Masimo Co. (NASDAQ:MASI) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Masimo Co. (NASDAQ:MASI - Get Free Report) has received an average recommendation of "Moderate Buy" from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $163.67.

Several equities analysts recently weighed in on MASI shares. Piper Sandler raised their price objective on Masimo from $165.00 to $180.00 and gave the company an "overweight" rating in a research note on Wednesday, November 6th. Wells Fargo & Company boosted their price objective on shares of Masimo from $160.00 to $171.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 6th. BTIG Research increased their target price on Masimo from $166.00 to $170.00 and gave the company a "buy" rating in a report on Monday, October 14th. Raymond James raised shares of Masimo from a "market perform" rating to an "outperform" rating and set a $170.00 price objective for the company in a research report on Wednesday, November 6th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Masimo in a research note on Wednesday, November 6th.

Hedge Funds Weigh In On Masimo

Several hedge funds and other institutional investors have recently modified their holdings of MASI. 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 valued at $185,869,000 after buying an additional 262,370 shares in the last quarter. Algert Global LLC grew its position in Masimo by 37.9% in the third quarter. Algert Global LLC now owns 19,139 shares of the medical equipment provider's stock valued at $2,552,000 after acquiring an additional 5,260 shares in the last quarter. Raymond James Trust N.A. increased its stake in Masimo by 37.4% during the 3rd quarter. Raymond James Trust N.A. now owns 8,814 shares of the medical equipment provider's stock worth $1,175,000 after buying an additional 2,400 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Masimo by 9.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 792,166 shares of the medical equipment provider's stock worth $105,619,000 after acquiring an additional 70,440 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of Masimo by 3.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 14,216 shares of the medical equipment provider's stock valued at $1,895,000 after buying an additional 501 shares during the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.

Masimo Stock Performance

Shares of MASI stock traded down $0.78 during midday trading on Tuesday, hitting $160.85. The company had a trading volume of 478,509 shares, compared to its average volume of 680,489. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.15. The stock has a market cap of $8.61 billion, a price-to-earnings ratio of 110.69 and a beta of 0.97. The company's 50 day simple moving average is $134.41 and its 200 day simple moving average is $126.12. Masimo has a 52-week low of $86.94 and a 52-week high of $173.90.

Masimo (NASDAQ:MASI - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.14. The business had revenue of $504.60 million for the quarter, compared to analyst estimates of $502.87 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The business's revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.63 earnings per share. Research analysts anticipate that Masimo will post 4.04 earnings per share for the current fiscal year.

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.