Wells Fargo & Company Cuts Masimo (NASDAQ:MASI) Price Target to $190.00

Masimo (NASDAQ:MASI) had its target price reduced by Wells Fargo & Company from $205.00 to $190.00 in a research report report published on Wednesday,Benzinga reports. They currently have an overweight rating on the medical equipment provider’s stock.

Several other research firms have also issued reports on MASI. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a research report on Thursday, April 10th. Piper Sandler raised their target price on Masimo from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $191.60.

Masimo Price Performance

Shares of NASDAQ:MASI opened at $157.18 on Wednesday. The business has a fifty day simple moving average of $161.66 and a 200-day simple moving average of $166.58. The company has a quick ratio of 1.11, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. Masimo has a 52 week low of $101.61 and a 52 week high of $194.88. The company has a market cap of $8.49 billion, a P/E ratio of 108.40 and a beta of 1.23.

Masimo (NASDAQ:MASI) last released its earnings results on Tuesday, May 6th. The medical equipment provider reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.12. The business had revenue of $372.00 million for the quarter, compared to analysts’ expectations of $367.79 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The company’s quarterly revenue was down 24.5% on a year-over-year basis. During the same period last year, the company earned $0.77 earnings per share. Equities research analysts forecast that Masimo will post 4.1 EPS for the current year.

Insiders Place Their Bets

In other Masimo news, COO Bilal Muhsin sold 30,000 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $167.49, for a total transaction of $5,024,700.00. Following the completion of the sale, the chief operating officer now owns 24,172 shares in the company, valued at $4,048,568.28. The trade was a 55.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Craig B. Reynolds sold 2,053 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $166.13, for a total transaction of $341,064.89. Following the completion of the transaction, the director now owns 16,581 shares in the company, valued at approximately $2,754,601.53. The trade was a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.70% of the stock is currently owned by company insiders.

Institutional Trading of Masimo

Several hedge funds have recently made changes to their positions in MASI. FMR LLC lifted its stake in Masimo by 19.8% in the fourth quarter. FMR LLC now owns 8,097,454 shares of the medical equipment provider’s stock valued at $1,338,509,000 after buying an additional 1,340,836 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Masimo by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 4,586,702 shares of the medical equipment provider’s stock worth $758,182,000 after buying an additional 66,215 shares during the period. Capital Research Global Investors raised its stake in Masimo by 80.5% during the 4th quarter. Capital Research Global Investors now owns 2,454,975 shares of the medical equipment provider’s stock valued at $405,807,000 after acquiring an additional 1,094,647 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Masimo by 13.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,967,838 shares of the medical equipment provider’s stock worth $327,842,000 after acquiring an additional 232,671 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of Masimo by 8.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,662,376 shares of the medical equipment provider’s stock valued at $274,791,000 after purchasing an additional 135,888 shares during the period. 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.