Masimo (NASDAQ:MASI) Stock Price Up 3.1%

Shares of Masimo Co. (NASDAQ:MASI) shot up 3.1% during mid-day trading on Tuesday . The company traded as high as $115.68 and last traded at $114.80. 186,773 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 645,020 shares. The stock had previously closed at $111.36.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Piper Sandler upped their target price on shares of Masimo from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Needham & Company LLC restated a “hold” rating on shares of Masimo in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $144.67.

Masimo Stock Up 3.3 %

The business has a 50-day moving average price of $114.51 and a 200-day moving average price of $125.90. The company has a market capitalization of $6.12 billion, a price-to-earnings ratio of 78.37 and a beta of 0.98. The company has a quick ratio of 1.15, a current ratio of 2.09 and a debt-to-equity ratio of 0.55.

Masimo (NASDAQ:MASI) last released its earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.09. Masimo had a return on equity of 14.07% and a net margin of 3.94%. The company had revenue of $496.30 million during the quarter, compared to analyst estimates of $493.92 million. During the same quarter in the prior year, the company earned $0.62 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, equities analysts anticipate that Masimo Co. will post 3.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Riverview Trust Co acquired a new stake in shares of Masimo in the 1st quarter valued at $25,000. GAMMA Investing LLC lifted its holdings in shares of Masimo by 75.0% during the second quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider’s stock worth $33,000 after buying an additional 111 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Masimo by 851.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 295 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 264 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings 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 valued at $44,000 after purchasing an additional 200 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of Masimo by 48.3% in the fourth quarter. Parallel Advisors LLC now owns 445 shares of the medical equipment provider’s stock valued at $52,000 after buying an additional 145 shares during the period. Institutional investors and hedge funds own 85.96% of the company’s stock.

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.