Masimo (NASDAQ:MASI) Price Target Raised to $126.00 at Piper Sandler

Masimo (NASDAQ:MASI) had its price target boosted by research analysts at Piper Sandler from $117.00 to $126.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the medical equipment provider’s stock. Piper Sandler’s price target suggests a potential downside of 3.11% from the stock’s current price.

A number of other analysts have also commented on MASI. Stifel Nicolaus raised shares of Masimo from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $148.00 to $170.00 in a research report on Monday, April 15th. BTIG Research boosted their price target on shares of Masimo from $145.00 to $166.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Jefferies Financial Group restated a “hold” rating and issued a $121.00 price objective (up previously from $107.00) on shares of Masimo in a report on Tuesday, January 30th. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a report on Wednesday. Finally, StockNews.com upgraded Masimo from a “sell” rating to a “hold” rating in a research note on Friday, March 29th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Masimo has an average rating of “Hold” and a consensus target price of $138.71.

Masimo Trading Down 4.4 %

MASI opened at $130.04 on Wednesday. The firm’s fifty day simple moving average is $136.36 and its 200 day simple moving average is $119.58. The stock has a market capitalization of $6.88 billion, a P/E ratio of 90.07 and a beta of 0.99. The company has a current ratio of 2.18, a quick ratio of 1.22 and a debt-to-equity ratio of 0.64. Masimo has a 12 month low of $75.22 and a 12 month high of $188.14.

Masimo (NASDAQ:MASI) last posted its quarterly earnings data on Tuesday, May 7th. The medical equipment provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.06. Masimo had a return on equity of 13.77% and a net margin of 3.98%. The company had revenue of $492.80 million during the quarter, compared to analysts’ expectations of $487.70 million. During the same period in the prior year, the firm earned $0.87 earnings per share. Masimo’s revenue for the quarter was down 12.8% compared to the same quarter last year. As a group, research analysts anticipate that Masimo will post 3.51 EPS for the current fiscal year.

Insider Activity at Masimo

In other news, Director Craig B. Reynolds sold 40,000 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $136.17, for a total value of $5,446,800.00. Following the transaction, the director now directly owns 7,406 shares of the company’s stock, valued at $1,008,475.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Masimo

Institutional investors and hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp grew its holdings in Masimo by 59.4% in the 3rd quarter. Mackenzie Financial Corp now owns 2,550 shares of the medical equipment provider’s stock valued at $216,000 after buying an additional 950 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Masimo by 302.3% in the third quarter. TD Asset Management Inc now owns 71,430 shares of the medical equipment provider’s stock valued at $6,263,000 after acquiring an additional 53,676 shares during the period. Duality Advisers LP bought a new position in Masimo during the third quarter worth about $1,066,000. NBC Securities Inc. acquired a new stake in Masimo in the 3rd quarter worth about $34,000. Finally, Assenagon Asset Management S.A. acquired a new stake in Masimo in the 3rd quarter worth about $2,279,000. 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.