Masimo’s (MASI) Hold Rating Reaffirmed at Needham & Company LLC

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

A number of other equities research analysts have also recently commented on the company. BTIG Research lifted their price objective on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Piper Sandler reaffirmed an “overweight” rating on shares of Masimo in a research note on Friday, October 18th. Finally, Raymond James upgraded shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price target on the stock in a research report on Wednesday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.57.

Masimo Price Performance

NASDAQ:MASI traded up $0.28 during mid-day trading on Wednesday, hitting $167.91. The company’s stock had a trading volume of 41,056 shares, compared to its average volume of 679,530. Masimo has a fifty-two week low of $75.36 and a fifty-two week high of $173.90. The company has a current ratio of 2.09, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. The stock has a fifty day moving average of $131.74 and a 200-day moving average of $125.64. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of 114.03 and a beta of 0.97.

Masimo (NASDAQ:MASI) last issued its quarterly earnings data on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.14. The company had revenue of $504.60 million during the quarter, compared to analysts’ expectations of $502.87 million. Masimo had a return on equity of 14.07% and a net margin of 3.94%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the business earned $0.63 earnings per share. As a group, equities analysts forecast that Masimo will post 3.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Masimo

Several institutional investors and hedge funds have recently modified their holdings of the business. Thrivent Financial for Lutherans raised its holdings in Masimo by 42.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,217,357 shares of the medical equipment provider’s stock worth $153,314,000 after buying an additional 360,497 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of 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 acquiring an additional 351,523 shares during the period. Bamco Inc. NY acquired a new stake in shares of Masimo during the first quarter worth $50,781,000. Farallon Capital Management LLC lifted its position in Masimo by 13.6% in the 1st quarter. Farallon Capital Management LLC now owns 1,489,563 shares of the medical equipment provider’s stock valued at $218,742,000 after acquiring an additional 177,914 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Masimo by 45.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 525,594 shares of the medical equipment provider’s stock worth $66,201,000 after purchasing an additional 165,257 shares during the period. 85.96% of the stock is currently owned by institutional investors and hedge funds.

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.