Masimo (NASDAQ:MASI) Sees Large Volume Increase

Masimo Co. (NASDAQ:MASI) saw unusually-strong trading volume on Wednesday . Approximately 713,913 shares changed hands during trading, an increase of 25% from the previous session’s volume of 569,145 shares.The stock last traded at $97.41 and had previously closed at $98.47.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MASI shares. StockNews.com lowered Masimo from a “hold” rating to a “sell” rating in a research note on Wednesday. Raymond James decreased their price objective on Masimo from $198.00 to $142.00 and set an “outperform” rating on the stock in a report on Thursday, August 10th. Needham & Company LLC reiterated a “buy” rating and issued a $136.00 price objective on shares of Masimo in a report on Wednesday, August 9th. Wells Fargo & Company decreased their price target on Masimo from $126.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 9th. Finally, BTIG Research decreased their price target on Masimo from $200.00 to $153.00 in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $144.50.

Masimo Stock Up 1.0 %

The stock has a market cap of $5.41 billion, a PE ratio of 47.83 and a beta of 0.81. The firm has a fifty day moving average of $118.62 and a 200 day moving average of $154.58. The company has a quick ratio of 1.16, a current ratio of 2.11 and a debt-to-equity ratio of 0.68.

Masimo (NASDAQ:MASI) last announced its earnings results on Tuesday, August 8th. The medical equipment provider reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.24). Masimo had a return on equity of 15.79% and a net margin of 5.30%. The business had revenue of $455.30 million for the quarter, compared to analyst estimates of $478.27 million. During the same quarter last year, the company posted $1.35 EPS. Masimo’s quarterly revenue was down 19.5% on a year-over-year basis. On average, equities research analysts anticipate that Masimo Co. will post 3.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Masimo

A number of hedge funds have recently added to or reduced their stakes in MASI. National Bank of Canada FI acquired a new stake in shares of Masimo during the 2nd quarter valued at approximately $29,000. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Masimo during the 1st quarter valued at approximately $37,000. Belpointe Asset Management LLC acquired a new stake in shares of Masimo during the 4th quarter valued at approximately $38,000. Achmea Investment Management B.V. acquired a new stake in shares of Masimo during the 2nd quarter valued at approximately $39,000. Finally, Trivant Custom Portfolio Group LLC acquired a new stake in shares of Masimo during the 1st quarter valued at approximately $55,000. Institutional investors and hedge funds 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 O3 regional oximetry.