Piper Sandler Raises Masimo (NASDAQ:MASI) Price Target to $210.00

Masimo (NASDAQ:MASI) had its price target upped by Piper Sandler from $180.00 to $210.00 in a report issued on Wednesday,Benzinga reports. Piper Sandler currently has an overweight rating on the medical equipment provider’s stock.

A number of other equities research analysts have also recently weighed in on MASI. Wells Fargo & Company boosted their price target on shares of Masimo from $171.00 to $193.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a report on Wednesday, November 6th. Raymond James upgraded Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price target on the stock in a research note on Wednesday, November 6th. Stifel Nicolaus reiterated a “buy” rating and issued a $190.00 price objective (up previously from $170.00) on shares of Masimo in a research note on Friday, November 22nd. Finally, BTIG Research raised their target price on shares of Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Masimo has a consensus rating of “Moderate Buy” and an average target price of $175.67.

Masimo Trading Up 0.2 %

NASDAQ:MASI opened at $170.97 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01. Masimo has a 1 year low of $101.61 and a 1 year high of $180.97. The stock has a market cap of $9.15 billion, a P/E ratio of 117.91 and a beta of 1.01. The stock has a 50-day simple moving average of $159.31 and a 200-day simple moving average of $134.19.

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, beating analysts’ consensus estimates of $0.84 by $0.14. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The firm had revenue of $504.60 million during the quarter, compared to the consensus estimate of $502.87 million. During the same period in the prior year, the company posted $0.63 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, analysts anticipate that Masimo will post 4.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Masimo

Several hedge funds have recently modified their holdings of the stock. Edgestream Partners L.P. acquired a new position in Masimo during the 2nd quarter worth approximately $645,000. Simplify Asset Management Inc. lifted its holdings in shares of Masimo by 120.4% in the 2nd quarter. Simplify Asset Management Inc. now owns 21,670 shares of the medical equipment provider’s stock valued at $2,729,000 after buying an additional 11,838 shares during the period. ING Groep NV boosted its stake in shares of Masimo by 143.3% in the third quarter. ING Groep NV now owns 240,900 shares of the medical equipment provider’s stock valued at $32,119,000 after buying an additional 141,900 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in Masimo by 23.2% during the third quarter. Westfield Capital Management Co. LP now owns 1,394,056 shares of the medical equipment provider’s stock worth $185,869,000 after acquiring an additional 262,370 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in Masimo by 42.1% in the second quarter. Thrivent Financial for Lutherans now owns 1,217,357 shares of the medical equipment provider’s stock valued at $153,314,000 after acquiring an additional 360,497 shares during the period. 85.96% of the stock is owned by institutional investors and hedge funds.

Masimo Company Profile

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.