Masimo (NASDAQ:MASI) Raised to Buy at Wall Street Zen

Masimo (NASDAQ:MASI) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

A number of other equities analysts have also recently issued reports on the stock. Piper Sandler raised their target price on shares of Masimo from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 6th. Zacks Research raised shares of Masimo from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. Finally, BTIG Research reissued a “buy” rating and issued a $198.00 target price on shares of Masimo in a report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Masimo presently has a consensus rating of “Buy” and an average price target of $194.60.

Masimo Stock Performance

Shares of MASI stock opened at $142.94 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.61 and a current ratio of 2.14. Masimo has a one year low of $131.60 and a one year high of $194.88. The company’s 50-day simple moving average is $148.09 and its 200-day simple moving average is $156.48. The stock has a market capitalization of $7.77 billion, a price-to-earnings ratio of -16.78 and a beta of 1.23.

Masimo (NASDAQ:MASI) last issued its quarterly earnings results on Tuesday, August 5th. The medical equipment provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.22 by $0.11. Masimo had a negative net margin of 24.85% and a positive return on equity of 26.54%. The business had revenue of $370.90 million for the quarter, compared to analysts’ expectations of $368.65 million. During the same quarter last year, the company posted $0.86 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts anticipate that Masimo will post 4.1 earnings per share for the current fiscal year.

Insider Transactions at Masimo

In other Masimo news, Director William R. Jellison purchased 3,000 shares of the firm’s stock in a transaction on Monday, August 11th. The shares were purchased at an average price of $145.98 per share, for a total transaction of $437,940.00. Following the completion of the transaction, the director owned 4,790 shares in the company, valued at $699,244.20. This represents a 167.60% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Twin Tree Management LP acquired a new position in Masimo in the first quarter worth approximately $29,000. MAI Capital Management grew its position in Masimo by 176.7% during the 2nd quarter. MAI Capital Management now owns 202 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 129 shares in the last quarter. Farther Finance Advisors LLC grew its position in Masimo by 128.9% during the 1st quarter. Farther Finance Advisors LLC now owns 206 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 116 shares in the last quarter. Hilltop National Bank purchased a new position in Masimo during the 2nd quarter worth approximately $37,000. Finally, Anderson Financial Strategies LLC purchased a new position in Masimo during the 1st quarter worth approximately $49,000. Institutional investors and hedge funds 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.