Masimo (NASDAQ:MASI) Hits New 1-Year High - Here's What Happened

Masimo Co. (NASDAQ:MASI - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $184.51 and last traded at $179.93, with a volume of 107652 shares trading hands. The stock had previously closed at $180.36.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Masimo in a research note on Wednesday, January 22nd. Raymond James raised their price objective on Masimo from $170.00 to $194.00 and gave the company an "outperform" rating in a research note on Friday, December 27th. 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. Wells Fargo & Company raised their price objective on Masimo from $171.00 to $193.00 and gave the company an "overweight" rating in a research note on Wednesday, December 11th. Finally, Piper Sandler raised their price objective on Masimo from $180.00 to $210.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $191.40.

Masimo Trading Down 4.1 %

The company has a quick ratio of 1.11, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. The stock's fifty day moving average price is $172.90 and its two-hundred day moving average price is $151.29. The company has a market capitalization of $9.10 billion, a PE ratio of 117.21 and a beta of 1.02.

Institutional Trading of Masimo

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Forum Financial Management LP purchased a new stake in Masimo in the fourth quarter worth about $217,000. Pacific Point Advisors LLC purchased a new stake in Masimo in the fourth quarter worth about $208,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Masimo by 69.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 190,246 shares of the medical equipment provider's stock worth $31,448,000 after buying an additional 77,775 shares during the period. Woodline Partners LP lifted its holdings in Masimo by 450.4% in the fourth quarter. Woodline Partners LP now owns 51,185 shares of the medical equipment provider's stock worth $8,461,000 after buying an additional 41,885 shares during the period. Finally, Tidal Investments LLC lifted its holdings in shares of Masimo by 3,530.4% during the fourth quarter. Tidal Investments LLC now owns 86,731 shares of the medical equipment provider's stock valued at $14,337,000 after purchasing an additional 84,342 shares during the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

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.