Masimo (NASDAQ:MASI) Reaches New 12-Month High – What’s Next?

Masimo Co. (NASDAQ:MASI) shares reached a new 52-week high on Friday . The stock traded as high as $174.26 and last traded at $173.91, with a volume of 338885 shares traded. The stock had previously closed at $169.12.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MASI shares. Wells Fargo & Company increased their price target on shares of Masimo from $160.00 to $171.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Piper Sandler increased their price target on shares of Masimo from $165.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. BTIG Research increased their price objective on shares of Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Raymond James raised shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price objective for the company in a research note on Wednesday, November 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Masimo in a research note on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $167.00.

Masimo Stock Up 2.3 %

The company has a market capitalization of $9.26 billion, a PE ratio of 119.28 and a beta of 0.97. The company’s 50 day moving average is $143.48 and its two-hundred day moving average is $128.00. The company has a quick ratio of 1.11, a current ratio of 2.01 and a debt-to-equity ratio of 0.50.

Masimo (NASDAQ:MASI) last posted its earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.14. The company had revenue of $504.60 million during the quarter, compared to analysts’ expectations of $502.87 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. Masimo’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the company posted $0.63 earnings per share. On average, analysts anticipate that Masimo Co. will post 4.04 earnings per share for the current year.

Hedge Funds Weigh In On Masimo

Institutional investors have recently bought and sold shares of the business. Edgestream Partners L.P. bought a new position in Masimo during the second quarter valued at $645,000. Simplify Asset Management Inc. lifted its holdings in shares of Masimo by 120.4% in the 2nd quarter. Simplify Asset Management Inc. now owns 21,670 shares of the medical equipment provider’s stock worth $2,729,000 after acquiring an additional 11,838 shares during the last quarter. ING Groep NV lifted its holdings in shares of Masimo by 143.3% in the 3rd quarter. ING Groep NV now owns 240,900 shares of the medical equipment provider’s stock worth $32,119,000 after acquiring an additional 141,900 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Masimo by 32.1% in the 1st quarter. Advisors Asset Management Inc. now owns 9,009 shares of the medical equipment provider’s stock worth $1,323,000 after acquiring an additional 2,187 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Masimo by 42.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,217,357 shares of the medical equipment provider’s stock worth $153,314,000 after acquiring an additional 360,497 shares during the last quarter. 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.