Raymond James Raises Masimo (NASDAQ:MASI) Price Target to $250.00

Masimo (NASDAQ:MASI) had its price target lifted by Raymond James from $235.00 to $250.00 in a report published on Wednesday, BenzingaRatingsTable reports. Raymond James currently has an outperform rating on the medical equipment provider’s stock.

MASI has been the topic of several other research reports. BidaskClub upgraded shares of Masimo from a hold rating to a buy rating in a research note on Wednesday, July 8th. UBS Group lifted their price target on shares of Masimo from $207.00 to $245.00 and gave the stock a buy rating in a research note on Thursday, April 30th. ValuEngine cut shares of Masimo from a buy rating to a hold rating in a research note on Friday, May 1st. Needham & Company LLC cut shares of Masimo from a buy rating to a hold rating in a research note on Monday, April 20th. Finally, Stifel Nicolaus lifted their target price on shares of Masimo from $200.00 to $245.00 and gave the company a buy rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. Masimo presently has an average rating of Buy and a consensus price target of $216.14.

Shares of MASI traded up $0.02 on Wednesday, hitting $220.12. 465,121 shares of the stock traded hands, compared to its average volume of 471,265. Masimo has a one year low of $139.36 and a one year high of $258.00. The business has a 50 day simple moving average of $228.29 and a 200 day simple moving average of $202.59. The company has a market capitalization of $12.10 billion, a PE ratio of 57.03, a P/E/G ratio of 4.11 and a beta of 0.92.

Masimo (NASDAQ:MASI) last issued its earnings results on Tuesday, July 28th. The medical equipment provider reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.07. Masimo had a net margin of 21.22% and a return on equity of 16.49%. The company had revenue of $301.00 million for the quarter, compared to analysts’ expectations of $290.09 million. During the same quarter last year, the company posted $0.76 earnings per share. The firm’s quarterly revenue was up 30.9% on a year-over-year basis. On average, equities research analysts forecast that Masimo will post 2.74 earnings per share for the current year.

In other news, insider Jon Coleman sold 1,250 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $235.00, for a total value of $293,750.00. Following the sale, the insider now directly owns 13,715 shares in the company, valued at approximately $3,223,025. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Adam Mikkelson sold 1,498 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $216.01, for a total transaction of $323,582.98. Following the completion of the sale, the director now owns 2,802 shares in the company, valued at $605,260.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,335 shares of company stock worth $749,625. 11.50% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank boosted its stake in shares of Masimo by 8.7% during the 2nd quarter. Comerica Bank now owns 33,389 shares of the medical equipment provider’s stock worth $8,024,000 after purchasing an additional 2,673 shares during the period. Prudential PLC purchased a new position in shares of Masimo during the 2nd quarter worth about $2,164,000. Signaturefd LLC boosted its stake in shares of Masimo by 14.3% during the 2nd quarter. Signaturefd LLC now owns 521 shares of the medical equipment provider’s stock worth $119,000 after purchasing an additional 65 shares during the period. State of Michigan Retirement System boosted its position in Masimo by 33.6% in the 2nd quarter. State of Michigan Retirement System now owns 18,166 shares of the medical equipment provider’s stock valued at $4,142,000 after buying an additional 4,566 shares during the period. Finally, M&T Bank Corp boosted its position in Masimo by 38.5% in the 2nd quarter. M&T Bank Corp now owns 1,831 shares of the medical equipment provider’s stock valued at $417,000 after buying an additional 509 shares during the period. 84.39% of the stock is owned by hedge funds and other institutional investors.

Masimo Company Profile

Masimo Corporation, a medical technology company, develops, manufactures, and markets noninvasive monitoring technologies 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.

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Analyst Recommendations for Masimo (NASDAQ:MASI)

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