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

Masimo (NASDAQ:MASI) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other equities analysts have also issued reports on MASI. Piper Sandler reissued an “overweight” rating and set a $200.00 price target (down from $215.00) on shares of Masimo in a research report on Wednesday, May 7th. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a report on Thursday, April 10th. BTIG Research set a $193.00 target price on shares of Masimo and gave the company a “buy” rating in a research report on Wednesday, May 7th. Wells Fargo & Company cut their price target on Masimo from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 7th. Finally, Raymond James reduced their price objective on Masimo from $204.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.60.

Masimo Stock Performance

Shares of MASI stock opened at $161.36 on Friday. The business has a fifty day moving average of $157.13 and a 200 day moving average of $167.19. Masimo has a 1 year low of $101.61 and a 1 year high of $194.88. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11. The firm has a market capitalization of $8.75 billion, a price-to-earnings ratio of 111.28 and a beta of 1.23.

Masimo (NASDAQ:MASI) last announced its quarterly earnings data on Tuesday, May 6th. The medical equipment provider reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.12. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The firm had revenue of $372.00 million during the quarter, compared to analysts’ expectations of $367.79 million. During the same period last year, the business posted $0.77 earnings per share. The company’s revenue for the quarter was down 24.5% compared to the same quarter last year. As a group, research analysts expect that Masimo will post 4.1 earnings per share for the current year.

Insider Activity at Masimo

In other news, Director Craig B. Reynolds sold 2,053 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $166.13, for a total transaction of $341,064.89. Following the sale, the director now directly owns 16,581 shares in the company, valued at $2,754,601.53. This trade represents a 11.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Bilal Muhsin sold 30,000 shares of the company’s 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 transaction, the chief operating officer now directly owns 24,172 shares of the company’s stock, valued at $4,048,568.28. The trade was a 55.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,053 shares of company stock worth $6,998,565 in the last three months. Company insiders own 9.70% of the company’s stock.

Institutional Trading of Masimo

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. grew its stake in Masimo by 17.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 31,107 shares of the medical equipment provider’s stock valued at $5,142,000 after acquiring an additional 4,579 shares during the period. Lecap Asset Management Ltd. purchased a new position in Masimo during the fourth quarter valued at $1,607,000. Trust Point Inc. acquired a new stake in shares of Masimo in the fourth quarter valued at about $230,000. Barclays PLC increased its stake in shares of Masimo by 152.6% during the third quarter. Barclays PLC now owns 39,957 shares of the medical equipment provider’s stock worth $5,329,000 after purchasing an additional 24,137 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Masimo by 1,936.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 48,764 shares of the medical equipment provider’s stock worth $8,220,000 after purchasing an additional 46,370 shares in the last quarter. 85.96% of the stock is currently owned by hedge funds and other 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.