Brokerages Set Masimo Corporation (NASDAQ:MASI) PT at $191.60

Masimo Corporation (NASDAQ:MASI - Get Free Report) has been given a consensus rating of "Moderate Buy" by the six research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $191.60.

A number of equities research analysts have recently issued reports on the company. BTIG Research set a $193.00 price target on Masimo and gave the company a "buy" rating in a research report on Wednesday, May 7th. Piper Sandler restated an "overweight" rating and issued a $200.00 target price (down from $215.00) on shares of Masimo in a report on Wednesday, May 7th. Raymond James Financial cut their target price on Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Wall Street Zen lowered Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Wells Fargo & Company dropped their price objective on shares of Masimo from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th.

Insider Buying and Selling at Masimo

In other Masimo news, COO Bilal Muhsin sold 10,000 shares of Masimo stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $163.28, for a total transaction of $1,632,800.00. Following the completion of the sale, the chief operating officer now directly owns 24,172 shares in the company, valued at $3,946,804.16. This trade represents a 29.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.70% of the company's stock.

Hedge Funds Weigh In On Masimo

Hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp acquired a new position in Masimo during the fourth quarter worth $27,000. Twin Tree Management LP acquired a new stake in shares of Masimo in the first quarter valued at $29,000. Farther Finance Advisors LLC raised its holdings in shares of Masimo by 128.9% in the 1st quarter. Farther Finance Advisors LLC now owns 206 shares of the medical equipment provider's stock valued at $35,000 after buying an additional 116 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Masimo by 40.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 224 shares of the medical equipment provider's stock worth $37,000 after acquiring an additional 64 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Masimo by 31.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 250 shares of the medical equipment provider's stock worth $42,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 85.96% of the company's stock.

Masimo Price Performance

MASI traded up $1.50 during midday trading on Wednesday, hitting $168.21. 1,215,647 shares of the company traded hands, compared to its average volume of 642,703. The business has a 50 day simple moving average of $160.72 and a two-hundred day simple moving average of $166.67. Masimo has a 52-week low of $101.61 and a 52-week high of $194.88. The company has a market capitalization of $9.12 billion, a price-to-earnings ratio of -18.34 and a beta of 1.19. The company has a current ratio of 2.17, a quick ratio of 1.62 and a debt-to-equity ratio of 0.67.

Masimo (NASDAQ:MASI - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The medical equipment provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.12. Masimo had a negative net margin of 25.06% and a positive return on equity of 22.56%. The firm had revenue of $372.00 million during the quarter, compared to the consensus estimate of $367.79 million. During the same quarter in the prior year, the firm earned $0.77 EPS. The company's revenue for the quarter was down 24.5% on a year-over-year basis. On average, equities analysts forecast that Masimo will post 4.1 earnings per share for the current fiscal year.

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.