Piper Sandler Increases Masimo (NASDAQ:MASI) Price Target to $126.00

Masimo (NASDAQ:MASI) had its price objective increased by stock analysts at Piper Sandler from $117.00 to $126.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the medical equipment provider’s stock. Piper Sandler’s price target would indicate a potential upside of 1.48% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the stock. BTIG Research increased their target price on shares of Masimo from $145.00 to $166.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Stifel Nicolaus upgraded Masimo from a “hold” rating to a “buy” rating and increased their price objective for the stock from $148.00 to $170.00 in a research note on Monday, April 15th. Needham & Company LLC restated a “hold” rating on shares of Masimo in a research report on Wednesday. StockNews.com raised Masimo from a “sell” rating to a “hold” rating in a research note on Friday, March 29th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $121.00 target price (up from $107.00) on shares of Masimo in a research note on Tuesday, January 30th. 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, Masimo currently has an average rating of “Hold” and an average price target of $138.71.

Masimo Trading Up 3.4 %

NASDAQ:MASI opened at $124.16 on Wednesday. The stock’s 50 day moving average price is $136.10 and its 200 day moving average price is $119.62. Masimo has a 52 week low of $75.22 and a 52 week high of $176.29. The company has a market capitalization of $6.57 billion, a P/E ratio of 82.23 and a beta of 0.99. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.22 and a current ratio of 2.18.

Masimo (NASDAQ:MASI) last posted its earnings results on Tuesday, May 7th. The medical equipment provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.06. Masimo had a return on equity of 13.77% and a net margin of 3.98%. The firm had revenue of $492.80 million during the quarter, compared to analyst estimates of $487.70 million. During the same period in the previous year, the company earned $0.87 EPS. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. On average, research analysts forecast that Masimo will post 3.51 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Craig B. Reynolds sold 40,000 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $136.17, for a total value of $5,446,800.00. Following the completion of the sale, the director now owns 7,406 shares of the company’s stock, valued at approximately $1,008,475.02. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 9.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MASI. State of Michigan Retirement System grew its position in shares of Masimo by 0.9% in the fourth quarter. State of Michigan Retirement System now owns 10,696 shares of the medical equipment provider’s stock valued at $1,254,000 after purchasing an additional 100 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Masimo by 140.6% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 243 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 142 shares in the last quarter. Parallel Advisors LLC increased its position in Masimo by 48.3% during the 4th quarter. Parallel Advisors LLC now owns 445 shares of the medical equipment provider’s stock worth $52,000 after buying an additional 145 shares during the period. CWM LLC boosted its position in shares of Masimo by 13.5% in the fourth quarter. CWM LLC now owns 1,318 shares of the medical equipment provider’s stock valued at $154,000 after acquiring an additional 157 shares during the period. Finally, Riverview Trust Co acquired a new position in shares of Masimo in the first quarter valued at about $25,000. 85.96% of the stock is owned by institutional investors and hedge funds.

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.