Masimo (NASDAQ:MASI) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Masimo (NASDAQ:MASI) had its price objective raised by Wells Fargo & Company from $160.00 to $171.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the medical equipment provider’s stock.

A number of other research analysts have also commented on MASI. Piper Sandler boosted their price target on shares of Masimo from $165.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday. Raymond James upgraded 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 raised their price target on 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 reiterated a “hold” rating on shares of Masimo in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $163.67.

Masimo Price Performance

Shares of NASDAQ MASI opened at $162.41 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.15 and a current ratio of 2.01. Masimo has a fifty-two week low of $81.82 and a fifty-two week high of $173.90. The stock has a market cap of $8.64 billion, a PE ratio of 112.01 and a beta of 0.97. The stock has a fifty day moving average of $133.52 and a 200-day moving average of $126.00.

Masimo (NASDAQ:MASI) last announced its quarterly 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 firm had revenue of $504.60 million for the quarter, compared to the consensus estimate of $502.87 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 earnings per share. Equities research analysts anticipate that Masimo will post 4.04 earnings per share for the current year.

Hedge Funds Weigh In On Masimo

A number of hedge funds and other institutional investors have recently modified their holdings of MASI. Mirae Asset Global Investments Co. Ltd. lifted its position in 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 worth $6,196,000 after buying an additional 10,683 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Masimo by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 38,847 shares of the medical equipment provider’s stock valued at $5,705,000 after acquiring an additional 547 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in Masimo in the 1st quarter worth $217,000. Qsemble Capital Management LP bought a new stake in shares of Masimo during the 1st quarter valued at about $245,000. Finally, State Board of Administration of Florida Retirement System lifted its holdings in Masimo by 11.6% in 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 buying an additional 5,688 shares during the period. 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.