Masimo's (MASI) "Hold" Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Masimo (NASDAQ:MASI - Free Report) in a report issued on Friday morning, Benzinga reports.

Separately, Piper Sandler raised their price objective on shares of Masimo from $160.00 to $165.00 and gave the company an overweight rating 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's stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $144.67.

Masimo Stock Performance

Masimo stock traded up $9.69 during midday trading on Friday, reaching $121.42. The stock had a trading volume of 2,572,609 shares, compared to its average volume of 655,082. The firm has a market capitalization of $6.46 billion, a PE ratio of 82.60 and a beta of 0.98. Masimo has a 12 month low of $75.22 and a 12 month high of $153.93. 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's 50-day moving average price is $115.01 and its 200 day moving average price is $125.04.

Masimo (NASDAQ:MASI - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.77 by $0.09. Masimo had a net margin of 3.94% and a return on equity of 14.07%. The company had revenue of $496.30 million during the quarter, compared to the consensus estimate of $493.92 million. During the same period last year, the firm earned $0.62 EPS. Masimo's revenue for the quarter was up 9.0% on a year-over-year basis. As a group, research analysts predict that Masimo will post 3.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MASI. Riverview Trust Co bought a new position in Masimo in the 1st quarter worth $25,000. GAMMA Investing LLC increased its position in shares of Masimo by 75.0% during the second quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider's stock valued at $33,000 after buying an additional 111 shares during the period. EverSource Wealth Advisors LLC raised its stake in Masimo by 851.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 295 shares of the medical equipment provider's stock worth $35,000 after buying an additional 264 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Masimo by 133.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 350 shares of the medical equipment provider's stock worth $44,000 after buying an additional 200 shares during the period. Finally, Parallel Advisors LLC boosted its position in Masimo by 48.3% during the 4th quarter. Parallel Advisors LLC now owns 445 shares of the medical equipment provider's stock valued at $52,000 after acquiring an additional 145 shares in the last quarter. Institutional investors own 85.96% of the company's stock.

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.