Masimo (NASDAQ:MASI) Upgraded to "Buy" at Wall Street Zen

Key Points

• Masimo (NASDAQ:MASI) has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, indicating a positive shift in analyst sentiment.
• Piper Sandler increased its price target for Masimo from $200.00 to $210.00, contributing to an overall average price target of $194.60 among analysts.
• Insider trading activity includes Director William R. Jellison purchasing 3,000 shares at an average price of $145.98 per share, signaling confidence in the company's future prospects.

Masimo (NASDAQ:MASI - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Tuesday.

A number of other brokerages also recently issued reports on MASI. Piper Sandler increased their price target on shares of Masimo from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Weiss Ratings reissued a "sell (d)" rating on shares of Masimo in a report on Wednesday, October 8th. Zacks Research raised shares of Masimo from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Finally, BTIG Research reissued a "buy" rating and issued a $198.00 price target on shares of Masimo in a report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $194.60.

Masimo Price Performance

Shares of NASDAQ:MASI opened at $148.01 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 2.14 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $8.04 billion, a PE ratio of -17.37 and a beta of 1.28. Masimo has a twelve month low of $133.70 and a twelve month high of $194.88. The company has a 50-day moving average price of $145.76 and a two-hundred day moving average price of $155.04.

Masimo (NASDAQ:MASI - Get Free Report) last issued its earnings results on Thursday, June 20th. The medical equipment provider reported $1.42 earnings per share for the quarter. The firm had revenue of $617.00 million during the quarter. Masimo had a negative net margin of 24.85% and a positive return on equity of 26.54%. Equities analysts forecast that Masimo will post 4.1 EPS for the current year.

Insiders Place Their Bets

In related news, Director William R. Jellison bought 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 purchase, the director directly owned 4,790 shares of the company's stock, valued at $699,244.20. This trade represents a 167.60% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 16.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Masimo

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake in Masimo by 58.4% in the first quarter. GAMMA Investing LLC now owns 738 shares of the medical equipment provider's stock valued at $123,000 after purchasing an additional 272 shares in the last quarter. Strs Ohio purchased a new stake in Masimo in the first quarter valued at approximately $6,686,000. Swedbank AB purchased a new stake in Masimo in the first quarter valued at approximately $12,645,000. Harbor Capital Advisors Inc. purchased a new stake in Masimo in the second quarter valued at approximately $4,443,000. Finally, Intech Investment Management LLC raised its stake in Masimo by 26.8% in the first quarter. Intech Investment Management LLC now owns 32,494 shares of the medical equipment provider's stock valued at $5,414,000 after purchasing an additional 6,872 shares in the last quarter. 85.96% of the stock is owned by hedge funds and other institutional investors.

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.

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