Masimo (NASDAQ:MASI) Given New $210.00 Price Target at Piper Sandler

Masimo (NASDAQ:MASI - Get Free Report) had its price target hoisted by Piper Sandler from $180.00 to $210.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the medical equipment provider's stock. Piper Sandler's target price would indicate a potential upside of 23.07% from the stock's current price.

Other analysts have also recently issued research reports about the stock. Needham & Company LLC reissued a "hold" rating on shares of Masimo in a report on Wednesday, November 6th. BTIG Research upped their price objective on shares of Masimo from $166.00 to $170.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Wells Fargo & Company upped their price objective on Masimo from $171.00 to $193.00 and gave the stock an "overweight" rating in a report on Wednesday, December 11th. Stifel Nicolaus reiterated a "buy" rating and set a $190.00 price target (up from $170.00) on shares of Masimo in a research report on Friday, November 22nd. Finally, Raymond James raised shares of Masimo from a "market perform" rating to an "outperform" rating and set a $170.00 price objective for the company in a research note on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $175.67.

Masimo Trading Down 2.0 %

Shares of MASI stock traded down $3.44 during trading hours on Wednesday, hitting $170.63. The company had a trading volume of 550,225 shares, compared to its average volume of 663,727. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11. The stock has a market capitalization of $9.14 billion, a PE ratio of 117.68 and a beta of 1.01. Masimo has a fifty-two week low of $101.61 and a fifty-two week high of $180.97. The company's fifty day moving average is $158.77 and its 200 day moving average is $133.93.

Masimo (NASDAQ:MASI - Get Free Report) last issued 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 return on equity of 14.98% and a net margin of 3.85%. The company had revenue of $504.60 million for the quarter, compared to the consensus estimate of $502.87 million. During the same quarter in the prior year, the business earned $0.63 EPS. Masimo's revenue was up 5.4% on a year-over-year basis. Research analysts expect that Masimo will post 4.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Masimo

Several hedge funds have recently modified their holdings of MASI. Fifth Third Bancorp raised its holdings in shares of Masimo by 16.4% during the second quarter. Fifth Third Bancorp now owns 695 shares of the medical equipment provider's stock worth $88,000 after purchasing an additional 98 shares during the period. Raymond James Trust N.A. grew its holdings in Masimo by 14.3% during the second quarter. Raymond James Trust N.A. now owns 6,414 shares of the medical equipment provider's stock worth $808,000 after acquiring an additional 800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Masimo by 8.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,877 shares of the medical equipment provider's stock valued at $992,000 after acquiring an additional 610 shares during the last quarter. Versor Investments LP bought a new position in shares of Masimo during the 2nd quarter valued at about $665,000. Finally, Roubaix Capital LLC bought a new position in shares of Masimo during the 2nd quarter valued at about $3,128,000. 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.