Masimo (NASDAQ:MASI) Reaches New 1-Year Low – Here’s Why

Masimo Corporation (NASDAQ:MASI)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $133.11 and last traded at $134.13, with a volume of 225477 shares traded. The stock had previously closed at $137.40.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MASI. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $190.00 price objective on shares of Masimo in a research report on Friday, December 5th. Weiss Ratings restated a “sell (d)” rating on shares of Masimo in a report on Wednesday, October 8th. BTIG Research upped their price objective on Masimo from $198.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Bank of America began coverage on Masimo in a report on Monday, November 17th. They set a “neutral” rating and a $162.00 price objective for the company. Finally, Zacks Research cut Masimo from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 24th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $189.40.

Masimo Trading Up 0.7%

The firm has a market cap of $7.34 billion, a price-to-earnings ratio of -12.97, a P/E/G ratio of 1.46 and a beta of 1.26. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.84 and a quick ratio of 1.92. The business has a 50-day moving average of $144.14 and a 200-day moving average of $150.88.

Masimo (NASDAQ:MASI) last posted 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 33.04% and a negative net margin of 33.20%.The firm had revenue of $617.00 million for the quarter. Research analysts anticipate that Masimo Corporation will post 4.1 EPS for the current year.

Institutional Investors Weigh In On Masimo

A number of institutional investors and hedge funds have recently modified their holdings of MASI. Vanguard Group Inc. raised its stake in Masimo by 3.7% in the third quarter. Vanguard Group Inc. now owns 4,810,011 shares of the medical equipment provider’s stock valued at $709,717,000 after buying an additional 171,876 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Masimo by 6.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,619,960 shares of the medical equipment provider’s stock valued at $386,575,000 after acquiring an additional 149,567 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in Masimo by 0.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,673,252 shares of the medical equipment provider’s stock valued at $278,764,000 after acquiring an additional 10,876 shares during the period. State Street Corp lifted its holdings in Masimo by 0.7% during the 2nd quarter. State Street Corp now owns 1,486,394 shares of the medical equipment provider’s stock valued at $250,041,000 after purchasing an additional 10,403 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in Masimo by 20.2% during the third quarter. Westfield Capital Management Co. LP now owns 1,419,250 shares of the medical equipment provider’s stock worth $209,410,000 after purchasing an additional 238,047 shares during the period. 85.96% of the stock is 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.