Masimo (NASDAQ:MASI) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Masimo (NASDAQ:MASI) from a hold rating to a strong-buy rating in a report released on Wednesday morning,Zacks.com reports.

MASI has been the topic of several other research reports. Raymond James Financial lowered their price objective on shares of Masimo from $204.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. BTIG Research reissued a “buy” rating on shares of Masimo in a report on Thursday, August 14th. Piper Sandler increased their price objective on shares of Masimo from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. Wall Street Zen lowered shares of Masimo from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Finally, Wells Fargo & Company lowered their target price on Masimo from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $193.60.

Masimo Stock Up 2.9%

NASDAQ:MASI opened at $147.19 on Wednesday. The firm’s 50-day moving average price is $154.41 and its 200-day moving average price is $160.39. The company has a market capitalization of $8.00 billion, a PE ratio of -17.28 and a beta of 1.23. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.14 and a quick ratio of 1.61. Masimo has a 1-year low of $107.98 and a 1-year high of $194.88.

Masimo (NASDAQ:MASI) last announced its quarterly earnings results on Tuesday, August 5th. The medical equipment provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.11. The company had revenue of $370.90 million for the quarter, compared to analysts’ expectations of $368.65 million. Masimo had a negative net margin of 24.85% and a positive return on equity of 26.54%. Masimo’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 EPS. On average, equities analysts predict that Masimo will post 4.1 EPS for the current fiscal year.

Insider Buying and Selling at Masimo

In other Masimo news, Director William R. Jellison purchased 3,000 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were acquired at an average price of $145.98 per share, for a total transaction of $437,940.00. Following the completion of the purchase, the director owned 4,790 shares of the company’s stock, valued at approximately $699,244.20. The trade was a 167.60% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On Masimo

A number of institutional investors and hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of Masimo by 25.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,470,393 shares of the medical equipment provider’s stock worth $415,570,000 after purchasing an additional 502,555 shares during the period. T. Rowe Price Investment Management Inc. increased its position in shares of Masimo by 0.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,673,252 shares of the medical equipment provider’s stock valued at $278,764,000 after buying an additional 10,876 shares in the last quarter. State Street Corp increased its position in shares of Masimo by 0.7% in the second quarter. State Street Corp now owns 1,486,394 shares of the medical equipment provider’s stock valued at $250,041,000 after buying an additional 10,403 shares in the last quarter. Westfield Capital Management Co. LP increased its position in shares of Masimo by 75.9% during the second quarter. Westfield Capital Management Co. LP now owns 1,181,203 shares of the medical equipment provider’s stock worth $198,702,000 after purchasing an additional 509,724 shares in the last quarter. Finally, Durable Capital Partners LP increased its position in shares of Masimo by 3.4% during the second quarter. Durable Capital Partners LP now owns 1,163,898 shares of the medical equipment provider’s stock worth $195,791,000 after purchasing an additional 38,279 shares in the last quarter. 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.