Masimo (NASDAQ:MASI) Price Target Cut to $190.00 by Analysts at Wells Fargo & Company

Masimo (NASDAQ:MASI - Free Report) had its price target reduced by Wells Fargo & Company from $205.00 to $190.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the medical equipment provider's stock.

Several other research firms have also commented on MASI. Needham & Company LLC reissued a "hold" rating on shares of Masimo in a report on Thursday, April 10th. Piper Sandler lifted their price objective on shares of Masimo from $210.00 to $215.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Masimo has an average rating of "Moderate Buy" and a consensus target price of $191.60.

Masimo Stock Performance

MASI traded up $6.41 during trading on Wednesday, hitting $162.98. The stock had a trading volume of 290,006 shares, compared to its average volume of 658,994. The company has a 50 day simple moving average of $161.66 and a 200-day simple moving average of $166.94. Masimo has a 12 month low of $101.61 and a 12 month high of $194.88. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The firm has a market cap of $8.84 billion, a PE ratio of 112.47 and a beta of 1.23.

Masimo (NASDAQ:MASI - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The medical equipment provider reported $1.36 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 firm had revenue of $372.00 million for the quarter, compared to analyst estimates of $367.79 million. During the same period in the previous year, the business earned $0.77 earnings per share. The company's revenue for the quarter was down 24.5% compared to the same quarter last year. Analysts expect that Masimo will post 4.1 EPS for the current year.

Insider Transactions at Masimo

In related news, COO Bilal Muhsin sold 30,000 shares of Masimo stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 24,172 shares in the company, valued at approximately $4,048,568.28. This trade represents a 55.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig B. Reynolds sold 2,053 shares of Masimo stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $166.13, for a total value of $341,064.89. Following the transaction, the director now directly owns 16,581 shares in the company, valued at approximately $2,754,601.53. The trade was a 11.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.70% of the company's stock.

Hedge Funds Weigh In On Masimo

Several large investors have recently modified their holdings of MASI. Jones Financial Companies Lllp purchased a new stake in shares of Masimo during the 4th quarter worth $27,000. UMB Bank n.a. raised its stake in Masimo by 180.9% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the medical equipment provider's stock valued at $32,000 after buying an additional 123 shares during the last quarter. Trust Co. of Vermont acquired a new position in shares of Masimo in the fourth quarter valued at about $33,000. Blue Trust Inc. grew its holdings in Masimo by 56.3% during the fourth quarter. Blue Trust Inc. now owns 197 shares of the medical equipment provider's stock worth $33,000 after acquiring an additional 71 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in Masimo by 128.9% during the first quarter. Farther Finance Advisors LLC now owns 206 shares of the medical equipment provider's stock worth $35,000 after acquiring an additional 116 shares during the period. Institutional investors own 85.96% of the company's stock.

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.