Needham & Company LLC Reaffirms Hold Rating for Masimo (NASDAQ:MASI)

Masimo (NASDAQ:MASI)‘s stock had its “hold” rating restated by Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports.

A number of other research firms also recently issued reports on MASI. Wells Fargo & Company increased their price target on shares of Masimo from $171.00 to $193.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Piper Sandler increased their target price on Masimo from $180.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Stifel Nicolaus restated a “buy” rating and set a $190.00 price target (up from $170.00) on shares of Masimo in a research report on Friday, November 22nd. Finally, Raymond James upped their price target on Masimo from $170.00 to $194.00 and gave the stock an “outperform” rating in a research note on Friday, December 27th. Two 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 presently has an average rating of “Moderate Buy” and an average target price of $194.80.

Masimo Price Performance

Shares of MASI stock opened at $186.20 on Wednesday. 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 has a fifty-two week low of $101.61 and a fifty-two week high of $192.62. The firm has a market cap of $9.97 billion, a P/E ratio of 128.41 and a beta of 1.02. The business’s 50 day moving average price is $172.95 and its 200-day moving average price is $153.10.

Masimo (NASDAQ:MASI) last released its quarterly earnings results on Tuesday, February 25th. The medical equipment provider reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.38. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The business had revenue of $600.70 million for the quarter, compared to analysts’ expectations of $593.35 million. On average, equities research analysts anticipate that Masimo will post 4.1 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of Masimo by 19.8% in the fourth quarter. FMR LLC now owns 8,097,454 shares of the medical equipment provider’s stock worth $1,338,509,000 after acquiring an additional 1,340,836 shares during the last quarter. Vanguard Group Inc. grew its position in Masimo by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 4,586,702 shares of the medical equipment provider’s stock valued at $758,182,000 after purchasing an additional 66,215 shares during the last quarter. Capital Research Global Investors grew its position in Masimo by 80.5% during the 4th quarter. Capital Research Global Investors now owns 2,454,975 shares of the medical equipment provider’s stock valued at $405,807,000 after purchasing an additional 1,094,647 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Masimo by 119.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,735,167 shares of the medical equipment provider’s stock valued at $286,823,000 after purchasing an additional 943,001 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its holdings in Masimo by 8.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,662,376 shares of the medical equipment provider’s stock worth $274,791,000 after buying an additional 135,888 shares during the last quarter. Institutional investors own 85.96% of the company’s stock.

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.