Masimo (NASDAQ:MASI) Trading Down 2.9%

Masimo Co. (NASDAQ:MASI - Get Free Report) shares traded down 2.9% during trading on Monday . The stock traded as low as $108.12 and last traded at $108.29. Approximately 44,319 shares were traded during trading, a decline of 93% from the average session volume of 643,865 shares. The stock had previously closed at $111.53.

Wall Street Analysts Forecast Growth

Several research firms have commented on MASI. Piper Sandler upped their price target on Masimo from $160.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, August 7th. Needham & Company LLC restated a "hold" rating on shares of Masimo in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $144.67.

Masimo Trading Down 0.2 %

The company's fifty day moving average is $114.61 and its 200-day moving average is $126.04. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.09 and a quick ratio of 1.15. The company has a market capitalization of $5.92 billion, a PE ratio of 75.79 and a beta of 0.98.

Masimo (NASDAQ:MASI - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. The business had revenue of $496.30 million during the quarter, compared to analyst estimates of $493.92 million. Masimo had a return on equity of 14.07% and a net margin of 3.94%. During the same period in the prior year, the business earned $0.62 earnings per share. The business's revenue was up 9.0% compared to the same quarter last year. On average, analysts anticipate that Masimo Co. will post 3.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Masimo

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Masimo by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 4,781,343 shares of the medical equipment provider's stock valued at $560,421,000 after buying an additional 26,473 shares during the last quarter. Capital Research Global Investors raised its position in shares of Masimo by 6.4% in the fourth quarter. Capital Research Global Investors now owns 2,269,189 shares of the medical equipment provider's stock valued at $265,972,000 after purchasing an additional 136,617 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Masimo by 6.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,607,310 shares of the medical equipment provider's stock valued at $188,393,000 after buying an additional 93,861 shares during the period. Farallon Capital Management LLC raised its holdings in shares of Masimo by 13.6% during the 1st quarter. Farallon Capital Management LLC now owns 1,489,563 shares of the medical equipment provider's stock worth $218,742,000 after buying an additional 177,914 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in 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 buying an additional 360,497 shares during the period. Hedge funds and other institutional investors 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.