Masimo (NASDAQ:MASI) Stock Price Expected to Rise, Piper Sandler Analyst Says

Masimo (NASDAQ:MASI) had its target price increased by Piper Sandler from $165.00 to $180.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the medical equipment provider’s stock.

Several other equities analysts have also commented on MASI. Raymond James upgraded Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price target on the stock in a research note on Wednesday. BTIG Research increased their target price on shares of Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Needham & Company LLC restated a “hold” rating on shares of Masimo in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $163.67.

Masimo Trading Up 0.7 %

Shares of MASI opened at $162.41 on Wednesday. The firm has a market capitalization of $8.64 billion, a price-to-earnings ratio of 112.01 and a beta of 0.97. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.15. Masimo has a 1-year low of $81.82 and a 1-year high of $173.90. The company has a 50-day moving average of $133.52 and a 200 day moving average of $126.00.

Masimo (NASDAQ:MASI) last posted 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. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The firm had revenue of $504.60 million during the quarter, compared to the consensus estimate of $502.87 million. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. On average, research analysts expect that Masimo will post 4.04 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MASI. Edgestream Partners L.P. acquired a new stake in Masimo in the second quarter valued at approximately $645,000. Simplify Asset Management Inc. boosted its position in shares of Masimo by 120.4% in the 2nd quarter. Simplify Asset Management Inc. now owns 21,670 shares of the medical equipment provider’s stock worth $2,729,000 after purchasing an additional 11,838 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in Masimo by 11.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 54,839 shares of the medical equipment provider’s stock worth $8,053,000 after buying an additional 5,688 shares during the last quarter. Advisors Asset Management Inc. increased its position in Masimo by 32.1% during the 1st quarter. Advisors Asset Management Inc. now owns 9,009 shares of the medical equipment provider’s stock valued at $1,323,000 after buying an additional 2,187 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Masimo by 33.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,196 shares of the medical equipment provider’s stock valued at $6,196,000 after buying an additional 10,683 shares during the last quarter. 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.