Masimo (NASDAQ:MASI) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Masimo (NASDAQ:MASI) in a research report report published on Thursday morning,Benzinga reports.

MASI has been the topic of several other reports. BTIG Research lifted their target price on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Raymond James lifted their price objective on Masimo from $170.00 to $194.00 and gave the stock an “outperform” rating in a research note on Friday, December 27th. Wells Fargo & Company upped their target price on Masimo from $171.00 to $193.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $190.00 price objective (up from $170.00) on shares of Masimo in a research note on Friday, November 22nd. Finally, Piper Sandler lifted their target price on shares of Masimo from $180.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Masimo currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.67.

Masimo Stock Performance

NASDAQ:MASI opened at $169.94 on Thursday. The stock’s 50-day moving average is $169.03 and its 200-day moving average is $139.75. Masimo has a 1-year low of $101.61 and a 1-year high of $180.97. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The stock has a market cap of $9.10 billion, a P/E ratio of 117.20 and a beta of 1.01.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MASI. FMR LLC increased its stake in Masimo by 41.2% in the third quarter. FMR LLC now owns 6,756,618 shares of the medical equipment provider’s stock valued at $900,860,000 after purchasing an additional 1,970,883 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Masimo by 42.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,217,357 shares of the medical equipment provider’s stock valued at $153,314,000 after buying an additional 360,497 shares in the last quarter. Point72 Asset Management L.P. raised its stake in Masimo by 107.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 677,677 shares of the medical equipment provider’s stock worth $85,347,000 after buying an additional 351,523 shares during the period. Westfield Capital Management Co. LP boosted its holdings in Masimo by 23.2% in the third quarter. Westfield Capital Management Co. LP now owns 1,394,056 shares of the medical equipment provider’s stock worth $185,869,000 after acquiring an additional 262,370 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Masimo by 916.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 216,051 shares of the medical equipment provider’s stock worth $35,713,000 after acquiring an additional 194,788 shares in the last quarter. 85.96% of the stock is owned by institutional investors.

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.