Edgestream Partners L.P. Acquires 5,325 Shares of Masimo Co. (NASDAQ:MASI)

Edgestream Partners L.P. lifted its holdings in Masimo Co. (NASDAQ:MASI - Free Report) by 103.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,449 shares of the medical equipment provider's stock after acquiring an additional 5,325 shares during the quarter. Edgestream Partners L.P.'s holdings in Masimo were worth $1,393,000 as of its most recent SEC filing.

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

Masimo Stock Down 1.4 %

Shares of NASDAQ MASI traded down $2.48 during trading hours on Wednesday, hitting $171.71. 325,904 shares of the stock were exchanged, compared to its average volume of 671,003. The company has a market cap of $9.19 billion, a PE ratio of 120.13 and a beta of 1.01. Masimo Co. has a 12 month low of $99.39 and a 12 month high of $178.27. The firm has a fifty day moving average price of $151.13 and a 200-day moving average price of $130.62. The company has a quick ratio of 1.11, a current ratio of 2.01 and a debt-to-equity ratio of 0.50.

Masimo (NASDAQ:MASI - Get Free Report) last issued its earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.84 by $0.14. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The company had revenue of $504.60 million for the quarter, compared to analyst estimates of $502.87 million. During the same period in the previous year, the firm earned $0.63 EPS. The business's revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts expect that Masimo Co. will post 4.03 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Raymond James upgraded Masimo from a "market perform" rating to an "outperform" rating and set a $170.00 price target for the company in a research report on Wednesday, November 6th. BTIG Research lifted their price target on shares of Masimo from $166.00 to $170.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Wells Fargo & Company upped their price objective on shares of Masimo from $160.00 to $171.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 6th. Piper Sandler raised their price objective on shares of Masimo from $165.00 to $180.00 and gave the company an "overweight" rating in a report on Wednesday, November 6th. Finally, Stifel Nicolaus restated a "buy" rating and set a $190.00 target price (up previously from $170.00) on shares of Masimo in a research report on Friday, November 22nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average 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.