Masimo (NASDAQ:MASI) Shares Gap Down Following Analyst Downgrade

Masimo Co. (NASDAQ:MASI - Get Free Report) gapped down prior to trading on Wednesday after Wells Fargo & Company lowered their price target on the stock from $205.00 to $190.00. The stock had previously closed at $161.47, but opened at $143.57. Wells Fargo & Company currently has an overweight rating on the stock. Masimo shares last traded at $147.85, with a volume of 420,465 shares changing hands.

Other research analysts also recently issued reports about the company. Needham & Company LLC reissued a "hold" rating on shares of Masimo in a research note on Thursday, April 10th. Piper Sandler boosted their price target on Masimo from $210.00 to $215.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $191.80.

Insiders Place Their Bets

In related news, Director Craig B. Reynolds sold 2,053 shares of Masimo stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $166.13, for a total value of $341,064.89. Following the sale, the director now owns 16,581 shares of the company's stock, valued at approximately $2,754,601.53. The trade was a 11.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Bilal Muhsin sold 30,000 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $167.49, for a total value of $5,024,700.00. Following the transaction, the chief operating officer now owns 24,172 shares of the company's stock, valued at $4,048,568.28. The trade was a 55.38 % decrease in their position. The disclosure for this sale can be found here. 9.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Neo Ivy Capital Management bought a new position in Masimo during the first quarter valued at approximately $1,707,000. Assetmark Inc. boosted its holdings in shares of Masimo by 25.7% during the first quarter. Assetmark Inc. now owns 1,466 shares of the medical equipment provider's stock worth $244,000 after purchasing an additional 300 shares during the period. Legato Capital Management LLC bought a new stake in shares of Masimo in the first quarter worth about $874,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Masimo during the 1st quarter valued at approximately $1,067,000. Finally, Choreo LLC purchased a new stake in Masimo in the 1st quarter worth approximately $239,000. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Masimo Trading Down 7.6 %

The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01. The stock has a market capitalization of $8.06 billion, a P/E ratio of 102.31 and a beta of 1.23. The stock has a 50-day moving average price of $163.69 and a two-hundred day moving average price of $166.54.

Masimo (NASDAQ:MASI - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The medical equipment provider reported $1.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.24 by $0.12. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The business had revenue of $372.00 million for the quarter, compared to the consensus estimate of $367.79 million. During the same period in the previous year, the firm earned $0.77 EPS. The company's quarterly revenue was down 24.5% compared to the same quarter last year. On average, research analysts forecast that Masimo Co. will post 4.1 EPS for the current fiscal year.

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.

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