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

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

A number of other equities research analysts have also recently commented on the company. BTIG Research increased their price target on Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Raymond James upgraded Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 target price on the stock in a research report on Wednesday. Finally, Piper Sandler reissued an “overweight” rating on shares of Masimo in a research note on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Masimo currently has a consensus rating of “Moderate Buy” and an average price target of $148.86.

Masimo Stock Performance

Shares of NASDAQ MASI opened at $151.56 on Wednesday. The company has a market cap of $8.06 billion, a P/E ratio of 103.10 and a beta of 0.97. The firm’s fifty day moving average is $130.72 and its two-hundred day moving average is $125.34. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 2.09. Masimo has a 52-week low of $75.36 and a 52-week high of $153.93.

Masimo (NASDAQ:MASI) last released its earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.09. Masimo had a return on equity of 14.07% and a net margin of 3.94%. The firm had revenue of $496.30 million for the quarter, compared to analysts’ expectations of $493.92 million. During the same quarter in the prior year, the firm posted $0.62 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, analysts anticipate that Masimo will post 3.88 EPS for the current fiscal year.

Institutional Trading of Masimo

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. NBC Securities Inc. grew its stake in shares of Masimo by 47.1% during the 3rd quarter. NBC Securities Inc. now owns 228 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 73 shares during the period. GAMMA Investing LLC grew its position in shares of Masimo by 75.0% in the second quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider’s stock valued at $33,000 after purchasing an additional 111 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Masimo by 133.3% during 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 last quarter. Lazard Asset Management LLC lifted its position in Masimo by 5,730.0% during the first quarter. Lazard Asset Management LLC now owns 583 shares of the medical equipment provider’s stock valued at $85,000 after buying an additional 573 shares in the last quarter. Finally, HHM Wealth Advisors LLC raised its holdings in shares of Masimo by 25.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider’s stock valued at $79,000 after buying an additional 125 shares during the period. Institutional investors and hedge funds 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.