Masimo (NASDAQ:MASI) Sets New 12-Month High Following Analyst Upgrade

Masimo Co. (NASDAQ:MASI) hit a new 52-week high during mid-day trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $171.00 to $193.00. Wells Fargo & Company currently has an overweight rating on the stock. Masimo traded as high as $178.84 and last traded at $178.84, with a volume of 28200 shares changing hands. The stock had previously closed at $174.65.

MASI has been the subject of a number of other research reports. Stifel Nicolaus reiterated a “buy” rating and issued a $190.00 target price (up previously from $170.00) on shares of Masimo in a report on Friday, November 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a research report on Wednesday, November 6th. 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 report on Wednesday, November 6th. Piper Sandler upped their price target on shares of Masimo from $165.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, BTIG Research raised their price objective on shares of Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $170.67.

Hedge Funds Weigh In On Masimo

A number of large investors have recently made changes to their positions in MASI. NBC Securities Inc. grew its stake in shares of Masimo by 47.1% during the third 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. Northwestern Mutual Wealth Management Co. raised its stake in Masimo by 133.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 350 shares of the medical equipment provider’s stock worth $44,000 after acquiring an additional 200 shares during the last quarter. HHM Wealth Advisors LLC lifted its position in Masimo by 25.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider’s stock worth $79,000 after acquiring an additional 125 shares during the period. Fifth Third Bancorp boosted its position 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 buying an additional 98 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Masimo in the 2nd quarter valued at $109,000. 85.96% of the stock is owned by institutional investors and hedge funds.

Masimo Stock Performance

The company has a market capitalization of $9.39 billion, a PE ratio of 121.86 and a beta of 1.01. The firm’s fifty day simple moving average is $154.88 and its 200 day simple moving average is $132.21. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11.

Masimo (NASDAQ:MASI) last posted its earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.14. The firm had revenue of $504.60 million for 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 company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $0.63 EPS. On average, research analysts predict that Masimo Co. will post 4.03 EPS for the current year.

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.