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

Key Points

• Wall Street Zen has downgraded Masimo (NASDAQ:MASI) from a "buy" rating to a "hold" rating, which signals a more cautious outlook for the company's stock.
• Despite the downgrade, other analysts like Zacks and Piper Sandler have shown confidence in Masimo by issuing a "strong-buy" rating and increasing their price target, respectively.
• Masimo recently reported earnings of $1.33 per share, surpassing estimates, and has experienced a 7.7% increase in revenue compared to the previous year.

Wall Street Zen downgraded shares of Masimo (NASDAQ:MASI - Free Report) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

Several other research firms have also weighed in on MASI. BTIG Research restated a "buy" rating and set a $198.00 target price on shares of Masimo in a report on Thursday, September 11th. Zacks Research upgraded Masimo from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. Finally, Piper Sandler lifted their price objective on Masimo from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Masimo currently has an average rating of "Buy" and an average price target of $194.60.

Masimo Stock Performance

MASI stock traded up $1.24 on Friday, reaching $141.67. The company's stock had a trading volume of 186,275 shares, compared to its average volume of 634,092. Masimo has a 52 week low of $119.73 and a 52 week high of $194.88. The company has a market capitalization of $7.70 billion, a P/E ratio of -16.65 and a beta of 1.23. The firm has a fifty day moving average of $150.14 and a two-hundred day moving average of $157.61. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.14 and a quick ratio of 1.61.

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

Insider Activity

In related news, Director William R. Jellison bought 3,000 shares of Masimo stock in a transaction that occurred on Monday, August 11th. The stock was purchased at an average cost of $145.98 per share, with a total value of $437,940.00. Following the purchase, the director owned 4,790 shares in the company, valued at approximately $699,244.20. This trade represents a 167.60% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 16.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Masimo

Several institutional investors and hedge funds have recently added to or reduced their stakes in MASI. Orion Porfolio Solutions LLC raised its holdings in Masimo by 2.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 4,871 shares of the medical equipment provider's stock valued at $819,000 after acquiring an additional 104 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Masimo by 1.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 10,596 shares of the medical equipment provider's stock worth $1,782,000 after acquiring an additional 177 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Masimo by 12.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,516 shares of the medical equipment provider's stock valued at $255,000 after buying an additional 166 shares in the last quarter. Bellevue Group AG raised its stake in shares of Masimo by 28.5% during the second quarter. Bellevue Group AG now owns 89,673 shares of the medical equipment provider's stock valued at $15,085,000 after acquiring an additional 19,865 shares during the last quarter. Finally, Bamco Inc. NY grew its holdings in Masimo by 21.2% in the second quarter. Bamco Inc. NY now owns 384,589 shares of the medical equipment provider's stock worth $64,696,000 after purchasing an additional 67,307 shares during the period. 85.96% of the stock is owned by institutional investors.

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.