Masimo Co. (NASDAQ:MASI) Receives $163.67 Average Target Price from Brokerages

Shares of Masimo Co. (NASDAQ:MASI) have received an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $163.67.

A number of equities research analysts recently issued reports on MASI shares. Raymond James upgraded Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price objective on the stock in a research note on Wednesday, November 6th. Wells Fargo & Company boosted their price objective on Masimo from $160.00 to $171.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. BTIG Research boosted their price objective on Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Piper Sandler boosted their price objective on Masimo from $165.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a research report on Wednesday, November 6th.

Masimo Trading Down 0.9 %

Shares of Masimo stock opened at $160.15 on Tuesday. Masimo has a 1 year low of $89.18 and a 1 year high of $173.90. The firm has a market cap of $8.57 billion, a PE ratio of 110.38 and a beta of 0.97. The stock has a fifty day moving average price of $136.27 and a 200-day moving average price of $126.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Edgestream Partners L.P. bought a new position in shares of Masimo in the second quarter worth approximately $645,000. Simplify Asset Management Inc. increased its position in shares of Masimo by 120.4% in the second 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 during the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Masimo by 11.6% in 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 during the last quarter. Advisors Asset Management Inc. increased its position in shares of Masimo by 32.1% in the first quarter. Advisors Asset Management Inc. now owns 9,009 shares of the medical equipment provider’s stock worth $1,323,000 after purchasing an additional 2,187 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of Masimo by 42.1% in the second quarter. Thrivent Financial for Lutherans now owns 1,217,357 shares of the medical equipment provider’s stock worth $153,314,000 after purchasing an additional 360,497 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors.

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.