Masimo’s (MASI) Overweight Rating Reiterated at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Masimo (NASDAQ:MASI) in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a $200.00 price target on the medical equipment provider’s stock, down from their prior price target of $215.00.

Other analysts have also recently issued research reports about the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research report on Thursday, April 10th. Raymond James decreased their target price on Masimo from $204.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company reduced their price target on shares of Masimo from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $191.60.

Masimo Price Performance

Shares of MASI stock opened at $157.18 on Wednesday. The firm has a market capitalization of $8.49 billion, a price-to-earnings ratio of 108.40 and a beta of 1.23. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01. The stock’s 50-day simple moving average is $161.66 and its 200-day simple moving average is $166.58. Masimo has a fifty-two week low of $101.61 and a fifty-two week high of $194.88.

Masimo (NASDAQ:MASI) last issued its quarterly earnings results on Tuesday, May 6th. The medical equipment provider reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.12. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The business had revenue of $372.00 million for the quarter, compared to analyst estimates of $367.79 million. During the same quarter in the prior year, the business posted $0.77 EPS. Masimo’s revenue for the quarter was down 24.5% compared to the same quarter last year. As a group, equities analysts forecast that Masimo will post 4.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Masimo

In other Masimo news, Director Craig B. Reynolds sold 2,053 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $166.13, for a total value of $341,064.89. Following the completion of the transaction, the director now owns 16,581 shares in the company, valued at approximately $2,754,601.53. This represents a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Bilal Muhsin sold 30,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $167.49, for a total value of $5,024,700.00. Following the sale, the chief operating officer now owns 24,172 shares in the company, valued at $4,048,568.28. This trade represents a 55.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Masimo

A number of hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. raised its stake in shares of Masimo by 17.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 31,107 shares of the medical equipment provider’s stock worth $5,142,000 after buying an additional 4,579 shares during the period. Lecap Asset Management Ltd. acquired a new position in Masimo during the fourth quarter worth $1,607,000. Nisa Investment Advisors LLC lifted its holdings in Masimo by 16,740.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,052 shares of the medical equipment provider’s stock valued at $835,000 after purchasing an additional 5,022 shares in the last quarter. Trust Point Inc. acquired a new stake in shares of Masimo in the fourth quarter valued at about $230,000. Finally, Barclays PLC increased its stake in shares of Masimo by 152.6% during the third quarter. Barclays PLC now owns 39,957 shares of the medical equipment provider’s stock worth $5,329,000 after purchasing an additional 24,137 shares in the last quarter. 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.