Masimo's (MASI) Buy Rating Reiterated at 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.

BTIG Research restated their buy rating on shares of Masimo (NASDAQ:MASI - Free Report) in a report issued on Thursday,Benzinga reports. The firm currently has a $198.00 price target on the medical equipment provider's stock.

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

Masimo Stock Performance

NASDAQ:MASI traded down $1.71 during midday trading on Thursday, reaching $144.02. The stock had a trading volume of 210,049 shares, compared to its average volume of 629,049. Masimo has a 1-year low of $111.03 and a 1-year high of $194.88. The firm's fifty day simple moving average is $151.92 and its 200-day simple moving average is $158.79. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.14 and a quick ratio of 1.61. The stock has a market capitalization of $7.82 billion, a P/E ratio of -16.90 and a beta of 1.23.

Masimo (NASDAQ:MASI - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $370.90 million for the quarter, compared to analyst estimates of $368.65 million. During the same period last year, the business posted $0.86 EPS. The business's quarterly revenue was up 7.7% on a year-over-year basis. On average, equities research analysts forecast that Masimo will post 4.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Masimo news, Director William R. Jellison purchased 3,000 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were acquired at an average cost 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 16.90% of the company's stock.

Institutional Investors Weigh In On Masimo

A number of hedge funds have recently made changes to their positions in MASI. Cetera Investment Advisers acquired a new stake in shares of Masimo in the 4th quarter valued at approximately $305,000. Deutsche Bank AG boosted its holdings in Masimo by 9.2% during the 4th quarter. Deutsche Bank AG now owns 6,217 shares of the medical equipment provider's stock worth $1,028,000 after acquiring an additional 526 shares during the last quarter. Ensign Peak Advisors Inc boosted its holdings in Masimo by 5.0% during the 4th quarter. Ensign Peak Advisors Inc now owns 14,876 shares of the medical equipment provider's stock worth $2,459,000 after acquiring an additional 715 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Masimo in the 4th quarter worth about $1,762,000. Finally, Quantinno Capital Management LP raised its stake in Masimo by 89.1% in the 4th quarter. Quantinno Capital Management LP now owns 3,990 shares of the medical equipment provider's stock valued at $660,000 after acquiring an additional 1,880 shares during the period. 85.96% of the stock is currently owned by institutional investors and hedge funds.

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.