Masimo Corporation (NASDAQ:MASI) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• Masimo Corporation has received a consensus rating of "Buy" from seven brokerages, with an average 12-month target price of $194.60.
• In its latest earnings report, Masimo reported $1.33 EPS for the quarter, beating expectations and showing a year-over-year revenue increase of 7.7%.
• Insider activity includes Director William R. Jellison purchasing 3,000 shares at an average price of $145.98, increasing their stake by 167.6%.

Masimo Corporation (NASDAQ:MASI - Get Free Report) has been assigned a consensus rating of "Buy" from the seven brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $194.60.

MASI has been the topic of several research reports. Wall Street Zen upgraded shares of Masimo from a "hold" rating to a "buy" rating in a report on Sunday, September 28th. Zacks Research raised shares of Masimo from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. Piper Sandler boosted their target price on shares of Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Finally, BTIG Research reissued a "buy" rating and issued a $198.00 target price on shares of Masimo in a research report on Thursday, September 11th.

Masimo Stock Performance

Shares of MASI stock opened at $146.05 on Friday. The company's fifty day simple moving average is $147.12 and its 200-day simple moving average is $156.14. The company has a quick ratio of 1.61, a current ratio of 2.14 and a debt-to-equity ratio of 0.57. The firm has a market cap of $7.93 billion, a PE ratio of -17.14 and a beta of 1.28. Masimo has a 12 month low of $131.60 and a 12 month high of $194.88.

Masimo (NASDAQ:MASI - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The medical equipment provider reported $1.33 EPS for the quarter, beating 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 previous year, the company earned $0.86 earnings per share. The company's quarterly revenue was up 7.7% on a year-over-year basis. Equities research analysts expect that Masimo will post 4.1 EPS for the current fiscal year.

Insider Activity

In other Masimo news, Director William R. Jellison bought 3,000 shares of Masimo stock in a transaction dated Monday, August 11th. The stock was bought 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 in the company, valued at $699,244.20. The trade was a 167.60% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 9.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MASI. Durable Capital Partners LP bought a new position in shares of Masimo in the first quarter worth about $187,528,000. Viking Global Investors LP bought a new position in shares of Masimo in the second quarter worth about $129,096,000. Westfield Capital Management Co. LP lifted its holdings in shares of Masimo by 75.9% in the second 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 last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Masimo by 25.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,470,393 shares of the medical equipment provider's stock worth $415,570,000 after acquiring an additional 502,555 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC bought a new position in shares of Masimo in the second quarter worth about $40,468,000. 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.

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