Masimo (NASDAQ:MASI) Price Target Raised to $171.00

Masimo (NASDAQ:MASI) had its price target hoisted by Wells Fargo & Company from $160.00 to $171.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an overweight rating on the medical equipment provider’s stock.

Several other analysts also recently weighed in on MASI. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a research note on Wednesday. Raymond James upgraded shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price objective on the stock in a research report on Wednesday. Piper Sandler increased their price target on shares of Masimo from $165.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, BTIG Research increased their price target on shares of Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $163.67.

Masimo Stock Performance

Shares of Masimo stock traded up $1.06 during mid-day trading on Wednesday, hitting $162.41. 368,946 shares of the stock were exchanged, compared to its average volume of 659,362. Masimo has a 12 month low of $81.82 and a 12 month high of $173.90. The company has a 50-day simple moving average of $133.52 and a 200 day simple moving average of $126.08. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.15 and a current ratio of 2.01. The company has a market capitalization of $8.64 billion, a P/E ratio of 112.01 and a beta of 0.97.

Masimo (NASDAQ:MASI) last released its quarterly earnings data on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.14. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The business had revenue of $504.60 million during the quarter, compared to analyst estimates of $502.87 million. During the same period in the previous year, the business earned $0.63 EPS. Masimo’s revenue was up 5.4% compared to the same quarter last year. Sell-side analysts anticipate that Masimo will post 4.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Masimo

A number of large investors have recently added to or reduced their stakes in MASI. Mirae Asset Global Investments Co. Ltd. raised its position in shares of 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. Texas Permanent School Fund Corp raised its holdings in Masimo by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 38,847 shares of the medical equipment provider’s stock valued at $5,705,000 after acquiring an additional 547 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in Masimo in the first quarter valued at approximately $217,000. Qsemble Capital Management LP acquired a new stake in Masimo in the first quarter valued at approximately $245,000. Finally, State Board of Administration of Florida Retirement System raised its holdings in Masimo by 11.6% during the first 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 purchasing an additional 5,688 shares in the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.

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.