Masimo (NASDAQ:MASI) Sets New 12-Month High – Here’s Why

Shares of Masimo Co. (NASDAQ:MASI) hit a new 52-week high on Thursday . The stock traded as high as $181.16 and last traded at $180.71, with a volume of 11511 shares traded. The stock had previously closed at $177.60.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MASI shares. Piper Sandler upped their price objective on Masimo from $180.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Raymond James raised their price objective on Masimo from $170.00 to $194.00 and gave the company an “outperform” rating in a research report on Friday, December 27th. Stifel Nicolaus reaffirmed a “buy” rating and set a $190.00 price objective (up previously from $170.00) on shares of Masimo in a research report on Friday, November 22nd. Wells Fargo & Company raised their price target on Masimo from $171.00 to $193.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Masimo in a report on Wednesday, January 22nd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $179.67.

Masimo Stock Performance

The firm has a 50-day moving average of $171.00 and a two-hundred day moving average of $143.75. The company has a quick ratio of 1.11, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $9.72 billion, a PE ratio of 125.18 and a beta of 1.01.

Masimo (NASDAQ:MASI) last announced 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 company 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%. Masimo’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the business earned $0.63 earnings per share. Research analysts anticipate that Masimo Co. will post 4.1 EPS for the current year.

Institutional Trading of Masimo

A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC increased its position in shares of 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 in the last quarter. State Street Corp boosted its stake in shares of Masimo by 0.7% in the third quarter. State Street Corp now owns 1,438,814 shares of the medical equipment provider’s stock worth $191,837,000 after acquiring an additional 10,179 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Masimo by 23.2% in the third quarter. Westfield Capital Management Co. LP now owns 1,394,056 shares of the medical equipment provider’s stock worth $185,869,000 after acquiring an additional 262,370 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Masimo by 1.5% in the third quarter. Geode Capital Management LLC now owns 792,886 shares of the medical equipment provider’s stock worth $105,741,000 after acquiring an additional 11,984 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Masimo by 9.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 792,166 shares of the medical equipment provider’s stock worth $105,619,000 after acquiring an additional 70,440 shares during the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

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.