple moving average is $119.58.

Masimo (NASDAQ:MASI) last posted its earnings results on Tuesday, May 7th. The medical equipment provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. The company had revenue of $492.80 million for the quarter, compared to the consensus estimate of $487.70 million. Masimo had a return on equity of 13.77% and a net margin of 3.98%. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.87 earnings per share. As a group, sell-side analysts predict that Masimo will post 3.51 earnings per share for the current year.

Insider Transactions at Masimo

In related news, Director Craig B. Reynolds sold 40,000 shares of Masimo stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $136.17, for a total value of $5,446,800.00. Following the completion of the transaction, the director now owns 7,406 shares in the company, valued at approximately $1,008,475.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 9.70% of the company’s stock.

Hedge Funds Weigh In On Masimo

Hedge funds have recently modified their holdings of the business. SageView Advisory Group LLC purchased a new position in shares of Masimo in the 1st quarter worth about $216,000. State Board of Administration of Florida Retirement System grew its holdings in Masimo by 11.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 54,839 shares of the medical equipment provider’s stock worth $8,053,000 after buying an additional 5,688 shares in the last quarter. Qsemble Capital Management LP acquired a new position in shares of Masimo during the 1st quarter valued at $245,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of Masimo in the first quarter valued at $217,000. Finally, Texas Permanent School Fund Corp lifted its position in shares of Masimo by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 38,847 shares of the medical equipment provider’s stock valued at $5,705,000 after acquiring an additional 547 shares in the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

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.