Masimo’s (MASI) Hold Rating Reaffirmed at Needham & Company LLC

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

Separately, Piper Sandler raised their target price on shares of Masimo from $160.00 to $165.00 and gave the stock an overweight rating in a research report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $144.67.

Masimo Price Performance

MASI stock opened at $125.00 on Friday. The stock has a market capitalization of $6.65 billion, a price-to-earnings ratio of 85.03 and a beta of 0.98. The firm’s 50-day moving average price is $115.33 and its two-hundred day moving average price is $124.91. The company has a current ratio of 2.09, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. Masimo has a 12-month low of $75.22 and a 12-month high of $153.93.

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 return on equity of 14.07% and a net margin of 3.94%. The business had revenue of $496.30 million during the quarter, compared to analysts’ expectations of $493.92 million. During the same quarter last year, the business posted $0.62 EPS. The business’s revenue was up 9.0% on a year-over-year basis. As a group, equities analysts predict that Masimo will post 3.87 earnings per share for the current year.

Institutional Trading of Masimo

A number of hedge funds have recently modified their holdings of MASI. Riverview Trust Co bought a new stake in Masimo during the first quarter worth about $25,000. GAMMA Investing LLC increased its position in Masimo by 75.0% during the 2nd 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 in the last quarter. EverSource Wealth Advisors LLC raised 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 valued at $35,000 after buying an additional 264 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings 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 acquiring an additional 200 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of Masimo by 48.3% during the fourth quarter. Parallel Advisors LLC now owns 445 shares of the medical equipment provider’s stock valued at $52,000 after acquiring an additional 145 shares in the last quarter. 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.