Needham & Company LLC Reiterates “Hold” Rating for Masimo (NASDAQ:MASI)

Masimo (NASDAQ:MASI)‘s stock had its “hold” rating reaffirmed by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports.

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

Masimo Trading Up 1.4 %

Shares of Masimo stock opened at $172.29 on Thursday. Masimo has a 1-year low of $101.61 and a 1-year high of $180.97. The company’s fifty day simple moving average is $169.23 and its 200-day simple moving average is $140.13. 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 stock has a market capitalization of $9.22 billion, a PE ratio of 118.82 and a beta of 1.01.

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

Institutional Trading of Masimo

Institutional investors and hedge funds have recently bought and sold shares of the stock. Edgestream Partners L.P. bought a new position in shares of Masimo during the 2nd quarter valued at about $645,000. Simplify Asset Management Inc. lifted its position in shares of Masimo by 120.4% in the second 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 in the last quarter. ING Groep NV lifted its position in shares of Masimo by 143.3% in the third 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 in the last quarter. Westfield Capital Management Co. LP boosted its stake in Masimo by 23.2% during the third quarter. Westfield Capital Management Co. LP now owns 1,394,056 shares of the medical equipment provider’s stock valued at $185,869,000 after buying an additional 262,370 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in Masimo by 195.6% during the 3rd quarter. National Bank of Canada FI now owns 132,500 shares of the medical equipment provider’s stock valued at $17,666,000 after buying an additional 87,675 shares in the last quarter. 85.96% of the stock is currently owned by 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.