Masimo (NASDAQ:MASI) Reaches New 52-Week High on Analyst Upgrade

Masimo Co. (NASDAQ:MASI) shares reached a new 52-week high during mid-day trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $171.00 to $193.00. Wells Fargo & Company currently has an overweight rating on the stock. Masimo traded as high as $178.84 and last traded at $178.84, with a volume of 28200 shares traded. The stock had previously closed at $174.65.

Several other research firms have also commented on MASI. BTIG Research raised their price objective on Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a report on Wednesday, November 6th. Raymond James raised Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price target on the stock in a research report on Wednesday, November 6th. Piper Sandler lifted their price objective on shares of Masimo from $165.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $190.00 target price (up from $170.00) on shares of Masimo in a research report on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Masimo currently has an average rating of “Moderate Buy” and an average price target of $170.67.

Hedge Funds Weigh In On Masimo

A number of institutional investors have recently made changes to their positions in the business. Edgestream Partners L.P. bought a new stake in shares of Masimo in the second quarter worth $645,000. Simplify Asset Management Inc. increased its position in shares of Masimo by 120.4% in the 2nd quarter. Simplify Asset Management Inc. now owns 21,670 shares of the medical equipment provider’s stock worth $2,729,000 after purchasing an additional 11,838 shares during the last quarter. ING Groep NV raised its stake in shares of Masimo by 143.3% in the 3rd quarter. ING Groep NV now owns 240,900 shares of the medical equipment provider’s stock valued at $32,119,000 after purchasing an additional 141,900 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in shares of Masimo by 23.2% during 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 purchasing an additional 262,370 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in Masimo by 42.1% in the second quarter. Thrivent Financial for Lutherans now owns 1,217,357 shares of the medical equipment provider’s stock worth $153,314,000 after purchasing an additional 360,497 shares in the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.

Masimo Stock Performance

The company has a fifty day moving average of $156.51 and a two-hundred day moving average of $132.80. The stock has a market capitalization of $9.37 billion, a P/E ratio of 120.74 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 (NASDAQ:MASI) last issued its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.14. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The business had revenue of $504.60 million during the quarter, compared to the consensus estimate of $502.87 million. During the same period in the previous year, the business earned $0.63 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities analysts anticipate that Masimo Co. will post 4.03 EPS for the current year.

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.