Masimo (NASDAQ:MASI) Given New $187.00 Price Target at Wells Fargo & Company

Masimo (NASDAQ:MASI) had its target price cut by Wells Fargo & Company from $190.00 to $187.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical equipment provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 32.55% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Zacks Research downgraded shares of Masimo from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 24th. BTIG Research reaffirmed a “buy” rating and issued a $198.00 target price on shares of Masimo in a report on Wednesday. Wall Street Zen raised Masimo from a “hold” rating to a “buy” rating in a report on Tuesday, October 14th. Piper Sandler upped their price objective on Masimo from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Masimo in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $194.00.

Masimo Price Performance

MASI traded down $7.93 on Wednesday, hitting $141.08. 560,456 shares of the stock were exchanged, compared to its average volume of 639,397. The firm has a market capitalization of $7.66 billion, a price-to-earnings ratio of -16.56 and a beta of 1.28. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.14 and a quick ratio of 1.61. Masimo has a 12 month low of $133.70 and a 12 month high of $194.88. The business has a 50-day moving average of $144.91 and a two-hundred day moving average of $154.05.

Masimo (NASDAQ:MASI) last released its earnings results on Thursday, June 20th. The medical equipment provider reported $1.42 EPS for the quarter. The firm had revenue of $617.00 million for the quarter. Masimo had a negative net margin of 24.85% and a positive return on equity of 26.54%. Sell-side analysts forecast that Masimo will post 4.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other Masimo news, Director William R. Jellison bought 3,000 shares of Masimo stock in a transaction on Monday, August 11th. The shares were purchased at an average cost of $145.98 per share, with a total value of $437,940.00. Following the acquisition, the director directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Masimo

A number of hedge funds have recently modified their holdings of the business. Twin Tree Management LP acquired a new stake in Masimo in the first quarter valued at $29,000. MAI Capital Management grew its position in shares of Masimo by 176.7% in the 2nd quarter. MAI Capital Management now owns 202 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 129 shares during the last quarter. Hilltop National Bank acquired a new stake in shares of Masimo in the second quarter valued at about $37,000. Anderson Financial Strategies LLC acquired a new stake in shares of Masimo in the first quarter valued at about $49,000. Finally, Allworth Financial LP raised its position in shares of Masimo by 72.8% during the second quarter. Allworth Financial LP now owns 387 shares of the medical equipment provider’s stock worth $65,000 after acquiring an additional 163 shares during the last quarter. Institutional investors and hedge funds 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.