Masimo’s (MASI) Buy Rating Reaffirmed at Stifel Nicolaus

Masimo (NASDAQ:MASI)‘s stock had its “buy” rating reissued by analysts at Stifel Nicolaus in a research report issued on Friday,Benzinga reports. They presently have a $190.00 target price on the medical equipment provider’s stock, up from their prior target price of $170.00. Stifel Nicolaus’ price objective points to a potential upside of 11.23% from the stock’s previous close.

Several other brokerages have also recently issued reports on MASI. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a research note on Wednesday, November 6th. Piper Sandler increased their price objective on Masimo from $165.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Raymond James raised shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price target on the stock in a research note on Wednesday, November 6th. Wells Fargo & Company raised their price objective on shares of Masimo from $160.00 to $171.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Finally, BTIG Research boosted their price target on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $167.00.

Masimo Price Performance

Shares of Masimo stock traded up $1.69 on Friday, hitting $170.81. 128,215 shares of the company were exchanged, compared to its average volume of 673,888. The stock has a market capitalization of $9.15 billion, a price-to-earnings ratio of 118.05 and a beta of 0.97. The company has a quick ratio of 1.11, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average price of $142.28 and a 200 day moving average price of $127.76. Masimo has a 1-year low of $91.60 and a 1-year high of $173.90.

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. The business had revenue of $504.60 million during the quarter, compared to analyst estimates of $502.87 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the business posted $0.63 earnings per share. As a group, sell-side analysts predict that Masimo will post 4.04 earnings per share for the current fiscal year.

Institutional Trading of Masimo

A number of institutional investors and hedge funds have recently made changes to their positions in MASI. Edgestream Partners L.P. acquired a new position in shares of Masimo during the second quarter worth about $645,000. Simplify Asset Management Inc. lifted its stake in Masimo by 120.4% during the second quarter. Simplify Asset Management Inc. now owns 21,670 shares of the medical equipment provider’s stock worth $2,729,000 after purchasing an additional 11,838 shares during the last quarter. ING Groep NV lifted its position in shares of Masimo by 143.3% in the 3rd quarter. ING Groep NV now owns 240,900 shares of the medical equipment provider’s stock worth $32,119,000 after buying an additional 141,900 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Masimo by 32.1% during the 1st quarter. Advisors Asset Management Inc. now owns 9,009 shares of the medical equipment provider’s stock valued at $1,323,000 after buying an additional 2,187 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in Masimo by 42.1% in 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 period. 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.