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

Wall Street Zen upgraded shares of Masimo (NASDAQ:MASI) from a hold rating to a buy rating in a report issued on Sunday.

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

Masimo Stock Up 3.2%

MASI stock opened at $147.55 on Friday. The firm has a market cap of $8.02 billion, a PE ratio of -17.32 and a beta of 1.23. Masimo has a 1 year low of $131.60 and a 1 year high of $194.88. The company has a fifty day simple moving average of $147.88 and a 200 day simple moving average of $156.42. The company has a current ratio of 2.14, a quick ratio of 1.61 and a debt-to-equity ratio of 0.57.

Masimo (NASDAQ:MASI) last posted its 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 firm had revenue of $370.90 million for the quarter, compared to the consensus estimate of $368.65 million. During the same period in the prior year, the business posted $0.86 earnings per share. The business’s quarterly revenue was up 7.7% on a year-over-year basis. Sell-side analysts anticipate that Masimo will post 4.1 EPS for the current fiscal year.

Insider Transactions at Masimo

In related news, Director William R. Jellison bought 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were acquired at an average price of $145.98 per share, with a total value of $437,940.00. Following the completion of the transaction, the director owned 4,790 shares of the company’s stock, valued at $699,244.20. The trade was a 167.60% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 16.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MASI. Durable Capital Partners LP bought a new stake in shares of Masimo in the first quarter valued at about $187,528,000. Viking Global Investors LP acquired a new position in Masimo in the 2nd quarter valued at approximately $129,096,000. Westfield Capital Management Co. LP lifted its position in shares of Masimo by 75.9% in the 2nd quarter. Westfield Capital Management Co. LP now owns 1,181,203 shares of the medical equipment provider’s stock worth $198,702,000 after acquiring an additional 509,724 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Masimo by 25.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,470,393 shares of the medical equipment provider’s stock worth $415,570,000 after purchasing an additional 502,555 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in shares of Masimo during the 2nd quarter worth approximately $40,468,000. Institutional investors 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.