Masimo (NASDAQ:MASI) Price Target Raised to $250.00

Masimo (NASDAQ:MASI) had its price objective upped by Raymond James from $235.00 to $250.00 in a research report report published on Wednesday morning, BenzingaRatingsTable reports. They currently have an outperform rating on the medical equipment provider’s stock.

A number of other research firms have also recently commented on MASI. UBS Group boosted their target price on shares of Masimo from $207.00 to $245.00 and gave the stock a buy rating in a research note on Thursday, April 30th. BTIG Research restated a hold rating on shares of Masimo in a research report on Thursday, July 9th. Needham & Company LLC lowered shares of Masimo from a buy rating to a hold rating in a research report on Monday, April 20th. BidaskClub upgraded shares of Masimo from a hold rating to a buy rating in a research report on Wednesday, July 8th. Finally, Stifel Nicolaus boosted their price target on shares of Masimo from $200.00 to $245.00 and gave the stock a buy rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $216.14.

MASI stock opened at $220.12 on Wednesday. The stock has a market capitalization of $12.10 billion, a P/E ratio of 57.03, a P/E/G ratio of 4.11 and a beta of 0.92. The firm has a 50-day simple moving average of $228.29 and a 200-day simple moving average of $202.59. Masimo has a 52 week low of $139.36 and a 52 week high of $258.00.

Masimo (NASDAQ:MASI) last released its earnings results on Tuesday, July 28th. The medical equipment provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.07. The business had revenue of $301.00 million during the quarter, compared to analysts’ expectations of $290.09 million. Masimo had a net margin of 21.22% and a return on equity of 16.49%. The company’s quarterly revenue was up 30.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.76 earnings per share. On average, equities research analysts expect that Masimo will post 2.74 earnings per share for the current year.

In related news, Director Adam Mikkelson sold 1,498 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $216.01, for a total transaction of $323,582.98. Following the sale, the director now directly owns 2,802 shares of the company’s stock, valued at approximately $605,260.02. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director H Michael Cohen sold 587 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $225.37, for a total transaction of $132,292.19. Following the sale, the director now directly owns 717 shares in the company, valued at $161,590.29. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,335 shares of company stock worth $749,625. Company insiders own 11.50% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. C M Bidwell & Associates Ltd. purchased a new stake in shares of Masimo in the 1st quarter valued at approximately $25,000. Parallel Advisors LLC increased its position in shares of Masimo by 272.1% in the 2nd quarter. Parallel Advisors LLC now owns 160 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 117 shares during the last quarter. Credit Agricole S A purchased a new stake in shares of Masimo in the 1st quarter valued at approximately $29,000. Altshuler Shaham Ltd increased its position in shares of Masimo by 91.0% in the 1st quarter. Altshuler Shaham Ltd now owns 170 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 81 shares during the last quarter. Finally, GQ Asset Management LLC purchased a new stake in shares of Masimo in the 1st quarter valued at approximately $32,000. 84.39% of the stock is currently owned by hedge funds and other institutional investors.

Masimo Company Profile

Masimo Corporation, a medical technology company, develops, manufactures, and markets noninvasive monitoring technologies 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.

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