The stock of Masimo Corporation (NASDAQ:MASI) is now priced at $236.4 and the shares are 1.91 points up or 0.81% higher compared to its previous closing price of $234.49. The stock had 260240 contracts set over the past session. MASI shares’ daily volume is compared to its average trading volume at 680582 shares. However, it has a float of 49.9 million and although its performance was 2.85% over the week, it’s one to watch. Analysts have given the MASI stock a yearly average price target of $246.75 per share. It means the stock’s upside potential is 4.38% with the MASI share price recently placing at $232.29 to $238.
The shorts are climbing into the Masimo Corporation stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the MASI shares have risen. Short interest in the stock represents just 3.4% of its float, but the volume has raised by 182625. The volume of shorted shares rised to 1.696 million from 1.514 million shares over the last two weeks. The average intraday trading volume has been 652761 shares, which means that days to cover moved to roughly 2.598804.
In the last trading session, Masimo Corporation (NASDAQ:MASI) raised by $6.19 over the week and gained $10.2 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $258. The stock recorded its established 52-week high on 05/12/20.
Since 09/10/19, the stock has traded to a low of $139.36 at 69.63%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.92. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Masimo Corporation’s two-week RSI is 56.99. This suggests that the stock is neutral at the moment and that MASI shares’ price movement remains stable. The stochastic readings are equally revealing at 77.65% meaning the MASI share price is currently in oversold territory.
The technical chart shows that the MASI stock will likely settle at between $237.56 and $240.64 per share. However, if the stock dips below $231.85, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $229.22.
Currently, the stock is trading in the green of MACD, with a reading of 5.26. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Needham cut their recommendation for MASI from Buy to Hold in April 20 review. Raymond James analysts upgraded their recommendation of the stock from Mkt Perform to Outperform while keeping its target price at $183 in a flash note released to investors on March 02. Needham analysts see the stock as Buy. Nonetheless, the analysts revised the share prices up on May 07, placing it at $158 from $155.
The average rating for the MASI equity is 2.17 and is currently gathering a bullish momentum. Of 6 analysts tracking Masimo Corporation polled by Reuters, 2 rated MASI as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (4) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the MASI stock price is 57.6X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 63.5 above the group’s average of 56.6. Masimo Corporation has its P/E ratio at 10.1, which means that the stock is currently trading at a premium relative to the 5.1 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Masimo Corporation (NASDAQ:MASI) will decrease by about -99.89%, which will see them reach $290.09 million. The company’s full-year revenues are, however, expected to increase by about 14.09%, up from $937.84 million to $1070 million. MASI’s expected adjusted earnings should surge almost 6.58% to end up at $0.81 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 5.28% to record $3.39/share.