Piper Sandler Forecasts Strong Price Appreciation for Masimo (NASDAQ:MASI) Stock

Masimo (NASDAQ:MASI) had its price objective raised by stock analysts at Piper Sandler from $180.00 to $210.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the medical equipment provider’s stock. Piper Sandler’s price target points to a potential upside of 23.53% from the company’s current price.

Other equities research analysts have also issued reports about the company. Wells Fargo & Company lifted their price target on Masimo from $171.00 to $193.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. 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 reaffirmed a “hold” rating on shares of Masimo in a research report on Wednesday, November 6th. Raymond James raised shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price target for the company in a research report on Wednesday, November 6th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $190.00 price objective (up previously from $170.00) on shares of Masimo in a report on Friday, November 22nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.67.

Masimo Trading Down 0.4 %

NASDAQ MASI opened at $170.00 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01. Masimo has a fifty-two week low of $101.61 and a fifty-two week high of $180.97. The stock has a market cap of $9.10 billion, a P/E ratio of 117.24 and a beta of 1.01. The stock has a 50 day simple moving average of $159.87 and a two-hundred day simple moving average of $134.44.

Masimo (NASDAQ:MASI) last released its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share (EPS) for the quarter, topping 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 company had revenue of $504.60 million during the quarter, compared to the consensus estimate of $502.87 million. During the same period in the prior year, the firm earned $0.63 earnings per share. Masimo’s revenue was up 5.4% on a year-over-year basis. On average, analysts forecast that Masimo will post 4.03 earnings per share for the current year.

Institutional Trading of Masimo

A number of institutional investors and hedge funds have recently bought and sold shares of the company. NBC Securities Inc. grew its holdings in shares of Masimo by 47.1% during the third quarter. NBC Securities Inc. now owns 228 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 73 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Masimo by 133.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 350 shares of the medical equipment provider’s stock worth $44,000 after purchasing an additional 200 shares in the last quarter. HHM Wealth Advisors LLC raised its stake in shares of Masimo by 25.0% in the second quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider’s stock worth $79,000 after purchasing an additional 125 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Masimo by 16.4% during the second quarter. Fifth Third Bancorp now owns 695 shares of the medical equipment provider’s stock valued at $88,000 after purchasing an additional 98 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Masimo during the second quarter valued at $109,000. 85.96% of the stock is currently owned by institutional investors.

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.