Masimo (NASDAQ:MASI) Shares Gap Up to $137.92

Shares of Masimo Co. (NASDAQ:MASI) gapped up prior to trading on Monday . The stock had previously closed at $137.92, but opened at $142.14. Masimo shares last traded at $142.81, with a volume of 89,849 shares traded.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wells Fargo & Company upgraded shares of Masimo from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $117.00 to $160.00 in a research report on Monday, March 25th. Jefferies Financial Group reiterated a “hold” rating and set a $121.00 price target (up from $107.00) on shares of Masimo in a research report on Tuesday, January 30th. StockNews.com upgraded shares of Masimo from a “sell” rating to a “hold” rating in a research report on Friday, March 29th. Needham & Company LLC cut shares of Masimo from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, BTIG Research increased their price target on shares of Masimo from $145.00 to $166.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $137.43.

Masimo Stock Performance

The stock has a market cap of $7.31 billion, a PE ratio of 91.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.18 and a quick ratio of 1.22. The business has a 50 day moving average price of $135.58 and a two-hundred day moving average price of $113.53.

Masimo (NASDAQ:MASI) last released its quarterly earnings data on Tuesday, February 27th. The medical equipment provider reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.43. The firm had revenue of $548.90 million during the quarter, compared to analyst estimates of $545.69 million. Masimo had a return on equity of 13.77% and a net margin of 3.98%. The business’s quarterly revenue was down 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.32 earnings per share. As a group, equities research analysts forecast that Masimo Co. will post 3.51 EPS for the current fiscal year.

Institutional Trading of Masimo

Institutional investors have recently made changes to their positions in the stock. Eminence Capital LP purchased a new stake in shares of Masimo during the third quarter valued at approximately $90,859,000. Teachers Retirement System of The State of Kentucky lifted its stake in Masimo by 93.8% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 16,541 shares of the medical equipment provider’s stock worth $1,450,000 after acquiring an additional 8,004 shares during the period. Comerica Bank purchased a new stake in Masimo in the third quarter worth $8,454,000. Sei Investments Co. lifted its stake in Masimo by 224.5% in the third quarter. Sei Investments Co. now owns 183,940 shares of the medical equipment provider’s stock worth $16,128,000 after acquiring an additional 127,249 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new stake in Masimo in the third quarter worth $132,699,000. Hedge funds and other 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.