Wall Street Zen Downgrades Masimo (NASDAQ:MASI) to Hold

Masimo (NASDAQ:MASI) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

A number of other research analysts have also weighed in on the company. Zacks Research raised Masimo from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. Weiss Ratings restated a “sell (d)” rating on shares of Masimo in a research report on Saturday, September 27th. BTIG Research restated a “buy” rating and issued a $198.00 price objective on shares of Masimo in a research report on Thursday, September 11th. Finally, Piper Sandler upped their price objective on shares of Masimo from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $194.60.

Masimo Trading Up 1.4%

NASDAQ MASI opened at $150.25 on Monday. The stock has a market capitalization of $8.16 billion, a price-to-earnings ratio of -17.63 and a beta of 1.28. Masimo has a one year low of $133.70 and a one year high of $194.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.14 and a quick ratio of 1.61. The business’s fifty day moving average is $146.32 and its 200-day moving average is $155.63.

Masimo (NASDAQ:MASI) last released its earnings results on Tuesday, August 5th. The medical equipment provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.11. The company had revenue of $370.90 million for the quarter, compared to analysts’ expectations of $368.65 million. Masimo had a positive return on equity of 26.54% and a negative net margin of 24.85%.The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 EPS. Equities research analysts predict that Masimo will post 4.1 EPS for the current year.

Insider Transactions at Masimo

In related news, Director William R. Jellison acquired 3,000 shares of the company’s stock in a transaction dated Monday, August 11th. The stock was purchased at an average price of $145.98 per share, with a total value of $437,940.00. Following the completion of the purchase, the director owned 4,790 shares in the company, valued at $699,244.20. This trade represents a 167.60% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Masimo

A number of institutional investors have recently made changes to their positions in the stock. Durable Capital Partners LP purchased a new position in Masimo during the first quarter valued at $187,528,000. Viking Global Investors LP bought a new stake in Masimo in the 2nd quarter worth about $129,096,000. Westfield Capital Management Co. LP increased its holdings in Masimo by 75.9% in the 2nd quarter. Westfield Capital Management Co. LP now owns 1,181,203 shares of the medical equipment provider’s stock worth $198,702,000 after buying an additional 509,724 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Masimo by 25.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,470,393 shares of the medical equipment provider’s stock valued at $415,570,000 after purchasing an additional 502,555 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC bought a new stake in shares of Masimo during the 2nd quarter valued at about $40,468,000. Hedge funds and other 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.