Masimo (NASDAQ:MASI) Shares Gap Up to $126.18

Shares of Masimo Co. (NASDAQ:MASI) gapped up prior to trading on Wednesday . The stock had previously closed at $126.18, but opened at $130.00. Masimo shares last traded at $133.59, with a volume of 95,384 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of Masimo from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a research report on Friday, September 20th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $144.67.

Masimo Trading Up 5.2 %

The company has a market capitalization of $7.06 billion, a P/E ratio of 91.69 and a beta of 0.98. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 2.09. The stock has a fifty day moving average of $115.66 and a 200 day moving average of $124.85.

Masimo (NASDAQ:MASI) last posted its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.77 by $0.09. Masimo had a return on equity of 14.07% and a net margin of 3.94%. The firm had revenue of $496.30 million for the quarter, compared to the consensus estimate of $493.92 million. During the same quarter last year, the company earned $0.62 earnings per share. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Masimo Co. will post 3.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Masimo

Several large investors have recently added to or reduced their stakes in the company. Edgestream Partners L.P. purchased a new stake in shares of Masimo in the second quarter worth $645,000. Simplify Asset Management Inc. lifted its position in shares of Masimo by 120.4% in the second quarter. Simplify Asset Management Inc. now owns 21,670 shares of the medical equipment provider’s stock valued at $2,729,000 after acquiring an additional 11,838 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Masimo by 282.0% in the fourth quarter. Wells Fargo & Company MN now owns 116,712 shares of the medical equipment provider’s stock worth $13,680,000 after acquiring an additional 86,162 shares during the period. State Board of Administration of Florida Retirement System raised its stake in Masimo by 11.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 54,839 shares of the medical equipment provider’s stock valued at $8,053,000 after purchasing an additional 5,688 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in Masimo by 32.1% in the 1st quarter. Advisors Asset Management Inc. now owns 9,009 shares of the medical equipment provider’s stock worth $1,323,000 after purchasing an additional 2,187 shares during the period. Hedge funds and other institutional investors own 85.96% of the company’s stock.

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.