Piper Sandler Boosts Masimo (NASDAQ:MASI) Price Target to $165.00

Masimo (NASDAQ:MASI) had its price target raised by Piper Sandler from $160.00 to $165.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an overweight rating on the medical equipment provider’s stock.

A number of other equities analysts have also recently issued reports on MASI. Needham & Company LLC reissued a hold rating on shares of Masimo in a report on Tuesday, July 9th. Stifel Nicolaus upgraded Masimo from a hold rating to a buy rating and increased their price objective for the stock from $148.00 to $170.00 in a research note on Monday, April 15th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $144.29.

Masimo Stock Performance

Shares of MASI stock traded down $1.07 during mid-day trading on Wednesday, reaching $126.87. The stock had a trading volume of 659,366 shares, compared to its average volume of 677,744. The firm has a market cap of $6.75 billion, a PE ratio of 86.31 and a beta of 0.97. Masimo has a one year low of $75.22 and a one year high of $153.93. The firm’s 50 day simple moving average is $118.86 and its 200 day simple moving average is $127.82. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.62.

Masimo (NASDAQ:MASI) last announced its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.09. Masimo had a net margin of 4.01% and a return on equity of 13.26%. The company had revenue of $496.30 million during the quarter, compared to analysts’ expectations of $493.92 million. During the same quarter in the prior year, the company posted $0.62 EPS. The business’s revenue was up 9.0% on a year-over-year basis. On average, analysts forecast that Masimo will post 3.63 EPS for the current year.

Hedge Funds Weigh In On Masimo

Several large investors have recently made changes to their positions in MASI. Riverview Trust Co bought a new stake in Masimo during the 1st quarter worth about $25,000. Byrne Asset Management LLC acquired a new stake in Masimo during the 4th quarter worth $28,000. GAMMA Investing LLC raised its position in shares of Masimo by 75.0% during the 2nd quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider’s stock valued at $33,000 after acquiring an additional 111 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Masimo by 851.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 295 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 264 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Masimo in the 4th quarter worth $36,000. Institutional investors and hedge funds 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.