4,459 Shares in Masimo Co. (NASDAQ:MASI) Purchased by Fred Alger Management LLC

Fred Alger Management LLC purchased a new position in shares of Masimo Co. (NASDAQ:MASI - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,459 shares of the medical equipment provider's stock, valued at approximately $595,000.

Other institutional investors have also recently modified their holdings of the company. FMR LLC lifted its position in Masimo by 41.2% in the 3rd quarter. FMR LLC now owns 6,756,618 shares of the medical equipment provider's stock worth $900,860,000 after buying an additional 1,970,883 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of Masimo by 23.2% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,394,056 shares of the medical equipment provider's stock worth $185,869,000 after acquiring an additional 262,370 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Masimo by 42.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,217,357 shares of the medical equipment provider's stock valued at $153,314,000 after purchasing an additional 360,497 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Masimo by 9.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 792,166 shares of the medical equipment provider's stock valued at $105,619,000 after purchasing an additional 70,440 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in Masimo by 107.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 677,677 shares of the medical equipment provider's stock worth $85,347,000 after purchasing an additional 351,523 shares during the period. 85.96% of the stock is currently owned by institutional investors.

Masimo Trading Down 0.5 %

NASDAQ MASI traded down $0.85 during trading on Monday, hitting $171.69. The company had a trading volume of 334,853 shares, compared to its average volume of 674,040. The company's fifty day moving average is $150.17 and its 200-day moving average is $130.27. Masimo Co. has a one year low of $96.40 and a one year high of $178.27. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The company has a market cap of $9.19 billion, a price-to-earnings ratio of 118.41 and a beta of 0.97.

Masimo (NASDAQ:MASI - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $504.60 million during the quarter, compared to analyst estimates of $502.87 million. During the same period last year, the business posted $0.63 earnings per share. Masimo's quarterly revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts predict that Masimo Co. will post 4.03 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Stifel Nicolaus restated a "buy" rating and set a $190.00 price target (up from $170.00) on shares of Masimo in a research report on Friday, November 22nd. BTIG Research raised their price target on Masimo from $166.00 to $170.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Needham & Company LLC reiterated a "hold" rating on shares of Masimo in a research report on Wednesday, November 6th. Wells Fargo & Company lifted their target price on shares of Masimo from $160.00 to $171.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 6th. Finally, Piper Sandler increased their price target on shares of Masimo from $165.00 to $180.00 and gave the company an "overweight" rating in a research report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $167.00.

Masimo Profile

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.