Masimo (NASDAQ:MASI) Price Target Raised to $171.00

Masimo (NASDAQ:MASI) had its price objective boosted by Wells Fargo & Company from $160.00 to $171.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the medical equipment provider’s stock.

MASI has been the topic of a number of other research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a report on Wednesday. Piper Sandler lifted their price objective on Masimo from $165.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday. Raymond James raised Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price objective on the stock in a research note on Wednesday. Finally, BTIG Research boosted their price target on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $163.67.

Masimo Price Performance

Masimo stock traded up $1.06 during trading on Wednesday, reaching $162.41. The company had a trading volume of 368,946 shares, compared to its average volume of 659,362. The firm’s 50-day simple moving average is $133.52 and its 200 day simple moving average is $126.08. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.15 and a current ratio of 2.01. The firm has a market capitalization of $8.64 billion, a PE ratio of 112.01 and a beta of 0.97. Masimo has a 1-year low of $81.82 and a 1-year high of $173.90.

Masimo (NASDAQ:MASI) last announced its quarterly earnings data on Tuesday, November 5th. The medical equipment provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.14. The business had revenue of $504.60 million during 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%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. As a group, equities research analysts anticipate that Masimo will post 4.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MASI. Thrivent Financial for Lutherans lifted its holdings in Masimo by 42.1% during the second quarter. Thrivent Financial for Lutherans now owns 1,217,357 shares of the medical equipment provider’s stock worth $153,314,000 after acquiring an additional 360,497 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in Masimo by 107.8% during the second quarter. Point72 Asset Management L.P. now owns 677,677 shares of the medical equipment provider’s stock worth $85,347,000 after purchasing an additional 351,523 shares during the period. Bamco Inc. NY bought a new stake in shares of Masimo during the first quarter worth approximately $50,781,000. Farallon Capital Management LLC boosted its holdings in shares of Masimo by 13.6% during the first quarter. Farallon Capital Management LLC now owns 1,489,563 shares of the medical equipment provider’s stock worth $218,742,000 after acquiring an additional 177,914 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Masimo by 45.9% in the second quarter. Dimensional Fund Advisors LP now owns 525,594 shares of the medical equipment provider’s stock valued at $66,201,000 after buying an additional 165,257 shares during the period. 85.96% of the stock is currently owned by 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.