Wall Street Zen Downgrades Masimo (NASDAQ:MASI) to Hold

Masimo (NASDAQ:MASI) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other research analysts have also issued reports on the company. Zacks Research raised Masimo from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. Piper Sandler increased their price objective on Masimo from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. Finally, BTIG Research reissued a “buy” rating and issued a $198.00 price objective on shares of Masimo in a report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $194.60.

Masimo Trading Down 1.8%

Shares of NASDAQ:MASI opened at $140.43 on Friday. The business’s 50-day moving average is $150.14 and its 200 day moving average is $157.93. Masimo has a 1 year low of $113.54 and a 1 year high of $194.88. The firm has a market capitalization of $7.63 billion, a P/E ratio of -16.48 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 (NASDAQ:MASI) last announced its earnings results on Tuesday, August 5th. The medical equipment provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.11. Masimo had a positive return on equity of 26.54% and a negative net margin of 24.85%.The company had revenue of $370.90 million for the quarter, compared to analyst estimates of $368.65 million. During the same period in the prior year, the company posted $0.86 EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, research analysts predict that Masimo will post 4.1 earnings per share for the current fiscal year.

Insider Activity

In other news, Director William R. Jellison purchased 3,000 shares of the stock in a transaction dated Monday, August 11th. The shares were purchased at an average cost of $145.98 per share, with a total value of $437,940.00. Following the completion of the purchase, the director directly owned 4,790 shares of the company’s stock, valued at approximately $699,244.20. The trade was a 167.60% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 9.70% of the stock is owned by corporate insiders.

Institutional Trading of Masimo

A number of institutional investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its stake in shares of Masimo by 25.5% in 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 acquiring an additional 502,555 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake 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 worth $278,764,000 after acquiring an additional 10,876 shares during the last quarter. State Street Corp boosted its stake 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 worth $250,041,000 after acquiring an additional 10,403 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Masimo by 75.9% in 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 acquiring an additional 509,724 shares during the last quarter. Finally, Durable Capital Partners LP boosted its stake in shares of Masimo by 3.4% in 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 acquiring an additional 38,279 shares during the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.

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.