Masimo Co. (NASDAQ:MASI) Receives $191.60 Consensus Target Price from Analysts

Masimo Co. (NASDAQ:MASI) has earned a consensus rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $191.60.

Several research analysts have commented on the stock. Raymond James cut their price target on shares of Masimo from $204.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. BTIG Research set a $193.00 price target on shares of Masimo and gave the company a “buy” rating in a report on Wednesday, May 7th. Wall Street Zen downgraded shares of Masimo from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Piper Sandler reissued an “overweight” rating and issued a $200.00 price target (down from $215.00) on shares of Masimo in a report on Wednesday, May 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Masimo in a report on Thursday, April 10th.

Insider Buying and Selling

In related news, COO Bilal Muhsin sold 10,000 shares of Masimo stock in a transaction on Monday, May 12th. The shares were sold at an average price of $163.28, for a total value of $1,632,800.00. Following the transaction, the chief operating officer now owns 24,172 shares in the company, valued at $3,946,804.16. This trade represents a 29.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Craig B. Reynolds sold 2,053 shares of Masimo stock in a transaction on Friday, March 14th. The stock was sold at an average price of $166.13, for a total transaction of $341,064.89. Following the completion of the transaction, the director now owns 16,581 shares in the company, valued at approximately $2,754,601.53. The trade was a 11.02% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,053 shares of company stock worth $6,998,565. Corporate insiders own 9.70% of the company’s stock.

Hedge Funds Weigh In On Masimo

Hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its position in shares of Masimo by 17.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 31,107 shares of the medical equipment provider’s stock valued at $5,142,000 after acquiring an additional 4,579 shares during the period. Lecap Asset Management Ltd. purchased a new position in shares of Masimo in the fourth quarter valued at about $1,607,000. Trust Point Inc. purchased a new position in shares of Masimo in the fourth quarter valued at about $230,000. Barclays PLC increased its position in shares of Masimo by 152.6% in the third quarter. Barclays PLC now owns 39,957 shares of the medical equipment provider’s stock valued at $5,329,000 after acquiring an additional 24,137 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Masimo by 1,936.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 48,764 shares of the medical equipment provider’s stock valued at $8,220,000 after acquiring an additional 46,370 shares during the period. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Masimo Price Performance

Shares of NASDAQ MASI opened at $162.96 on Friday. The stock has a market cap of $8.84 billion, a PE ratio of 112.39 and a beta of 1.23. Masimo has a fifty-two week low of $101.61 and a fifty-two week high of $194.88. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01. The stock has a fifty day moving average of $157.00 and a 200-day moving average of $167.21.

Masimo (NASDAQ:MASI) last posted its earnings results on Tuesday, May 6th. The medical equipment provider reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.12. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The business had revenue of $372.00 million for the quarter, compared to analyst estimates of $367.79 million. During the same quarter in the prior year, the firm posted $0.77 EPS. Masimo’s revenue was down 24.5% on a year-over-year basis. Equities research analysts anticipate that Masimo will post 4.1 earnings per share for the current year.

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.