Masimo (NASDAQ:MASI) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Masimo (NASDAQ:MASI) had its price objective increased by stock analysts at Wells Fargo & Company from $171.00 to $193.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the medical equipment provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 10.24% from the stock’s previous close.

Several other brokerages also recently issued reports on MASI. Raymond James raised shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 target price on the stock in a research note on Wednesday, November 6th. Stifel Nicolaus restated a “buy” rating and set a $190.00 price objective (up from $170.00) on shares of Masimo in a research report on Friday, November 22nd. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a research report on Wednesday, November 6th. Piper Sandler boosted their price objective on shares of Masimo from $165.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Finally, BTIG Research lifted their target price on shares of Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Masimo has a consensus rating of “Moderate Buy” and an average target price of $170.67.

Masimo Stock Up 0.4 %

NASDAQ MASI opened at $175.08 on Wednesday. The company has a market capitalization of $9.37 billion, a P/E ratio of 120.74 and a beta of 1.01. Masimo has a 12 month low of $101.61 and a 12 month high of $178.87. 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 company’s 50 day simple moving average is $156.51 and its 200 day simple moving average is $132.80.

Masimo (NASDAQ:MASI) last announced its quarterly earnings data on Tuesday, November 5th. The medical equipment provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.14. The company had revenue of $504.60 million during the quarter, compared to the consensus estimate of $502.87 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 EPS. Equities research analysts expect that Masimo will post 4.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Masimo

Several hedge funds have recently bought and sold shares of MASI. NBC Securities Inc. increased 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 acquiring an additional 73 shares during the last quarter. MML Investors Services LLC lifted its stake in shares of Masimo by 4.9% in the third quarter. MML Investors Services LLC now owns 2,056 shares of the medical equipment provider’s stock worth $274,000 after buying an additional 96 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Masimo by 16.4% during the 2nd quarter. Fifth Third Bancorp now owns 695 shares of the medical equipment provider’s stock worth $88,000 after buying an additional 98 shares during the period. Oak Thistle LLC boosted its holdings in shares of Masimo by 5.2% during the 2nd quarter. Oak Thistle LLC now owns 2,079 shares of the medical equipment provider’s stock worth $262,000 after buying an additional 103 shares during the period. Finally, HHM Wealth Advisors LLC raised its holdings in Masimo by 25.0% in the 2nd quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider’s stock worth $79,000 after acquiring an additional 125 shares during the period. 85.96% of the stock is owned by institutional investors and hedge funds.

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.