Short Interest in Masimo Co. (NASDAQ:MASI) Decreases By 20.6%

Masimo Co. (NASDAQ:MASI) saw a large decrease in short interest in December. As of December 31st, there was short interest totalling 2,740,000 shares, a decrease of 20.6% from the December 15th total of 3,450,000 shares. Based on an average trading volume of 561,600 shares, the days-to-cover ratio is presently 4.9 days. Currently, 5.6% of the shares of the company are short sold.

Wall Street Analyst Weigh In

MASI has been the subject of a number of recent analyst reports. BTIG Research upped their price target on shares of Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Raymond James upped their target price on shares of Masimo from $170.00 to $194.00 and gave the stock an “outperform” rating in a report on Friday, December 27th. Stifel Nicolaus reiterated a “buy” rating and issued a $190.00 price target (up previously from $170.00) on shares of Masimo in a research note on Friday, November 22nd. Piper Sandler boosted their price objective on Masimo from $180.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company increased their target price on Masimo from $171.00 to $193.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.67.

Hedge Funds Weigh In On Masimo

Several institutional investors have recently bought and sold shares of MASI. FMR LLC raised its position in shares of Masimo by 41.2% during the 3rd quarter. FMR LLC now owns 6,756,618 shares of the medical equipment provider’s stock valued at $900,860,000 after buying an additional 1,970,883 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Masimo by 42.1% during 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 during the period. Point72 Asset Management L.P. lifted its stake in shares of Masimo by 107.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 677,677 shares of the medical equipment provider’s stock valued at $85,347,000 after purchasing an additional 351,523 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of Masimo by 23.2% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,394,056 shares of the medical equipment provider’s stock worth $185,869,000 after purchasing an additional 262,370 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of Masimo by 916.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 216,051 shares of the medical equipment provider’s stock valued at $35,713,000 after purchasing an additional 194,788 shares during the last quarter. Institutional investors own 85.96% of the company’s stock.

Masimo Price Performance

Shares of Masimo stock traded up $2.35 during trading on Friday, reaching $172.29. 616,441 shares of the stock traded hands, compared to its average volume of 542,867. Masimo has a 52-week low of $101.61 and a 52-week high of $180.97. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11. The business has a fifty day simple moving average of $169.03 and a two-hundred day simple moving average of $139.75. The company has a market capitalization of $9.22 billion, a price-to-earnings ratio of 118.82 and a beta of 1.01.

Masimo (NASDAQ:MASI) last released its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share for the quarter, beating the consensus estimate 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 14.98% and a net margin of 3.85%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 EPS. Sell-side analysts expect that Masimo will post 4.03 EPS for the current year.

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.