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

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.

MASI has been the topic of several other research reports. Zacks Research raised Masimo from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. Piper Sandler lifted their target price on Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Finally, BTIG Research reissued a "buy" rating and issued a $198.00 price objective on shares of Masimo in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $194.60.

Masimo Stock Performance

Shares of MASI traded up $0.94 during mid-day trading on Friday, hitting $143.07. The stock had a trading volume of 63,275 shares, compared to its average volume of 632,097. Masimo has a fifty-two week low of $122.94 and a fifty-two week high of $194.88. The company has a market cap of $7.77 billion, a PE ratio of -16.79 and a beta of 1.23. 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 company's fifty day simple moving average is $149.74 and its two-hundred day simple moving average is $157.38.

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

Insider Buying and Selling at Masimo

In other Masimo news, Director William R. Jellison acquired 3,000 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was acquired at an average price of $145.98 per share, with a total value of $437,940.00. Following the transaction, the director owned 4,790 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 16.90% of the company's stock.

Hedge Funds Weigh In On Masimo

Several large investors have recently made changes to their positions in MASI. Twin Tree Management LP acquired a new position in Masimo in the 1st quarter valued at approximately $29,000. MAI Capital Management raised its holdings in Masimo by 176.7% in the 2nd quarter. MAI Capital Management now owns 202 shares of the medical equipment provider's stock valued at $34,000 after acquiring an additional 129 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Masimo by 128.9% in the 1st quarter. Farther Finance Advisors LLC now owns 206 shares of the medical equipment provider's stock valued at $35,000 after acquiring an additional 116 shares in the last quarter. Hilltop National Bank acquired a new position in Masimo in the 2nd quarter valued at approximately $37,000. Finally, Anderson Financial Strategies LLC acquired a new position in Masimo in the 1st quarter valued at approximately $49,000. Institutional investors and hedge funds 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.