Needham & Company LLC Reiterates “Hold” Rating for Masimo (NASDAQ:MASI)

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

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company raised their price target on Masimo from $171.00 to $193.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. BTIG Research raised their target price on Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $190.00 price target (up from $170.00) on shares of Masimo in a report on Friday, November 22nd. Raymond James raised their price objective on shares of Masimo from $170.00 to $194.00 and gave the company an “outperform” rating in a research report on Friday, December 27th. Finally, Piper Sandler upped their target price on shares of Masimo from $180.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.67.

Masimo Price Performance

Shares of MASI traded down $2.52 during trading hours on Thursday, hitting $169.55. The stock had a trading volume of 405,332 shares, compared to its average volume of 474,443. The stock has a market capitalization of $9.08 billion, a price-to-earnings ratio of 116.93 and a beta of 1.01. 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 company’s fifty day moving average is $168.86 and its two-hundred day moving average is $139.54. Masimo has a 52 week low of $101.61 and a 52 week high of $180.97.

Masimo (NASDAQ:MASI) last released its quarterly 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 analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 earnings per share. On average, analysts anticipate that Masimo will post 4.03 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. FMR LLC lifted its holdings in Masimo by 41.2% in the third 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 during the period. Thrivent Financial for Lutherans raised its position in shares of Masimo by 42.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,217,357 shares of the medical equipment provider’s stock valued at $153,314,000 after acquiring an additional 360,497 shares during the last quarter. 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 period. Westfield Capital Management Co. LP boosted its position 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 last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Masimo by 916.1% in the fourth 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.

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.