Masimo (NASDAQ:MASI) Price Target Raised to $180.00

Masimo (NASDAQ:MASI - Free Report) had its target price lifted by Piper Sandler from $165.00 to $180.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an overweight rating on the medical equipment provider's stock.

Several other equities research analysts have also commented on the company. Raymond James upgraded Masimo from a "market perform" rating to an "outperform" rating and set a $170.00 price objective on the stock in a research report on Wednesday. Needham & Company LLC reaffirmed a "hold" rating on shares of Masimo in a research note on Wednesday. Finally, BTIG Research upped their target price on Masimo from $166.00 to $170.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $152.57.

Masimo Stock Performance

Masimo stock traded up $16.07 during mid-day trading on Wednesday, hitting $167.63. The company had a trading volume of 2,121,364 shares, compared to its average volume of 682,499. 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 $75.36 and a 12-month high of $173.90. The company's fifty day moving average is $130.72 and its 200-day moving average is $125.34. The company has a market capitalization of $8.92 billion, a price-to-earnings ratio of 105.86 and a beta of 0.97.

Masimo (NASDAQ:MASI - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The medical equipment provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.84 by $0.14. Masimo had a return on equity of 14.07% and a net margin of 3.94%. The business had revenue of $504.60 million for the quarter, compared to analyst estimates of $502.87 million. During the same quarter in the prior year, the firm posted $0.63 EPS. The business's quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts predict that Masimo will post 3.88 EPS for the current year.

Institutional Trading of Masimo

Several large investors have recently added to or reduced their stakes in the stock. Farallon Capital Management LLC grew its holdings in Masimo by 13.6% in the 1st quarter. Farallon Capital Management LLC now owns 1,489,563 shares of the medical equipment provider's stock valued at $218,742,000 after buying an additional 177,914 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Masimo by 42.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,217,357 shares of the medical equipment provider's stock worth $153,314,000 after purchasing an additional 360,497 shares during the period. Point72 Asset Management L.P. grew its holdings in shares of Masimo by 107.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 677,677 shares of the medical equipment provider's stock worth $85,347,000 after purchasing an additional 351,523 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Masimo by 45.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 525,594 shares of the medical equipment provider's stock worth $66,201,000 after purchasing an additional 165,257 shares during the period. Finally, Bamco Inc. NY purchased a new position in shares of Masimo during the 1st quarter worth $50,781,000. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

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.