Masimo (NASDAQ:MASI) Price Target Raised to $210.00 at Piper Sandler

Key Points

• Analysts at Piper Sandler have increased Masimo's price target from $200.00 to $210.00, indicating a potential upside of 44.85% from the company's last closing price.
• Masimo's stock is currently down 11.5%, with a trading price of $144.98 despite recent positive earnings of $1.33 per share, beating estimates.
• The company has a consensus rating of "Moderate Buy" among analysts, with five buy ratings and two hold ratings from various brokerages.

Masimo (NASDAQ:MASI - Free Report) had its price target upped by Piper Sandler from $200.00 to $210.00 in a research note issued to investors on Wednesday,Benzinga reports. Piper Sandler currently has an overweight rating on the medical equipment provider's stock.

A number of other equities analysts also recently weighed in on the stock. Wall Street Zen downgraded shares of Masimo from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Needham & Company LLC restated a "hold" rating on shares of Masimo in a research note on Thursday, April 10th. Raymond James Financial lowered their price objective on Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. BTIG Research reissued a "buy" rating on shares of Masimo in a report on Monday, July 14th. Finally, Wells Fargo & Company lowered their price target on Masimo from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $193.60.

Masimo Stock Up 1.6%

MASI stock traded up $2.36 during midday trading on Wednesday, hitting $147.26. The stock had a trading volume of 229,109 shares, compared to its average volume of 624,548. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of -17.28 and a beta of 1.21. The business has a 50-day moving average of $162.80 and a two-hundred day moving average of $164.85. Masimo has a 52-week low of $107.98 and a 52-week high of $194.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.14 and a quick ratio of 1.62.

Masimo (NASDAQ:MASI - Get Free Report) last announced its earnings results on Tuesday, August 5th. The medical equipment provider reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.11. The firm had revenue of $370.90 million for the quarter, compared to analysts' expectations of $368.65 million. Masimo had a negative net margin of 24.85% and a positive return on equity of 26.54%. The company's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 EPS. As a group, equities research analysts forecast that Masimo will post 4.1 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Bilal Muhsin sold 10,000 shares of Masimo stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $163.28, for a total value of $1,632,800.00. Following the completion of the sale, the chief operating officer directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. 9.70% of the stock is currently owned by insiders.

Institutional Trading of Masimo

A number of institutional investors have recently made changes to their positions in the stock. Twin Tree Management LP purchased a new stake in Masimo during the 1st quarter valued at $29,000. Farther Finance Advisors LLC grew its holdings 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 worth $35,000 after acquiring an additional 116 shares during the period. Hilltop National Bank purchased a new stake in Masimo during the second quarter valued at $37,000. Anderson Financial Strategies LLC bought a new position in Masimo in the first quarter valued at about $49,000. Finally, NBC Securities Inc. purchased a new position in Masimo in the first quarter worth about $61,000. 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.