Piper Sandler Forecasts Strong Price Appreciation for Masimo (NASDAQ:MASI) Stock

Masimo (NASDAQ:MASI) had its target price lifted by investment analysts at Piper Sandler from $180.00 to $210.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical equipment provider’s stock. Piper Sandler’s target price would indicate a potential upside of 20.15% from the company’s previous close.

MASI has been the topic of a number of other reports. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a research report on Wednesday, November 6th. Wells Fargo & Company upped their target price on shares of Masimo from $171.00 to $193.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. BTIG Research lifted their price target on shares of Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a report on Monday, October 14th. Stifel Nicolaus reaffirmed a “buy” rating and set a $190.00 price objective (up from $170.00) on shares of Masimo in a research note on Friday, November 22nd. Finally, Raymond James upgraded shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 target price for the company in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $175.67.

Masimo Stock Performance

Shares of MASI traded up $0.71 during trading hours on Wednesday, reaching $174.78. 204,001 shares of the company traded hands, compared to its average volume of 662,268. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01. The stock’s fifty day moving average is $158.77 and its 200 day moving average is $133.93. Masimo has a 1-year low of $101.61 and a 1-year high of $180.97. The stock has a market cap of $9.36 billion, a P/E ratio of 120.32 and a beta of 1.01.

Masimo (NASDAQ:MASI) last released its quarterly earnings data on Tuesday, November 5th. The medical equipment provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.14. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The company had revenue of $504.60 million during the quarter, compared to the consensus estimate of $502.87 million. During the same period last year, the firm earned $0.63 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts anticipate that Masimo will post 4.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MASI. FMR LLC lifted its stake in Masimo by 41.2% in the third quarter. FMR LLC now owns 6,756,618 shares of the medical equipment provider’s stock valued at $900,860,000 after buying an additional 1,970,883 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Masimo by 42.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,217,357 shares of the medical equipment provider’s stock valued at $153,314,000 after acquiring an additional 360,497 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of 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 acquiring an additional 351,523 shares during the period. Westfield Capital Management Co. LP boosted its stake in Masimo by 23.2% during the 3rd 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 during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Masimo by 45.9% during the second quarter. Dimensional Fund Advisors LP now owns 525,594 shares of the medical equipment provider’s stock valued at $66,201,000 after purchasing an additional 165,257 shares during the period. Institutional investors and hedge funds own 85.96% of the company’s stock.

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.