Algert Global LLC Grows Holdings in Masimo Co. (NASDAQ:MASI)

Algert Global LLC boosted its stake in shares of Masimo Co. (NASDAQ:MASI - Free Report) by 37.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,139 shares of the medical equipment provider's stock after buying an additional 5,260 shares during the period. Algert Global LLC's holdings in Masimo were worth $2,552,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MASI. NBC Securities Inc. increased its holdings in shares of Masimo by 47.1% during the third quarter. NBC Securities Inc. now owns 228 shares of the medical equipment provider's stock valued at $30,000 after acquiring an additional 73 shares in the last quarter. Fifth Third Bancorp increased its stake in Masimo by 16.4% during the 2nd quarter. Fifth Third Bancorp now owns 695 shares of the medical equipment provider's stock valued at $88,000 after purchasing an additional 98 shares in the last quarter. Oak Thistle LLC raised its holdings in Masimo by 5.2% in the second quarter. Oak Thistle LLC now owns 2,079 shares of the medical equipment provider's stock worth $262,000 after buying an additional 103 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Masimo by 75.0% in the second quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider's stock worth $33,000 after buying an additional 111 shares in the last quarter. Finally, HHM Wealth Advisors LLC grew its holdings in shares of Masimo by 25.0% during the second quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider's stock valued at $79,000 after buying an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 85.96% of the company's stock.

Masimo Stock Performance

Shares of NASDAQ MASI traded down $1.37 during midday trading on Wednesday, hitting $170.89. 534,498 shares of the company's stock traded hands, compared to its average volume of 677,370. The firm has a fifty day moving average of $147.03 and a 200 day moving average of $129.03. Masimo Co. has a 1 year low of $91.60 and a 1 year high of $178.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01. The stock has a market capitalization of $9.15 billion, a price-to-earnings ratio of 117.86 and a beta of 0.97.

Masimo (NASDAQ:MASI - Get Free Report) last announced its earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.14. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The business had revenue of $504.60 million during the quarter, compared to analysts' expectations of $502.87 million. During the same period in the prior year, the company earned $0.63 earnings per share. The firm's revenue was up 5.4% on a year-over-year basis. On average, analysts forecast that Masimo Co. will post 4.04 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on MASI. Stifel Nicolaus reaffirmed a "buy" rating and issued a $190.00 price objective (up from $170.00) on shares of Masimo in a research report on Friday, November 22nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Masimo in a report on Wednesday, November 6th. Piper Sandler lifted their price objective on Masimo from $165.00 to $180.00 and gave the stock an "overweight" rating in a report on Wednesday, November 6th. Wells Fargo & Company upped their target price on shares of Masimo from $160.00 to $171.00 and gave the company an "overweight" rating in a research note on Wednesday, November 6th. Finally, Raymond James upgraded shares of Masimo from a "market perform" rating to an "outperform" rating and set a $170.00 price target for the company in a research note on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Masimo presently has a consensus rating of "Moderate Buy" and a consensus price target of $167.00.

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.