Masimo (NASDAQ:MASI) Reaches New 12-Month High – What’s Next?

Masimo Co. (NASDAQ:MASI)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $174.26 and last traded at $173.91, with a volume of 338885 shares. The stock had previously closed at $169.12.

Analysts Set New Price Targets

MASI has been the subject of several analyst reports. Wells Fargo & Company raised their target price on shares of Masimo from $160.00 to $171.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Raymond James upgraded shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price objective for the company in a report on Wednesday, November 6th. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a report on Wednesday, November 6th. BTIG Research lifted 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. Finally, Piper Sandler lifted their price objective on shares of Masimo from $165.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $167.00.

Masimo Stock Up 2.3 %

The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The firm has a market cap of $9.26 billion, a PE ratio of 119.28 and a beta of 0.97. The business’s 50-day simple moving average is $143.48 and its 200 day simple moving average is $128.00.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MASI. FMR LLC increased its position in Masimo by 41.2% during the 3rd quarter. FMR LLC now owns 6,756,618 shares of the medical equipment provider’s stock valued at $900,860,000 after purchasing an additional 1,970,883 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Masimo by 42.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,217,357 shares of the medical equipment provider’s stock worth $153,314,000 after buying an additional 360,497 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Masimo by 107.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 677,677 shares of the medical equipment provider’s stock worth $85,347,000 after buying an additional 351,523 shares during the last quarter. Westfield Capital Management Co. LP grew its position in shares of Masimo by 23.2% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,394,056 shares of the medical equipment provider’s stock worth $185,869,000 after buying an additional 262,370 shares during the last quarter. Finally, Farallon Capital Management LLC grew its position in shares of Masimo by 13.6% in the 1st quarter. Farallon Capital Management LLC now owns 1,489,563 shares of the medical equipment provider’s stock worth $218,742,000 after buying an additional 177,914 shares during the last quarter. Hedge funds and other institutional investors 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.