Masimo (NASDAQ:MASI) Shares Down 1.8%

Shares of Masimo Co. (NASDAQ:MASI) were down 1.8% on Tuesday . The stock traded as low as $136.77 and last traded at $136.98. Approximately 37,721 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 607,544 shares. The stock had previously closed at $139.43.

Analyst Upgrades and Downgrades

MASI has been the subject of several recent research reports. Jefferies Financial Group reissued a “hold” rating and set a $121.00 price objective (up previously from $107.00) on shares of Masimo in a research report on Tuesday, January 30th. StockNews.com lowered shares of Masimo from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. Needham & Company LLC downgraded shares of Masimo from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Wells Fargo & Company raised Masimo from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $117.00 to $160.00 in a research report on Monday. Finally, BTIG Research upped their price target on Masimo from $145.00 to $166.00 and gave the stock a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Masimo presently has an average rating of “Hold” and an average target price of $134.29.

Masimo Trading Up 2.7 %

The firm has a market cap of $7.64 billion, a P/E ratio of 95.68 and a beta of 0.95. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.22 and a current ratio of 2.18. The stock has a fifty day simple moving average of $131.76 and a 200 day simple moving average of $109.26.

Masimo (NASDAQ:MASI) last released its quarterly earnings data on Tuesday, February 27th. The medical equipment provider reported $1.25 EPS for the quarter, topping the consensus estimate of $0.82 by $0.43. The company had revenue of $548.90 million during the quarter, compared to the consensus estimate of $545.69 million. Masimo had a return on equity of 13.77% and a net margin of 3.98%. Masimo’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same period last year, the company earned $1.32 EPS. On average, research analysts expect that Masimo Co. will post 3.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Masimo

Large investors have recently added to or reduced their stakes in the stock. Eminence Capital LP bought a new stake in shares of Masimo in the third quarter worth $90,859,000. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Masimo by 93.8% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 16,541 shares of the medical equipment provider’s stock worth $1,450,000 after buying an additional 8,004 shares during the last quarter. Comerica Bank bought a new stake in Masimo during the third quarter valued at approximately $8,454,000. BlackRock Inc. increased its holdings in Masimo by 3.0% during the second quarter. BlackRock Inc. now owns 6,120,123 shares of the medical equipment provider’s stock valued at $1,007,066,000 after buying an additional 178,267 shares during the last quarter. Finally, Sei Investments Co. raised its position in Masimo by 224.5% in the third quarter. Sei Investments Co. now owns 183,940 shares of the medical equipment provider’s stock worth $16,128,000 after acquiring an additional 127,249 shares during the period. 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.