Masimo (NASDAQ:MASI) Earns "Buy" Rating from BTIG Research

Key Points

• Masimo's stock received a "buy" rating from BTIG Research, with a target price of $198, suggesting a potential upside of 35.78% from its current price of $145.82.
• The company reported $1.33 earnings per share for the last quarter, exceeding expectations and marking a revenue increase of 7.7% compared to the same period last year.
• Insider trading activity shows that Director William R. Jellison acquired 3,000 shares at $145.98, raising his total holdings significantly.

Masimo (NASDAQ:MASI - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at BTIG Research in a research report issued on Thursday,Benzinga reports. They presently have a $198.00 target price on the medical equipment provider's stock. BTIG Research's price target would indicate a potential upside of 35.78% from the stock's current price.

Other equities research analysts have also recently issued reports about the stock. Zacks Research upgraded shares of Masimo from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. Piper Sandler raised their price objective on shares of Masimo from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen cut shares of Masimo from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $194.60.

Masimo Stock Performance

NASDAQ:MASI opened at $145.82 on Thursday. The company's 50-day moving average price is $153.09 and its 200-day moving average price is $159.81. The company has a current ratio of 2.14, a quick ratio of 1.61 and a debt-to-equity ratio of 0.57. The company has a market cap of $7.92 billion, a P/E ratio of -17.12 and a beta of 1.23. Masimo has a twelve month low of $111.03 and a twelve 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 earnings per share (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 during the quarter, compared to analysts' expectations of $368.65 million. During the same period last year, the business earned $0.86 earnings per share. Masimo's revenue was up 7.7% compared to the same quarter last year. On average, sell-side analysts forecast that Masimo will post 4.1 earnings per share for the current fiscal year.

Insider Activity at Masimo

In other Masimo news, Director William R. Jellison acquired 3,000 shares of the stock in a transaction dated Monday, August 11th. The stock was acquired at an average price of $145.98 per share, with a total value of $437,940.00. Following the completion of the purchase, the director owned 4,790 shares in the company, valued at $699,244.20. This trade represents a 167.60% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.70% of the company's stock.

Institutional Trading of Masimo

Several hedge funds have recently added to or reduced their stakes in MASI. Twin Tree Management LP acquired a new stake in Masimo in the first quarter valued at approximately $29,000. MAI Capital Management raised its holdings in Masimo by 176.7% in the second quarter. MAI Capital Management now owns 202 shares of the medical equipment provider's stock valued at $34,000 after acquiring an additional 129 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Masimo by 128.9% in the first quarter. Farther Finance Advisors LLC now owns 206 shares of the medical equipment provider's stock valued at $35,000 after acquiring an additional 116 shares in the last quarter. Hilltop National Bank acquired a new stake in Masimo during the second quarter worth approximately $37,000. Finally, Anderson Financial Strategies LLC acquired a new stake in Masimo during the first quarter worth approximately $49,000. 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.

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