Masimo (NASDAQ:MASI) Hits New 1-Year High – Here’s What Happened

Masimo Co. (NASDAQ:MASI) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $174.26 and last traded at $173.91, with a volume of 338885 shares changing hands. The stock had previously closed at $169.12.

Analyst Upgrades and Downgrades

MASI has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a research note on Wednesday, November 6th. Wells Fargo & Company boosted their target price on shares of Masimo from $160.00 to $171.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Stifel Nicolaus restated a “buy” rating and issued a $190.00 target price (up from $170.00) on shares of Masimo in a research note on Friday. Raymond James raised shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price target on the stock in a research note on Wednesday, November 6th. Finally, Piper Sandler lifted their target price on Masimo from $165.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Masimo currently has an average rating of “Moderate Buy” and a consensus price target of $167.00.

Masimo Stock Up 2.3 %

The firm has a fifty day moving average price of $142.28 and a 200 day moving average price of $127.76. The firm has a market capitalization of $9.26 billion, a price-to-earnings ratio of 117.80 and a beta of 0.97. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50.

Masimo (NASDAQ:MASI) last released its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.14. The company had revenue of $504.60 million for the quarter, compared to analyst estimates of $502.87 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. Masimo’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 earnings per share. Sell-side analysts anticipate that Masimo Co. will post 4.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Masimo

Several institutional investors have recently made changes to their positions in MASI. NBC Securities Inc. grew its holdings in shares of Masimo by 47.1% during the 3rd 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 during the last quarter. GAMMA Investing LLC lifted its stake in Masimo by 75.0% in 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. Northwestern Mutual Wealth Management Co. boosted its position 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 purchasing an additional 200 shares in the last quarter. HHM Wealth Advisors LLC increased its stake in 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 purchasing an additional 125 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in Masimo by 5,730.0% in the 1st quarter. Lazard Asset Management LLC now owns 583 shares of the medical equipment provider’s stock valued at $85,000 after acquiring an additional 573 shares in the last quarter. 85.96% of the stock is currently owned by 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.