Masimo (NASDAQ:MASI) Shares Gap Up to $137.92

Masimo Co. (NASDAQ:MASI - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $137.92, but opened at $142.14. Masimo shares last traded at $142.81, with a volume of 89,849 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Needham & Company LLC cut Masimo from a "buy" rating to a "hold" rating in a research note on Wednesday, January 3rd. Wells Fargo & Company upgraded Masimo from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $117.00 to $160.00 in a research note on Monday, March 25th. Piper Sandler upped their price target on Masimo from $70.00 to $117.00 and gave the stock a "neutral" rating in a research note on Monday, February 26th. Stifel Nicolaus upgraded Masimo from a "hold" rating to a "buy" rating and upped their price target for the stock from $148.00 to $170.00 in a research note on Monday. Finally, BTIG Research increased their price objective on Masimo from $145.00 to $166.00 and gave the company a "buy" rating in a research note on Monday, March 25th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $137.43.

Masimo Stock Performance

The firm has a market capitalization of $7.31 billion, a price-to-earnings ratio of 91.46 and a beta of 0.97. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.18 and a quick ratio of 1.22. The firm has a 50 day moving average price of $135.48 and a 200-day moving average price of $113.18.

Masimo (NASDAQ:MASI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The medical equipment provider reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.43. Masimo had a return on equity of 13.77% and a net margin of 3.98%. The company had revenue of $548.90 million for the quarter, compared to analysts' expectations of $545.69 million. During the same period last year, the firm earned $1.32 earnings per share. Masimo's quarterly revenue was down 11.0% on a year-over-year basis. As a group, sell-side analysts expect that Masimo Co. will post 3.51 earnings per share for the current fiscal year.

Institutional Trading of Masimo

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Riverview Trust Co purchased a new position in shares of Masimo during the first quarter worth about $25,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of Masimo by 140.6% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 243 shares of the medical equipment provider's stock worth $28,000 after purchasing an additional 142 shares during the last quarter. Byrne Asset Management LLC purchased a new position in shares of Masimo during the fourth quarter worth about $28,000. DHJJ Financial Advisors Ltd. purchased a new position in shares of Masimo during the third quarter worth about $32,000. Finally, NBC Securities Inc. purchased a new position in shares of Masimo during the third quarter worth about $34,000. 85.96% of the stock is currently owned by institutional investors and hedge funds.

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.