Masimo (NASDAQ:MASI) Stock Price Expected to Rise, Raymond James Analyst Says

Masimo (NASDAQ:MASI) had its price objective increased by Raymond James from $170.00 to $194.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the medical equipment provider’s stock. Raymond James’ target price would suggest a potential upside of 13.44% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on MASI. Stifel Nicolaus reiterated a “buy” rating and issued a $190.00 target price (up from $170.00) on shares of Masimo in a research note on Friday, November 22nd. Piper Sandler lifted their price objective on shares of Masimo from $180.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Wells Fargo & Company upped their target price on shares of Masimo from $171.00 to $193.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. BTIG Research lifted their price target on Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Masimo in a report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Masimo presently has a consensus rating of “Moderate Buy” and an average price target of $179.67.

Masimo Trading Up 1.6 %

MASI opened at $171.02 on Friday. The stock has a market capitalization of $9.16 billion, a PE ratio of 117.94 and a beta of 1.01. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11. Masimo has a 12-month low of $101.61 and a 12-month high of $180.97. The firm’s fifty day moving average price is $162.44 and its 200 day moving average price is $135.91.

Masimo (NASDAQ:MASI) last issued its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.84 by $0.14. The business had revenue of $504.60 million for the quarter, compared to analysts’ expectations of $502.87 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.63 earnings per share. As a group, research analysts expect that Masimo will post 4.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Masimo

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Masimo by 8.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,877 shares of the medical equipment provider’s stock worth $992,000 after purchasing an additional 610 shares during the period. Versor Investments LP acquired a new stake in Masimo during the 2nd quarter worth about $665,000. Roubaix Capital LLC acquired a new stake in Masimo during the 2nd quarter worth about $3,128,000. National Bank of Canada FI purchased a new stake in Masimo during the second quarter valued at about $5,218,000. Finally, Arizona State Retirement System boosted its holdings in shares of Masimo by 2.0% in the second quarter. Arizona State Retirement System now owns 12,591 shares of the medical equipment provider’s stock worth $1,586,000 after buying an additional 247 shares during the period. Institutional investors and hedge funds own 85.96% of the company’s stock.

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.