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

Needham & Company LLC reaffirmed their hold rating on shares of Masimo (NASDAQ:MASI) in a research report sent to investors on Wednesday, Benzinga reports.

MASI has been the subject of a number of other research reports. BTIG Research boosted their price objective on shares of Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a report on Monday, October 14th. Piper Sandler reissued an “overweight” rating on shares of Masimo in a research note on Friday, October 18th. Finally, Raymond James raised Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price target for the company in a report on Wednesday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $152.57.

Masimo Stock Up 0.2 %

MASI stock traded up $0.28 during mid-day trading on Wednesday, reaching $167.91. The company had a trading volume of 41,056 shares, compared to its average volume of 679,530. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of 114.03 and a beta of 0.97. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.09 and a quick ratio of 1.15. Masimo has a 52 week low of $75.36 and a 52 week high of $173.90. The stock has a 50 day simple moving average of $131.74 and a two-hundred day simple moving average of $125.64.

Masimo (NASDAQ:MASI) last released its quarterly earnings data on Tuesday, November 5th. The medical equipment provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.14. The firm had revenue of $504.60 million during the quarter, compared to analysts’ expectations of $502.87 million. Masimo had a net margin of 3.94% and a return on equity of 14.07%. 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 posted $0.63 earnings per share. As a group, equities analysts predict that Masimo will post 3.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Masimo

Several hedge funds and other institutional investors have recently modified their holdings of the company. Empowered Funds LLC acquired a new stake in Masimo in the 3rd quarter valued at $279,000. CIBC Asset Management Inc bought a new position in shares of Masimo in the third quarter valued at $206,000. ING Groep NV grew its holdings in shares of Masimo by 143.3% during the third quarter. ING Groep NV now owns 240,900 shares of the medical equipment provider’s stock valued at $32,119,000 after buying an additional 141,900 shares during the last quarter. KBC Group NV increased its position in shares of Masimo by 17.3% during the third quarter. KBC Group NV now owns 1,280 shares of the medical equipment provider’s stock worth $171,000 after acquiring an additional 189 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Masimo during the third quarter worth about $478,000. 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.