Needham & Company LLC Reaffirms Hold Rating for Masimo (NASDAQ:MASI)

Masimo (NASDAQ:MASI - Get Free Report)'s stock had its "hold" rating restated by analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports.

MASI has been the subject of several other research reports. BTIG Research boosted 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 increased their price objective on Masimo from $170.00 to $194.00 and gave the stock an "outperform" rating in a research note on Friday, December 27th. Piper Sandler increased their target price on Masimo from $180.00 to $210.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Stifel Nicolaus restated a "buy" rating and set a $190.00 target price (up previously from $170.00) on shares of Masimo in a report on Friday, November 22nd. Finally, Wells Fargo & Company raised their price target on Masimo from $171.00 to $193.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $179.67.

Masimo Price Performance

NASDAQ:MASI traded down $2.91 during mid-day trading on Wednesday, reaching $173.16. 550,089 shares of the stock were exchanged, compared to its average volume of 533,591. The business has a fifty day moving average price of $169.75 and a 200 day moving average price of $141.35. The firm has a market capitalization of $9.27 billion, a PE ratio of 119.42 and a beta of 1.01. Masimo has a 1-year low of $101.61 and a 1-year high of $180.97. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50.

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 for the quarter, topping analysts' consensus estimates of $0.84 by $0.14. The firm had revenue of $504.60 million for the quarter, compared to analysts' expectations of $502.87 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. Masimo's revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. Research analysts expect that Masimo will post 4.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Masimo

Hedge funds have recently modified their holdings of the business. UMB Bank n.a. boosted its stake in shares of Masimo by 180.9% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the medical equipment provider's stock worth $32,000 after acquiring an additional 123 shares during the period. Blue Trust Inc. raised its holdings in shares of Masimo by 56.3% during the 4th quarter. Blue Trust Inc. now owns 197 shares of the medical equipment provider's stock worth $33,000 after buying an additional 71 shares in the last quarter. Trust Co. of Vermont acquired a new position in Masimo in the 4th quarter worth about $33,000. NBC Securities Inc. grew its position in shares of Masimo by 47.1% in the 3rd quarter. NBC Securities Inc. now owns 228 shares of the medical equipment provider's stock valued at $30,000 after buying an additional 73 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Masimo by 133.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 350 shares of the medical equipment provider's stock valued at $44,000 after buying an additional 200 shares during the last quarter. 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.