Masimo’s (MASI) “Hold” Rating Reiterated at Needham & Company LLC

Masimo (NASDAQ:MASI)‘s stock had its “hold” rating reaffirmed by research analysts at Needham & Company LLC in a report issued on Wednesday, Benzinga reports.

MASI has been the subject of a number of other reports. BTIG Research increased their target price on shares of Masimo from $145.00 to $166.00 and gave the company a “buy” rating in a report on Monday, March 25th. Wells Fargo & Company raised Masimo from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $117.00 to $160.00 in a report on Monday, March 25th. Piper Sandler upped their target price on Masimo from $70.00 to $117.00 and gave the company a “neutral” rating in a report on Monday, February 26th. StockNews.com raised Masimo from a “sell” rating to a “hold” rating in a research note on Friday, March 29th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $121.00 price objective (up from $107.00) on shares of Masimo in a research report on Tuesday, January 30th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $137.43.

Masimo Stock Performance

NASDAQ MASI opened at $136.00 on Wednesday. The company has a current ratio of 2.18, a quick ratio of 1.22 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average is $136.36 and its two-hundred day moving average is $119.58. The stock has a market capitalization of $7.20 billion, a price-to-earnings ratio of 90.07 and a beta of 0.99. Masimo has a 12-month low of $75.22 and a 12-month high of $188.14.

Masimo (NASDAQ:MASI) last released its quarterly earnings data on Tuesday, May 7th. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.06. Masimo had a return on equity of 13.77% and a net margin of 3.98%. The firm had revenue of $492.80 million during the quarter, compared to analysts’ expectations of $487.70 million. During the same quarter in the prior year, the business posted $0.87 earnings per share. Masimo’s revenue was down 12.8% compared to the same quarter last year. Research analysts expect that Masimo will post 3.51 EPS for the current year.

Insider Activity at Masimo

In other Masimo news, Director Craig B. Reynolds sold 40,000 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $136.17, for a total transaction of $5,446,800.00. Following the sale, the director now directly owns 7,406 shares of the company’s stock, valued at approximately $1,008,475.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Masimo by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 4,781,343 shares of the medical equipment provider’s stock valued at $560,421,000 after purchasing an additional 26,473 shares during the last quarter. Capital Research Global Investors grew its holdings in Masimo by 6.4% in the 4th quarter. Capital Research Global Investors now owns 2,269,189 shares of the medical equipment provider’s stock valued at $265,972,000 after buying an additional 136,617 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Masimo by 6.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,607,310 shares of the medical equipment provider’s stock valued at $188,393,000 after acquiring an additional 93,861 shares during the last quarter. Eminence Capital LP purchased a new position in shares of Masimo during the 3rd quarter worth about $90,859,000. Finally, Schroder Investment Management Group boosted its position in shares of Masimo by 59.6% in the fourth quarter. Schroder Investment Management Group now owns 877,539 shares of the medical equipment provider’s stock worth $102,856,000 after acquiring an additional 327,863 shares during the last quarter. Hedge funds and other institutional investors own 85.96% of the company’s stock.

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.