Masimo (NASDAQ:MASI) Downgraded to "Hold" Rating by Wall Street Zen

Masimo (NASDAQ:MASI - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Friday.

Several other equities analysts also recently weighed in on MASI. Wells Fargo & Company reduced their target price on Masimo from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. BTIG Research set a $193.00 price objective on shares of Masimo and gave the company a "buy" rating in a research note on Wednesday, May 7th. Piper Sandler reiterated an "overweight" rating and set a $200.00 price objective (down from $215.00) on shares of Masimo in a report on Wednesday, May 7th. Needham & Company LLC restated a "hold" rating on shares of Masimo in a report on Thursday, April 10th. Finally, Raymond James dropped their price target on shares of Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Masimo has a consensus rating of "Moderate Buy" and an average target price of $191.60.

Masimo Price Performance

Shares of MASI stock traded up $4.39 during mid-day trading on Friday, reaching $161.36. The stock had a trading volume of 1,085,666 shares, compared to its average volume of 649,664. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The business has a 50-day simple moving average of $157.13 and a 200 day simple moving average of $167.24. Masimo has a 12-month low of $101.61 and a 12-month high of $194.88. The company has a market cap of $8.75 billion, a P/E ratio of 111.28 and a beta of 1.23.

Masimo (NASDAQ:MASI - Get Free Report) last released its earnings results on Tuesday, May 6th. The medical equipment provider reported $1.36 EPS for the quarter, topping the consensus estimate of $1.24 by $0.12. The firm had revenue of $372.00 million during the quarter, compared to analysts' expectations of $367.79 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. Masimo's revenue for the quarter was down 24.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 EPS. On average, sell-side analysts anticipate that Masimo will post 4.1 earnings per share for the current year.

Insider Transactions at Masimo

In other Masimo news, COO Bilal Muhsin sold 10,000 shares of the business's stock in a transaction that occurred on 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. The trade was a 29.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Craig B. Reynolds sold 2,053 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $166.13, for a total transaction of $341,064.89. Following the completion of the sale, the director now directly owns 16,581 shares of the company's stock, valued at $2,754,601.53. The trade was a 11.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,053 shares of company stock worth $6,998,565 in the last three months. 9.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Masimo

Hedge funds have recently made changes to their positions in the business. Jones Financial Companies Lllp acquired a new stake in Masimo in the 4th quarter valued at $27,000. Twin Tree Management LP purchased a new stake in shares of Masimo in the first quarter worth about $29,000. Blue Trust Inc. grew its stake in shares of Masimo by 56.3% in the fourth quarter. Blue Trust Inc. now owns 197 shares of the medical equipment provider's stock valued at $33,000 after buying an additional 71 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of 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 buying an additional 116 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Masimo by 40.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 224 shares of the medical equipment provider's stock valued at $37,000 after buying an additional 64 shares during the period. Hedge funds and other 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.