Masimo (NASDAQ:MASI) Sets New 52-Week High Following Analyst Upgrade

Masimo Co. (NASDAQ:MASI) shares hit a new 52-week high during mid-day trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $171.00 to $193.00. Wells Fargo & Company currently has an overweight rating on the stock. Masimo traded as high as $178.84 and last traded at $178.84, with a volume of 28200 shares. The stock had previously closed at $174.65.

Several other equities analysts have also weighed in on MASI. Raymond James upgraded shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 target price on the stock in a report on Wednesday, November 6th. Stifel Nicolaus reiterated a “buy” rating and issued a $190.00 price objective (up from $170.00) on shares of Masimo in a research report on Friday, November 22nd. BTIG Research raised their target price on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a report on Wednesday, November 6th. Finally, Piper Sandler raised their price objective on Masimo from $165.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $170.67.

Hedge Funds Weigh In On Masimo

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC lifted its position in shares of Masimo by 41.2% during the third quarter. FMR LLC now owns 6,756,618 shares of the medical equipment provider’s stock worth $900,860,000 after purchasing an additional 1,970,883 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Masimo by 42.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,217,357 shares of the medical equipment provider’s stock worth $153,314,000 after buying an additional 360,497 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Masimo by 107.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 677,677 shares of the medical equipment provider’s stock valued at $85,347,000 after buying an additional 351,523 shares during the period. Westfield Capital Management Co. LP grew its stake in shares of Masimo by 23.2% in the third quarter. Westfield Capital Management Co. LP now owns 1,394,056 shares of the medical equipment provider’s stock worth $185,869,000 after acquiring an additional 262,370 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Masimo by 45.9% during the second quarter. Dimensional Fund Advisors LP now owns 525,594 shares of the medical equipment provider’s stock worth $66,201,000 after acquiring an additional 165,257 shares during the period. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Masimo Stock Performance

The firm has a market capitalization of $9.39 billion, a price-to-earnings ratio of 121.86 and a beta of 1.01. The firm has a 50 day moving average price of $154.88 and a 200-day moving average price of $132.21. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11.

Masimo (NASDAQ:MASI) last announced its quarterly earnings data on Tuesday, November 5th. The medical equipment provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.14. The company had revenue of $504.60 million for the quarter, compared to the consensus estimate of $502.87 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 EPS. As a group, sell-side analysts expect that Masimo Co. will post 4.03 earnings per share for the current fiscal 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.