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

Needham & Company LLC reaffirmed their hold rating on shares of Masimo (NASDAQ:MASI) in a research report report published on Friday, Benzinga reports.

Separately, Piper Sandler boosted their target price on shares of Masimo from $160.00 to $165.00 and gave the stock an overweight rating in a report on Wednesday, August 7th. 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, Masimo presently has an average rating of Moderate Buy and a consensus price target of $144.67.

Masimo Trading Up 8.7 %

MASI opened at $121.42 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $6.46 billion, a PE ratio of 82.60 and a beta of 0.98. Masimo has a 1-year low of $75.22 and a 1-year high of $153.93. The firm has a 50-day moving average price of $115.01 and a two-hundred day moving average price of $124.98.

Masimo (NASDAQ:MASI) last released its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.09. Masimo had a net margin of 3.94% and a return on equity of 14.07%. The business had revenue of $496.30 million for the quarter, compared to analyst estimates of $493.92 million. During the same quarter last year, the firm earned $0.62 EPS. Masimo’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, equities analysts anticipate that Masimo will post 3.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Masimo

Several large investors have recently added to or reduced their stakes in the company. Riverview Trust Co bought a new stake in shares of Masimo during the 1st quarter valued at about $25,000. GAMMA Investing LLC increased its stake in shares of Masimo by 75.0% during the second quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider’s stock valued at $33,000 after buying an additional 111 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Masimo by 851.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 295 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 264 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Masimo by 133.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 350 shares of the medical equipment provider’s stock worth $44,000 after purchasing an additional 200 shares during the period. Finally, Parallel Advisors LLC grew its stake in Masimo by 48.3% in the fourth quarter. Parallel Advisors LLC now owns 445 shares of the medical equipment provider’s stock worth $52,000 after purchasing an additional 145 shares during the period. 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.