Masimo (NASDAQ:MASI) Hits New 1-Year High – Here’s Why

Shares of Masimo Co. (NASDAQ:MASI) hit a new 52-week high on Friday . The stock traded as high as $174.26 and last traded at $173.91, with a volume of 338885 shares traded. The stock had previously closed at $169.12.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $190.00 target price (up from $170.00) on shares of Masimo in a research report on Friday. Wells Fargo & Company boosted their target price on Masimo from $160.00 to $171.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Raymond James upgraded Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 target price for the company in a report on Wednesday, November 6th. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a report on Wednesday, November 6th. Finally, BTIG Research boosted their target price on shares of Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a report on Monday, October 14th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Masimo currently has a consensus rating of “Moderate Buy” and an average price target of $167.00.

Masimo Stock Up 2.3 %

The business’s 50 day moving average is $142.28 and its 200-day moving average is $127.76. The company has a market cap of $9.26 billion, a PE ratio of 117.80 and a beta of 0.97. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11.

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

Institutional Trading of Masimo

A number of institutional investors have recently added to or reduced their stakes in MASI. Geode Capital Management LLC increased its position in Masimo by 1.5% during the third quarter. Geode Capital Management LLC now owns 792,886 shares of the medical equipment provider’s stock worth $105,741,000 after buying an additional 11,984 shares in the last quarter. Barclays PLC boosted its stake in Masimo by 152.6% in the 3rd quarter. Barclays PLC now owns 39,957 shares of the medical equipment provider’s stock worth $5,329,000 after buying an additional 24,137 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Masimo in the 3rd quarter valued at about $519,000. MML Investors Services LLC increased its stake in shares of Masimo by 4.9% during the 3rd quarter. MML Investors Services LLC now owns 2,056 shares of the medical equipment provider’s stock valued at $274,000 after acquiring an additional 96 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Masimo in the third quarter worth approximately $2,288,000. 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.