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

Masimo (NASDAQ:MASI)‘s stock had its “hold” rating reaffirmed by stock analysts at Needham & Company LLC in a report issued on Wednesday, Benzinga reports.

A number of other research firms also recently issued reports on MASI. Raymond James upgraded shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 target price for the company in a research report on Wednesday. BTIG Research upped their target price on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Piper Sandler reissued an “overweight” rating on shares of Masimo in a research note on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $148.86.

Masimo Stock Up 2.8 %

MASI stock opened at $151.56 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 2.09 and a debt-to-equity ratio of 0.55. The firm’s 50-day simple moving average is $130.72 and its 200 day simple moving average is $125.34. The stock has a market cap of $8.06 billion, a PE ratio of 103.10 and a beta of 0.97. Masimo has a fifty-two week low of $75.36 and a fifty-two week high of $153.93.

Masimo (NASDAQ:MASI) last issued its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.77 by $0.09. Masimo had a net margin of 3.94% and a return on equity of 14.07%. The firm had revenue of $496.30 million for the quarter, compared to analysts’ expectations of $493.92 million. During the same period in the previous year, the business earned $0.62 earnings per share. Masimo’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, sell-side analysts predict that Masimo will post 3.88 EPS for the current year.

Institutional Investors Weigh In On Masimo

Institutional investors and hedge funds have recently bought and sold shares of the business. Edgestream Partners L.P. acquired a new stake in Masimo during the second quarter valued at approximately $645,000. Simplify Asset Management Inc. grew its position in Masimo by 120.4% in the second quarter. Simplify Asset Management Inc. now owns 21,670 shares of the medical equipment provider’s stock valued at $2,729,000 after acquiring an additional 11,838 shares during the period. State Board of Administration of Florida Retirement System raised its stake in Masimo by 11.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 54,839 shares of the medical equipment provider’s stock worth $8,053,000 after acquiring an additional 5,688 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Masimo by 32.1% during the first quarter. Advisors Asset Management Inc. now owns 9,009 shares of the medical equipment provider’s stock valued at $1,323,000 after acquiring an additional 2,187 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Masimo by 33.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,196 shares of the medical equipment provider’s stock valued at $6,196,000 after purchasing an additional 10,683 shares in the last quarter. Institutional investors own 85.96% of the company’s stock.

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.