Masimo (NASDAQ:MASI) Given New $193.00 Price Target at Wells Fargo & Company

Masimo (NASDAQ:MASI) had its price target lifted by Wells Fargo & Company from $171.00 to $193.00 in a report issued on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the medical equipment provider’s stock.

Several other equities research analysts have also recently weighed in on the company. Stifel Nicolaus restated a “buy” rating and set a $190.00 target price (up from $170.00) on shares of Masimo in a report on Friday, November 22nd. BTIG Research increased their target price on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Piper Sandler increased their price objective on Masimo from $165.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Raymond James upgraded shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 target price on the stock in a report on Wednesday, November 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Masimo presently has an average rating of “Moderate Buy” and an average price target of $170.67.

Masimo Stock Performance

MASI traded down $0.16 during midday trading on Wednesday, reaching $174.22. The company had a trading volume of 6,649 shares, compared to its average volume of 663,709. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01. The stock has a market cap of $9.33 billion, a PE ratio of 120.26 and a beta of 1.01. Masimo has a 12-month low of $101.61 and a 12-month high of $178.87. The business has a 50-day moving average price of $155.66 and a two-hundred day moving average price of $132.50.

Masimo (NASDAQ:MASI) last announced its 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. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The company had revenue of $504.60 million during the quarter, compared to analyst estimates of $502.87 million. During the same period in the previous year, the business earned $0.63 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts expect that Masimo will post 4.03 earnings per share for the current fiscal year.

Institutional Trading of Masimo

Hedge funds have recently bought and sold shares of the stock. Edgestream Partners L.P. bought a new stake in Masimo in the second quarter worth about $645,000. Simplify Asset Management Inc. boosted its stake in shares of Masimo by 120.4% during the second quarter. Simplify Asset Management Inc. now owns 21,670 shares of the medical equipment provider’s stock valued at $2,729,000 after purchasing an additional 11,838 shares during the period. ING Groep NV increased its stake in Masimo by 143.3% in the 3rd quarter. ING Groep NV now owns 240,900 shares of the medical equipment provider’s stock worth $32,119,000 after buying an additional 141,900 shares during the period. Westfield Capital Management Co. LP lifted its holdings in Masimo by 23.2% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,394,056 shares of the medical equipment provider’s stock valued at $185,869,000 after buying an additional 262,370 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in Masimo by 42.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,217,357 shares of the medical equipment provider’s stock worth $153,314,000 after acquiring an additional 360,497 shares in the last quarter. 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.