Masimo (NASDAQ:MASI) Issues Quarterly Earnings Results

Key Points

• Masimo reported $1.33 earnings per share (EPS) for the quarter, exceeding analysts' expectations of $1.22 and showing a 7.7% increase in revenue year-over-year.
• The company's market capitalization is $8.89 billion and has seen fluctuations in its stock price ranging from a 52-week low of $105.58 to a high of $194.88.
• Analysts have mixed ratings on Masimo's stock, with a consensus rating of "Moderate Buy" and an average target price set at $191.60 despite some recent downward adjustments.

Masimo (NASDAQ:MASI - Get Free Report) posted its quarterly earnings data on Tuesday. The medical equipment provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.11, Zacks reports. The business had revenue of $370.90 million during the quarter, compared to the consensus estimate of $368.65 million. Masimo had a positive return on equity of 26.54% and a negative net margin of 24.85%. Masimo's quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the company earned $0.86 earnings per share.

Masimo Stock Performance

Masimo stock traded up $1.56 during mid-day trading on Friday, hitting $146.46. 443,795 shares of the company's stock traded hands, compared to its average volume of 625,920. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.14 and a quick ratio of 1.62. The firm has a 50 day simple moving average of $162.80 and a two-hundred day simple moving average of $164.85. Masimo has a fifty-two week low of $107.98 and a fifty-two week high of $194.88. The stock has a market cap of $7.94 billion, a price-to-earnings ratio of -17.19 and a beta of 1.21.

Insider Activity at Masimo

In other news, COO Bilal Muhsin sold 10,000 shares of the firm's 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 owned 24,172 shares in the company, valued at approximately $3,946,804.16. This trade represents a 29.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 9.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Masimo

A number of institutional investors have recently modified their holdings of MASI. Goldman Sachs Group Inc. lifted its position in shares of Masimo by 38.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 280,255 shares of the medical equipment provider's stock valued at $46,690,000 after acquiring an additional 78,003 shares during the period. Jones Financial Companies Lllp lifted its position in Masimo by 1,267.1% during the first quarter. Jones Financial Companies Lllp now owns 2,201 shares of the medical equipment provider's stock worth $367,000 after purchasing an additional 2,040 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Masimo during the first quarter worth about $220,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Masimo by 0.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,371 shares of the medical equipment provider's stock worth $1,894,000 after buying an additional 66 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Masimo by 136.5% in the 1st quarter. AQR Capital Management LLC now owns 8,142 shares of the medical equipment provider's stock valued at $1,305,000 after buying an additional 4,700 shares during the period. Institutional investors own 85.96% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MASI. BTIG Research reaffirmed a "buy" rating on shares of Masimo in a research report on Monday, July 14th. Wells Fargo & Company cut their price objective on Masimo from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Wall Street Zen downgraded shares of Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Piper Sandler upped their price target on shares of Masimo from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Needham & Company LLC reissued a "hold" rating on shares of Masimo in a research report on Thursday, April 10th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $193.60.

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.