Masimo (NASDAQ:MASI) Upgraded to “Outperform” at Raymond James

Raymond James upgraded shares of Masimo (NASDAQ:MASI) from a market perform rating to an outperform rating in a research note released on Wednesday, MarketBeat Ratings reports. They currently have $170.00 price target on the medical equipment provider’s stock.

MASI has been the subject of several other reports. Piper Sandler reissued an “overweight” rating on shares of Masimo in a report on Friday, October 18th. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a report on Friday, September 20th. Finally, BTIG Research boosted their target price on Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a report on Monday, October 14th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Masimo presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.67.

Masimo Stock Up 0.7 %

Shares of NASDAQ MASI opened at $162.41 on Wednesday. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of 112.01 and a beta of 0.97. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.15. The business has a 50-day moving average of $133.52 and a two-hundred day moving average of $126.00. Masimo has a 1 year low of $81.82 and a 1 year high of $173.90.

Masimo (NASDAQ:MASI) last announced 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. The company had revenue of $504.60 million during the quarter, compared to the consensus estimate of $502.87 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. Masimo’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.63 EPS. On average, analysts forecast that Masimo will post 4.04 earnings per share for the current fiscal year.

Institutional Trading of Masimo

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NBC Securities Inc. raised its stake in Masimo by 47.1% during the 3rd quarter. NBC Securities Inc. now owns 228 shares of the medical equipment provider’s stock valued at $30,000 after acquiring an additional 73 shares during the last quarter. Fifth Third Bancorp raised its stake in Masimo by 16.4% during the 2nd quarter. Fifth Third Bancorp now owns 695 shares of the medical equipment provider’s stock valued at $88,000 after acquiring an additional 98 shares during the last quarter. Oak Thistle LLC raised its stake in Masimo by 5.2% during the 2nd quarter. Oak Thistle LLC now owns 2,079 shares of the medical equipment provider’s stock valued at $262,000 after acquiring an additional 103 shares during the last quarter. GAMMA Investing LLC raised its stake in Masimo by 75.0% during the 2nd quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider’s stock valued at $33,000 after acquiring an additional 111 shares during the last quarter. Finally, HHM Wealth Advisors LLC raised its stake in Masimo by 25.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider’s stock valued at $79,000 after acquiring an additional 125 shares during the last quarter. 85.96% of the stock is owned by hedge funds and other 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.