Masimo (NASDAQ:MASI) Now Covered by Bank of America

Bank of America initiated coverage on shares of Masimo (NASDAQ:MASI) in a report issued on Monday, MarketBeat.com reports. The firm issued a neutral rating and a $162.00 price target on the medical equipment provider’s stock.

Several other analysts also recently weighed in on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Masimo in a research report on Wednesday, October 8th. Piper Sandler raised their price target on shares of Masimo from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 6th. Wells Fargo & Company decreased their price objective on shares of Masimo from $190.00 to $187.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. BTIG Research reissued a “buy” rating and issued a $198.00 price objective on shares of Masimo in a research report on Wednesday, November 5th. Finally, Wall Street Zen raised shares of Masimo from a “hold” rating to a “buy” rating in a research report on Tuesday, October 14th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Masimo presently has a consensus rating of “Hold” and an average price target of $188.67.

Masimo Stock Down 2.7%

Shares of NASDAQ:MASI opened at $147.03 on Monday. The firm has a market capitalization of $7.90 billion, a PE ratio of -17.26 and a beta of 1.28. The business has a 50 day simple moving average of $145.80 and a two-hundred day simple moving average of $153.22. Masimo has a 1 year low of $133.70 and a 1 year high of $194.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.14 and a quick ratio of 1.61.

Masimo (NASDAQ:MASI) last issued its quarterly earnings results on Thursday, June 20th. The medical equipment provider reported $1.42 earnings per share for the quarter. Masimo had a positive return on equity of 26.54% and a negative net margin of 24.85%.The firm had revenue of $617.00 million for the quarter. On average, equities analysts predict that Masimo will post 4.1 EPS for the current year.

Institutional Investors Weigh In On Masimo

Several hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. increased its holdings in Masimo by 2.2% during the first quarter. Envestnet Asset Management Inc. now owns 31,788 shares of the medical equipment provider’s stock valued at $5,296,000 after buying an additional 681 shares during the period. Victory Capital Management Inc. lifted its holdings in Masimo by 192.8% during the first quarter. Victory Capital Management Inc. now owns 26,367 shares of the medical equipment provider’s stock worth $4,393,000 after buying an additional 17,363 shares during the period. Kestra Private Wealth Services LLC bought a new stake in Masimo during the 1st quarter valued at $482,000. Choreo LLC purchased a new position in shares of Masimo in the 1st quarter valued at $239,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Masimo in the 1st quarter worth $1,067,000. 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.