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

Masimo (NASDAQ:MASI) had its target price boosted by equities researchers at Wells Fargo & Company from $160.00 to $171.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the medical equipment provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 7.04% from the stock’s current price.

Other research analysts have also issued reports about the company. Piper Sandler raised their price target on Masimo from $165.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday. BTIG Research raised their target price on shares of Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Raymond James raised shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price target for the company in a research note on Wednesday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a research note on Wednesday. Three 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 has an average rating of “Moderate Buy” and an average target price of $152.57.

Masimo Stock Performance

Masimo stock traded up $8.20 during midday trading on Wednesday, reaching $159.76. 534,905 shares of the stock traded hands, compared to its average volume of 675,120. Masimo has a fifty-two week low of $75.36 and a fifty-two week high of $173.90. The company has a current ratio of 2.09, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. The firm has a market cap of $8.50 billion, a price-to-earnings ratio of 105.86 and a beta of 0.97. The firm has a fifty day moving average price of $130.72 and a two-hundred day moving average price of $125.34.

Masimo (NASDAQ:MASI) last issued its quarterly earnings data on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.14. Masimo had a return on equity of 14.07% and a net margin of 3.94%. The business had revenue of $504.60 million during the quarter, compared to the consensus estimate of $502.87 million. During the same period in the previous year, the firm posted $0.63 earnings per share. The business’s revenue was up 5.4% on a year-over-year basis. On average, equities research analysts forecast that Masimo will post 3.88 earnings per share for the current year.

Institutional Trading of Masimo

A number of hedge funds and other institutional investors have recently made changes to their positions in MASI. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 in the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of Masimo by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 38,847 shares of the medical equipment provider’s stock worth $5,705,000 after acquiring an additional 547 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Masimo during the first quarter worth $217,000. Qsemble Capital Management LP purchased a new stake in shares of Masimo during the first quarter valued at $245,000. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Masimo by 11.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 54,839 shares of the medical equipment provider’s stock valued at $8,053,000 after purchasing an additional 5,688 shares during the period. 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.