Masimo’s (MASI) “Hold” Rating Reiterated at Needham & Company LLC

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

Separately, Piper Sandler boosted their price target on Masimo from $160.00 to $165.00 and gave the stock an overweight rating in a research report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $144.67.

Masimo Stock Up 8.7 %

Shares of MASI opened at $121.42 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. Masimo has a 12-month low of $75.22 and a 12-month high of $153.93. The business’s 50 day moving average is $115.01 and its 200 day moving average is $124.98. The company has a market capitalization of $6.46 billion, a PE ratio of 82.60 and a beta of 0.98.

Masimo (NASDAQ:MASI) last announced its earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. Masimo had a return on equity of 14.07% and a net margin of 3.94%. The firm had revenue of $496.30 million during the quarter, compared to analysts’ expectations of $493.92 million. During the same quarter in the previous year, the business earned $0.62 EPS. The company’s quarterly revenue was up 9.0% on a year-over-year basis. Research analysts expect that Masimo will post 3.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp boosted its holdings in Masimo by 16.4% in the second quarter. Fifth Third Bancorp now owns 695 shares of the medical equipment provider’s stock valued at $88,000 after purchasing an additional 98 shares during the period. Oak Thistle LLC increased its position in Masimo by 5.2% in the 2nd quarter. Oak Thistle LLC now owns 2,079 shares of the medical equipment provider’s stock valued at $262,000 after acquiring an additional 103 shares during the period. GAMMA Investing LLC increased its position in Masimo by 75.0% in the 2nd quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider’s stock valued at $33,000 after acquiring an additional 111 shares during the period. HHM Wealth Advisors LLC boosted its holdings in Masimo by 25.0% in the 2nd quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider’s stock valued at $79,000 after purchasing an additional 125 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Masimo by 48.3% in the 4th quarter. Parallel Advisors LLC now owns 445 shares of the medical equipment provider’s stock valued at $52,000 after purchasing an additional 145 shares in the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

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.