Masimo (NASDAQ:MASI) Price Target Raised to $194.00

Masimo (NASDAQ:MASI) had its price target increased by Raymond James from $170.00 to $194.00 in a research note published on Friday, MarketBeat.com reports. The brokerage currently has an outperform rating on the medical equipment provider’s stock.

Several other brokerages also recently weighed in on MASI. BTIG Research boosted their target price on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Wells Fargo & Company upped their price objective on shares of Masimo from $171.00 to $193.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Stifel Nicolaus restated a “buy” rating and set a $190.00 price target (up previously from $170.00) on shares of Masimo in a research note on Friday, November 22nd. Piper Sandler lifted their price objective on shares of Masimo from $180.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Masimo in a research report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Masimo presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.67.

Masimo Price Performance

MASI opened at $170.97 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. Masimo has a 12-month low of $101.61 and a 12-month high of $180.97. The business’s fifty day simple moving average is $162.96 and its 200-day simple moving average is $136.32. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of 117.91 and a beta of 1.01.

Masimo (NASDAQ:MASI) last released its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 EPS for the quarter, topping 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 in the previous year, the company posted $0.63 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts anticipate that Masimo will post 4.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Masimo

Large investors have recently made changes to their positions in the company. FMR LLC raised its position in shares of Masimo by 41.2% in the third quarter. FMR LLC now owns 6,756,618 shares of the medical equipment provider’s stock worth $900,860,000 after acquiring an additional 1,970,883 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Masimo by 42.1% during the second quarter. Thrivent Financial for Lutherans now owns 1,217,357 shares of the medical equipment provider’s stock valued at $153,314,000 after acquiring an additional 360,497 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in 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 valued at $85,347,000 after purchasing an additional 351,523 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in Masimo by 23.2% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,394,056 shares of the medical equipment provider’s stock valued at $185,869,000 after acquiring an additional 262,370 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Masimo by 45.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 525,594 shares of the medical equipment provider’s stock worth $66,201,000 after purchasing an additional 165,257 shares in the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.

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.