Masimo (NASDAQ:MASI) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Masimo (NASDAQ:MASI) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

MASI has been the topic of several other research reports. Needham & Company LLC reissued a buy rating and issued a $136.00 target price on shares of Masimo in a report on Wednesday, August 9th. Wells Fargo & Company lowered their target price on shares of Masimo from $126.00 to $110.00 and set an equal weight rating on the stock in a report on Wednesday, August 9th. Stifel Nicolaus downgraded shares of Masimo from a buy rating to a hold rating and decreased their price target for the company from $205.00 to $120.00 in a research note on Tuesday, July 18th. Raymond James decreased their price target on shares of Masimo from $198.00 to $142.00 and set an outperform rating on the stock in a research note on Thursday, August 10th. Finally, BTIG Research decreased their price target on shares of Masimo from $200.00 to $153.00 in a research note on Tuesday, July 18th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $151.33.

Masimo Trading Down 0.6 %

Shares of Masimo stock opened at $112.88 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.16 and a current ratio of 2.11. Masimo has a fifty-two week low of $105.50 and a fifty-two week high of $198.00. The company has a fifty day moving average of $126.62 and a 200 day moving average of $157.42. The company has a market capitalization of $5.96 billion, a P/E ratio of 52.75 and a beta of 0.81.

Masimo (NASDAQ:MASI) last released its earnings results on Tuesday, August 8th. The medical equipment provider reported $0.62 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.24). Masimo had a return on equity of 15.79% and a net margin of 5.30%. The company had revenue of $455.30 million during the quarter, compared to analysts’ expectations of $478.27 million. During the same period last year, the firm posted $1.35 EPS. Masimo’s quarterly revenue was down 19.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Masimo will post 3.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Masimo

Hedge funds and other institutional investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale increased its holdings in Masimo by 14.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 63,060 shares of the medical equipment provider’s stock worth $11,131,000 after purchasing an additional 7,954 shares during the period. Renaissance Technologies LLC increased its position in Masimo by 275.9% during the 4th quarter. Renaissance Technologies LLC now owns 179,700 shares of the medical equipment provider’s stock valued at $26,587,000 after purchasing an additional 131,900 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Masimo by 3.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 2,923 shares of the medical equipment provider’s stock valued at $539,000 after purchasing an additional 100 shares in the last quarter. Victory Capital Management Inc. raised its stake in Masimo by 100.8% in the first quarter. Victory Capital Management Inc. now owns 20,192 shares of the medical equipment provider’s stock worth $3,726,000 after buying an additional 10,135 shares in the last quarter. Finally, Forte Capital LLC ADV lifted its holdings in Masimo by 1.5% during the first quarter. Forte Capital LLC ADV now owns 35,284 shares of the medical equipment provider’s stock worth $6,511,000 after buying an additional 536 shares during the period. 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 O3 regional oximetry.