Masimo (NASDAQ:MASI) Stock Rating Upgraded by Raymond James

Raymond James upgraded shares of Masimo (NASDAQ:MASI) from a market perform rating to an outperform rating in a report released on Wednesday morning, MarketBeat.com reports. Raymond James currently has $170.00 target price on the medical equipment provider’s stock.

Other analysts have also issued reports about the company. Piper Sandler reaffirmed an “overweight” rating on shares of Masimo in a report on Friday, October 18th. BTIG Research lifted their target price on shares of Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Masimo in a report on Friday, September 20th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $163.67.

Masimo Stock Performance

NASDAQ:MASI traded up $1.06 during midday trading on Wednesday, hitting $162.41. The company’s stock had a trading volume of 368,946 shares, compared to its average volume of 659,362. Masimo has a fifty-two week low of $81.82 and a fifty-two week high of $173.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.15. The firm has a market cap of $8.64 billion, a P/E ratio of 112.01 and a beta of 0.97. The firm’s 50 day moving average is $133.52 and its 200-day moving average is $126.08.

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 the consensus estimate of $0.84 by $0.14. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The firm had revenue of $504.60 million during the quarter, compared to analysts’ expectations of $502.87 million. During the same quarter last year, the company posted $0.63 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. Equities analysts anticipate that Masimo will post 4.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Masimo

Several large investors have recently modified their holdings of MASI. NBC Securities Inc. lifted its holdings in shares of Masimo by 47.1% in the 3rd quarter. NBC Securities Inc. now owns 228 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 73 shares during the last quarter. GAMMA Investing LLC lifted its stake in Masimo by 75.0% during the second quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider’s stock worth $33,000 after purchasing an additional 111 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Masimo by 133.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 350 shares of the medical equipment provider’s stock worth $44,000 after buying an additional 200 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Masimo by 5,730.0% in the 1st quarter. Lazard Asset Management LLC now owns 583 shares of the medical equipment provider’s stock valued at $85,000 after buying an additional 573 shares during the period. Finally, HHM Wealth Advisors LLC raised its holdings in shares of 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 buying an additional 125 shares during the period. Institutional investors and hedge funds own 85.96% of the company’s stock.

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.