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 changing hands.

Wall Street Analysts Forecast Growth

Several research firms have commented on MASI. BTIG Research raised their target price on shares of Masimo from $145.00 to $166.00 and gave the company a “buy” rating in a report on Monday, March 25th. Wells Fargo & Company raised shares of Masimo from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $117.00 to $160.00 in a report on Monday, March 25th. Jefferies Financial Group reissued a “hold” rating and issued a $121.00 target price (up from $107.00) on shares of Masimo in a report on Tuesday, January 30th. Piper Sandler raised their target price on shares of Masimo from $70.00 to $117.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Finally, Stifel Nicolaus raised shares of Masimo from a “hold” rating to a “buy” rating and raised their target price for the company from $148.00 to $170.00 in a report on Monday. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $137.43.

Masimo Stock Up 0.1 %

The company has a market capitalization of $7.31 billion, a P/E ratio of 91.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.22 and a current ratio of 2.18. The firm’s fifty day moving average is $135.58 and its 200-day moving average is $113.53.

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

Institutional Investors Weigh In On Masimo

Several hedge funds have recently added to or reduced their stakes in MASI. American Century Companies Inc. boosted its position in Masimo by 2.3% during the 1st quarter. American Century Companies Inc. now owns 8,799 shares of the medical equipment provider’s stock worth $1,281,000 after buying an additional 194 shares during the period. Great West Life Assurance Co. Can boosted its position in Masimo by 24.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 59,540 shares of the medical equipment provider’s stock worth $9,049,000 after buying an additional 11,543 shares during the period. Dimensional Fund Advisors LP boosted its position in Masimo by 3.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 226,526 shares of the medical equipment provider’s stock worth $32,977,000 after buying an additional 8,501 shares during the period. Canada Pension Plan Investment Board boosted its position in Masimo by 1,011.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,390 shares of the medical equipment provider’s stock worth $348,000 after buying an additional 2,175 shares during the period. Finally, Vanguard Group Inc. boosted its position in Masimo by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 4,775,660 shares of the medical equipment provider’s stock worth $695,050,000 after buying an additional 71,918 shares during the period. 85.96% of the stock is currently 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.