Masimo (NASDAQ:MASI) Given Hold Rating at Needham & Company LLC

Masimo (NASDAQ:MASI)‘s stock had its “hold” rating reissued by equities researchers at Needham & Company LLC in a research note issued to investors on Friday, Benzinga reports.

Separately, Piper Sandler raised their target price on shares of Masimo from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $144.67.

Masimo Stock Performance

Shares of MASI stock traded up $5.70 during mid-day trading on Friday, reaching $117.43. The stock had a trading volume of 980,266 shares, compared to its average volume of 646,333. Masimo has a 1-year low of $75.22 and a 1-year high of $153.93. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of 79.88 and a beta of 0.98. The company has a current ratio of 2.09, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. The business’s fifty day moving average is $114.82 and its 200-day moving average is $125.08.

Masimo (NASDAQ:MASI) last issued its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.09. Masimo had a net margin of 3.94% and a return on equity of 14.07%. The company had revenue of $496.30 million for the quarter, compared to the consensus estimate of $493.92 million. During the same quarter in the prior year, the company earned $0.62 EPS. Masimo’s quarterly revenue was up 9.0% on a year-over-year basis. On average, research analysts forecast that Masimo will post 3.87 earnings per share for the current year.

Hedge Funds Weigh In On Masimo

Several large investors have recently made changes to their positions in MASI. Fifth Third Bancorp increased its holdings in Masimo by 16.4% in the second quarter. Fifth Third Bancorp now owns 695 shares of the medical equipment provider’s stock valued at $88,000 after buying an additional 98 shares in the last quarter. Oak Thistle LLC raised its holdings in Masimo by 5.2% in the 2nd quarter. Oak Thistle LLC now owns 2,079 shares of the medical equipment provider’s stock worth $262,000 after purchasing an additional 103 shares during the period. GAMMA Investing LLC boosted its position in Masimo by 75.0% during the second quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider’s stock worth $33,000 after purchasing an additional 111 shares in the last quarter. HHM Wealth Advisors LLC grew its holdings in Masimo by 25.0% in the second quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider’s stock valued at $79,000 after purchasing an additional 125 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of Masimo by 48.3% in the fourth quarter. Parallel Advisors LLC now owns 445 shares of the medical equipment provider’s stock valued at $52,000 after buying an additional 145 shares in the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.

About Masimo

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.