Masimo Co. (NASDAQ:MASI) Receives Average Rating of “Moderate Buy” from Brokerages

Masimo Co. (NASDAQ:MASI) has received an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $194.80.

Several brokerages have recently commented on MASI. Piper Sandler increased their target price on shares of Masimo from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Needham & Company LLC restated a “hold” rating on shares of Masimo in a report on Wednesday, February 26th. Raymond James raised their price objective on shares of Masimo from $170.00 to $194.00 and gave the stock an “outperform” rating in a report on Friday, December 27th. Finally, Wells Fargo & Company raised their price objective on shares of Masimo from $193.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th.

Masimo Stock Down 2.2 %

Shares of NASDAQ MASI opened at $165.82 on Monday. Masimo has a 12-month low of $101.61 and a 12-month high of $194.88. The firm has a market cap of $8.95 billion, a PE ratio of 114.36 and a beta of 1.04. The company’s fifty day simple moving average is $174.99 and its 200 day simple moving average is $159.82. The company has a quick ratio of 1.11, a current ratio of 2.01 and a debt-to-equity ratio of 0.50.

Masimo (NASDAQ:MASI) last announced its earnings results on Tuesday, February 25th. The medical equipment provider reported $1.80 EPS for the quarter, beating the consensus estimate of $1.42 by $0.38. The company had revenue of $600.70 million during the quarter, compared to the consensus estimate of $593.35 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. As a group, sell-side analysts forecast that Masimo will post 4.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Masimo

In other Masimo news, Director Craig B. Reynolds sold 2,053 shares of Masimo stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $166.13, for a total transaction of $341,064.89. Following the completion of the sale, the director now directly owns 16,581 shares in the company, valued at $2,754,601.53. The trade was a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Bilal Muhsin sold 30,000 shares of Masimo stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $167.49, for a total transaction of $5,024,700.00. Following the sale, the chief operating officer now owns 24,172 shares of the company’s stock, valued at approximately $4,048,568.28. The trade was a 55.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Masimo

Hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC raised its stake in shares of Masimo by 31.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 250 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 60 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Masimo by 40.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 224 shares of the medical equipment provider’s stock worth $37,000 after acquiring an additional 64 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Masimo by 56.3% during the fourth quarter. Blue Trust Inc. now owns 197 shares of the medical equipment provider’s stock worth $33,000 after acquiring an additional 71 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Masimo by 0.8% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,815 shares of the medical equipment provider’s stock worth $1,622,000 after acquiring an additional 82 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Masimo by 0.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 10,456 shares of the medical equipment provider’s stock worth $1,728,000 after acquiring an additional 83 shares in the last quarter. 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.