Masimo (NASDAQ:MASI) Price Target Raised to $171.00 at Wells Fargo & Company

Masimo (NASDAQ:MASI) had its price objective lifted by Wells Fargo & Company from $160.00 to $171.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the medical equipment provider’s stock.

MASI has been the subject of a number of other reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a report on Wednesday. Piper Sandler upped their target price on Masimo from $165.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday. Raymond James upgraded Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price target for the company in a research report on Wednesday. Finally, BTIG Research boosted their price objective on shares of Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Masimo has an average rating of “Moderate Buy” and a consensus price target of $152.57.

Masimo Stock Up 0.2 %

Shares of NASDAQ:MASI traded up $0.28 during trading hours on Wednesday, reaching $167.91. The stock had a trading volume of 41,056 shares, compared to its average volume of 679,530. The firm’s 50 day moving average is $131.74 and its 200-day moving average is $125.64. The stock has a market capitalization of $8.93 billion, a price-to-earnings ratio of 114.03 and a beta of 0.97. Masimo has a 1 year low of $75.36 and a 1 year high of $173.90. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 2.09.

Masimo (NASDAQ:MASI) last posted its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.14. The firm had revenue of $504.60 million during the quarter, compared to analysts’ expectations of $502.87 million. Masimo had a net margin of 3.94% and a return on equity of 14.07%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share. Research analysts predict that Masimo will post 3.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. NBC Securities Inc. increased its position in Masimo by 47.1% in the third quarter. NBC Securities Inc. now owns 228 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 73 shares during the period. GAMMA Investing LLC increased its holdings in shares of Masimo by 75.0% in the 2nd quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider’s stock worth $33,000 after acquiring an additional 111 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Masimo by 133.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 350 shares of the medical equipment provider’s stock valued at $44,000 after purchasing an additional 200 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Masimo by 5,730.0% during the 1st quarter. Lazard Asset Management LLC now owns 583 shares of the medical equipment provider’s stock valued at $85,000 after purchasing an additional 573 shares during the period. Finally, HHM Wealth Advisors LLC grew its position in Masimo by 25.0% in the 2nd quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider’s stock worth $79,000 after purchasing an additional 125 shares during the last quarter. 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.