Needham & Company LLC Reiterates “Hold” Rating for Masimo (NASDAQ:MASI)

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

A number of other analysts also recently issued reports on MASI. BTIG Research raised their target price on Masimo from $145.00 to $166.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. StockNews.com raised Masimo from a “sell” rating to a “hold” rating in a research report on Friday, March 29th. Stifel Nicolaus raised Masimo from a “hold” rating to a “buy” rating and raised their target price for the stock from $148.00 to $170.00 in a research report on Monday, April 15th. Wells Fargo & Company upgraded Masimo from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $117.00 to $160.00 in a research report on Monday, March 25th. Finally, Piper Sandler upgraded Masimo from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $126.00 to $160.00 in a research report on Monday, June 3rd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $143.57.

Masimo Stock Performance

Shares of Masimo stock opened at $107.00 on Tuesday. The business’s fifty day simple moving average is $125.44 and its 200 day simple moving average is $128.96. The firm has a market capitalization of $5.69 billion, a P/E ratio of 72.79 and a beta of 0.97. Masimo has a 12 month low of $75.22 and a 12 month high of $161.20. The company has a current ratio of 2.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.62.

Masimo (NASDAQ:MASI) last issued its quarterly earnings results on Tuesday, May 7th. The medical equipment provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The business had revenue of $492.80 million for the quarter, compared to analyst estimates of $487.70 million. Masimo had a return on equity of 13.26% and a net margin of 4.01%. Masimo’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period last year, the company posted $0.87 earnings per share. As a group, analysts anticipate that Masimo will post 3.63 EPS for the current year.

Insider Buying and Selling

In related news, Director Craig B. Reynolds sold 40,000 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $136.17, for a total transaction of $5,446,800.00. Following the completion of the transaction, the director now directly owns 7,406 shares in the company, valued at $1,008,475.02. The transaction was disclosed in a document filed with the SEC, which is available through this link. 9.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Masimo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MASI. Riverview Trust Co purchased a new position in Masimo during the first quarter worth about $25,000. Massmutual Trust Co. FSB ADV lifted its stake in Masimo by 140.6% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 243 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 142 shares during the last quarter. Byrne Asset Management LLC bought a new stake in Masimo during the fourth quarter worth about $28,000. GAMMA Investing LLC lifted its stake in Masimo by 75.0% during the second quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider’s stock worth $33,000 after purchasing an additional 111 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Masimo by 851.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 295 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 264 shares during the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

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.