Masimo (NASDAQ:MASI) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Masimo (NASDAQ:MASI) in a research report released on Wednesday morning, Benzinga reports.

A number of other research analysts have also weighed in on the stock. StockNews.com raised shares of Masimo from a sell rating to a hold rating in a research report on Friday, March 29th. Wells Fargo & Company upgraded shares of Masimo from an equal weight rating to an overweight rating and upped their price objective for the stock from $117.00 to $160.00 in a research report on Monday, March 25th. Jefferies Financial Group reissued a hold rating and set a $121.00 target price (up from $107.00) on shares of Masimo in a research note on Tuesday, January 30th. Stifel Nicolaus raised Masimo from a hold rating to a buy rating and increased their price target for the company from $148.00 to $170.00 in a research report on Monday, April 15th. Finally, Piper Sandler upped their price target on shares of Masimo from $70.00 to $117.00 and gave the stock a neutral rating in a report on Monday, February 26th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $138.71.

Masimo Price Performance

NASDAQ:MASI traded up $0.94 during trading hours on Wednesday, reaching $120.96. 22,391 shares of the company were exchanged, compared to its average volume of 574,904. The stock’s 50-day moving average is $136.19 and its 200-day moving average is $119.58. Masimo has a twelve month low of $75.22 and a twelve month high of $176.29. The company has a current ratio of 2.18, a quick ratio of 1.22 and a debt-to-equity ratio of 0.64. The firm has a market cap of $6.40 billion, a PE ratio of 79.48 and a beta of 0.99.

Masimo (NASDAQ:MASI) last released its quarterly earnings data on Tuesday, May 7th. The medical equipment provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The firm had revenue of $492.80 million for the quarter, compared to the consensus estimate of $487.70 million. Masimo had a net margin of 3.98% and a return on equity of 13.77%. The firm’s revenue was down 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.87 earnings per share. On average, sell-side analysts anticipate that Masimo will post 3.51 earnings per share for the current fiscal year.

Insider Transactions at Masimo

In related news, Director Craig B. Reynolds sold 40,000 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $136.17, for a total value of $5,446,800.00. Following the completion of the transaction, the director now directly owns 7,406 shares in the company, valued at $1,008,475.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp grew its stake in shares of Masimo by 59.4% in the 3rd quarter. Mackenzie Financial Corp now owns 2,550 shares of the medical equipment provider’s stock valued at $216,000 after purchasing an additional 950 shares during the period. TD Asset Management Inc lifted its stake in Masimo by 302.3% in the third quarter. TD Asset Management Inc now owns 71,430 shares of the medical equipment provider’s stock valued at $6,263,000 after acquiring an additional 53,676 shares during the last quarter. Duality Advisers LP bought a new stake in shares of Masimo during the third quarter worth approximately $1,066,000. NBC Securities Inc. bought a new position in Masimo during the 3rd quarter worth $34,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Masimo during the 3rd quarter worth $2,279,000. Institutional investors own 85.96% of the company’s stock.

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.