Wells Fargo & Company Cuts Masimo (NASDAQ:MASI) Price Target to $187.00

Masimo (NASDAQ:MASI) had its price objective lowered by Wells Fargo & Company from $190.00 to $187.00 in a report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the medical equipment provider’s stock.

A number of other research analysts also recently issued reports on the stock. Wall Street Zen upgraded shares of Masimo from a “hold” rating to a “buy” rating in a research report on Tuesday, October 14th. Weiss Ratings restated a “sell (d)” rating on shares of Masimo in a research note on Wednesday, October 8th. BTIG Research reaffirmed a “buy” rating and set a $198.00 target price on shares of Masimo in a report on Wednesday. Zacks Research downgraded Masimo from a “strong-buy” rating to a “hold” rating in a report on Friday, October 24th. Finally, Piper Sandler boosted their price objective on Masimo from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 6th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $194.00.

Masimo Stock Down 0.5%

Shares of Masimo stock opened at $143.16 on Wednesday. The business has a 50-day moving average price of $145.03 and a 200 day moving average price of $153.85. Masimo has a fifty-two week low of $133.70 and a fifty-two week high of $194.88. The firm has a market cap of $7.69 billion, a P/E ratio of -16.80 and a beta of 1.28. The company has a quick ratio of 1.61, a current ratio of 2.14 and a debt-to-equity ratio of 0.57.

Masimo (NASDAQ:MASI) last issued its quarterly earnings results on Thursday, June 20th. The medical equipment provider reported $1.42 earnings per share for the quarter. The business had revenue of $617.00 million during the quarter. Masimo had a positive return on equity of 26.54% and a negative net margin of 24.85%. On average, sell-side analysts forecast that Masimo will post 4.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director William R. Jellison acquired 3,000 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were bought at an average price of $145.98 per share, with a total value of $437,940.00. Following the purchase, the director owned 4,790 shares of the company’s stock, valued at approximately $699,244.20. This represents a 167.60% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Masimo

Large investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Masimo by 0.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,371 shares of the medical equipment provider’s stock worth $1,894,000 after purchasing an additional 66 shares during the period. Assetmark Inc. lifted its holdings in shares of Masimo by 5.0% in the second quarter. Assetmark Inc. now owns 1,539 shares of the medical equipment provider’s stock valued at $259,000 after purchasing an additional 73 shares in the last quarter. Xponance Inc. boosted its position in shares of Masimo by 1.1% in the first quarter. Xponance Inc. now owns 7,101 shares of the medical equipment provider’s stock worth $1,183,000 after buying an additional 76 shares during the period. Deutsche Bank AG grew its holdings in shares of Masimo by 1.5% during the first quarter. Deutsche Bank AG now owns 6,309 shares of the medical equipment provider’s stock valued at $1,051,000 after buying an additional 92 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Masimo by 0.8% during the first quarter. Louisiana State Employees Retirement System now owns 12,400 shares of the medical equipment provider’s stock valued at $2,066,000 after buying an additional 100 shares during the period. 85.96% of the stock is owned by institutional investors.

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.