Masimo (NASDAQ:MASI) Rating Increased to Outperform at Raymond James

Masimo (NASDAQ:MASI - Get Free Report) was upgraded by stock analysts at Raymond James from a "market perform" rating to an "outperform" rating in a research report issued on Wednesday, MarketBeat.com reports. The firm currently has a $170.00 price objective on the medical equipment provider's stock. Raymond James' price target points to a potential upside of 1.41% from the company's current price.

Several other research analysts also recently commented on the company. BTIG Research raised their price objective on Masimo from $166.00 to $170.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. Needham & Company LLC reissued a "hold" rating on shares of Masimo in a report on Friday, September 20th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Masimo in a report on Friday, October 18th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $152.57.

Masimo Stock Performance

Shares of Masimo stock traded up $16.07 during trading hours on Wednesday, reaching $167.63. 2,121,364 shares of the stock traded hands, compared to its average volume of 574,318. The company has a 50 day moving average price of $131.74 and a 200 day moving average price of $125.64. Masimo has a one year low of $75.36 and a one year high of $173.90. The company has a quick ratio of 1.15, a current ratio of 2.09 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $8.92 billion, a price-to-earnings ratio of 114.03 and a beta of 0.97.

Masimo (NASDAQ:MASI - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.14. Masimo had a net margin of 3.94% and a return on equity of 14.07%. The business had revenue of $504.60 million for the quarter, compared to the consensus estimate of $502.87 million. During the same period last year, the firm earned $0.63 earnings per share. The company's quarterly revenue was up 5.4% on a year-over-year basis. On average, equities research analysts expect that Masimo will post 3.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Masimo

Several institutional investors have recently bought and sold shares of the stock. NBC Securities Inc. grew its position in shares of Masimo by 47.1% during the third quarter. NBC Securities Inc. now owns 228 shares of the medical equipment provider's stock valued at $30,000 after purchasing an additional 73 shares in the last quarter. GAMMA Investing LLC increased its stake in Masimo by 75.0% in the 2nd quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider's stock worth $33,000 after acquiring an additional 111 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Masimo by 133.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 350 shares of the medical equipment provider's stock worth $44,000 after acquiring an additional 200 shares in the last quarter. HHM Wealth Advisors LLC boosted its position in shares of Masimo by 25.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider's stock valued at $79,000 after acquiring an additional 125 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of Masimo by 5,730.0% in the first quarter. Lazard Asset Management LLC now owns 583 shares of the medical equipment provider's stock valued at $85,000 after purchasing an additional 573 shares in the last quarter. 85.96% of the stock is 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.