Masimo (NASDAQ:MASI) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Masimo Co. (NASDAQ:MASI)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $138.22 and traded as high as $169.66. Masimo shares last traded at $168.80, with a volume of 634,326 shares trading hands.

Analyst Ratings Changes

MASI has been the subject of a number of research reports. Piper Sandler raised their price objective on Masimo from $180.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Wells Fargo & Company raised their price objective on shares of Masimo from $171.00 to $193.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Raymond James boosted their price objective on Masimo from $170.00 to $194.00 and gave the stock an “outperform” rating in a report on Friday, December 27th. Stifel Nicolaus restated a “buy” rating and set a $190.00 price target (up from $170.00) on shares of Masimo in a report on Friday, November 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Masimo in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $179.67.

Masimo Price Performance

The stock has a market cap of $8.91 billion, a P/E ratio of 114.77 and a beta of 1.01. The company has a quick ratio of 1.11, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. The business’s 50-day simple moving average is $168.12 and its two-hundred day simple moving average is $138.69.

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

Hedge Funds Weigh In On Masimo

Large investors have recently modified their holdings of the company. NBC Securities Inc. lifted its stake in Masimo by 47.1% in the 3rd quarter. NBC Securities Inc. now owns 228 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 73 shares in the last quarter. MML Investors Services LLC raised its position 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 in the last quarter. Assetmark Inc. boosted its stake in Masimo by 12.7% during the third quarter. Assetmark Inc. now owns 1,183 shares of the medical equipment provider’s stock valued at $158,000 after buying an additional 133 shares during the period. Nordea Investment Management AB grew its position in Masimo by 0.7% during the fourth quarter. Nordea Investment Management AB now owns 19,182 shares of the medical equipment provider’s stock worth $3,206,000 after buying an additional 142 shares in the last quarter. Finally, Sofinnova Investments Inc. increased its stake in Masimo by 0.8% in the 2nd quarter. Sofinnova Investments Inc. now owns 20,161 shares of the medical equipment provider’s stock worth $2,539,000 after acquiring an additional 161 shares during the last quarter. 85.96% of the stock is currently 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.