Masimo (NASDAQ:MASI) Raised to “Outperform” at Raymond James

Raymond James upgraded shares of Masimo (NASDAQ:MASI) from a market perform rating to an outperform rating in a research note issued to investors on Wednesday morning, Marketbeat.com reports. Raymond James currently has $170.00 target price on the medical equipment provider’s stock.

Several other analysts have also recently issued reports on the company. BTIG Research raised their target price on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a report on Friday, September 20th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Masimo in a research note on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $152.57.

Masimo Price Performance

Shares of NASDAQ MASI traded up $0.28 during mid-day trading on Wednesday, reaching $167.91. 41,056 shares of the company were exchanged, compared to its average volume of 679,530. The stock has a market capitalization of $8.93 billion, a PE ratio of 114.03 and a beta of 0.97. The company has a quick ratio of 1.15, a current ratio of 2.09 and a debt-to-equity ratio of 0.55. Masimo has a 52 week low of $75.36 and a 52 week high of $173.90. The company’s 50 day moving average price is $131.74 and its 200 day moving average price is $125.64.

Masimo (NASDAQ:MASI) last announced its quarterly earnings data on Tuesday, November 5th. The medical equipment provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.84 by $0.14. The firm had revenue of $504.60 million for the quarter, compared to analyst estimates of $502.87 million. Masimo had a return on equity of 14.07% and a net margin of 3.94%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.63 EPS. Sell-side analysts forecast that Masimo will post 3.88 earnings per share for the current fiscal year.

Institutional Trading of Masimo

Institutional investors and hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Masimo by 33.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,196 shares of the medical equipment provider’s stock worth $6,196,000 after acquiring an additional 10,683 shares during the period. Texas Permanent School Fund Corp raised its position in shares of Masimo by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 38,847 shares of the medical equipment provider’s stock valued at $5,705,000 after buying an additional 547 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Masimo during the first quarter valued at approximately $217,000. Qsemble Capital Management LP purchased a new position in shares of Masimo in the first quarter worth $245,000. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Masimo by 11.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 54,839 shares of the medical equipment provider’s stock worth $8,053,000 after acquiring an additional 5,688 shares during the last quarter. 85.96% of the stock is currently owned by 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.