Masimo (NASDAQ:MASI) Given New $180.00 Price Target at Piper Sandler

Masimo (NASDAQ:MASI) had its price target lifted by research analysts at Piper Sandler from $165.00 to $180.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the medical equipment provider’s stock. Piper Sandler’s target price suggests a potential upside of 11.56% from the company’s current price.

MASI has been the topic of a number of other reports. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a research report on Wednesday. Raymond James upgraded shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price objective on the stock in a report on Wednesday. Finally, BTIG Research upped their target price on shares of Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $152.57.

Masimo Price Performance

NASDAQ:MASI opened at $161.35 on Wednesday. The company has a fifty day moving average price of $132.63 and a 200 day moving average price of $125.88. The stock has a market cap of $8.58 billion, a P/E ratio of 109.76 and a beta of 0.97. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.09 and a quick ratio of 1.15. Masimo has a one year low of $75.36 and a one year high of $173.90.

Masimo (NASDAQ:MASI) last issued its earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share (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 analysts’ expectations of $502.87 million. Masimo had a return on equity of 14.07% and a net margin of 3.94%. Masimo’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 EPS. Analysts anticipate that Masimo will post 3.88 earnings per share for the current year.

Institutional Trading of Masimo

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Thrivent Financial for Lutherans grew its stake in Masimo by 42.1% in the second quarter. Thrivent Financial for Lutherans now owns 1,217,357 shares of the medical equipment provider’s stock valued at $153,314,000 after purchasing an additional 360,497 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Masimo by 107.8% in the second quarter. Point72 Asset Management L.P. now owns 677,677 shares of the medical equipment provider’s stock valued at $85,347,000 after buying an additional 351,523 shares in the last quarter. Bamco Inc. NY acquired a new position in Masimo during the first quarter worth $50,781,000. Farallon Capital Management LLC raised its position in 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 in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Masimo by 45.9% during the second quarter. Dimensional Fund Advisors LP now owns 525,594 shares of the medical equipment provider’s stock worth $66,201,000 after acquiring an additional 165,257 shares in the last quarter. 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.