Geode Capital Management LLC Increases Stake in Masimo Co. (NASDAQ:MASI)

Geode Capital Management LLC boosted its stake in shares of Masimo Co. (NASDAQ:MASI - Free Report) by 1.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 792,886 shares of the medical equipment provider's stock after acquiring an additional 11,984 shares during the period. Geode Capital Management LLC owned about 1.48% of Masimo worth $105,741,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MASI. Barclays PLC boosted its stake in shares of Masimo by 152.6% in the third quarter. Barclays PLC now owns 39,957 shares of the medical equipment provider's stock worth $5,329,000 after acquiring an additional 24,137 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Masimo during the third quarter worth $519,000. MML Investors Services LLC grew its holdings in shares of Masimo by 4.9% during the third quarter. MML Investors Services LLC now owns 2,056 shares of the medical equipment provider's stock worth $274,000 after buying an additional 96 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Masimo in the third quarter worth about $2,288,000. Finally, National Bank of Canada FI boosted its position in Masimo by 195.6% during the third quarter. National Bank of Canada FI now owns 132,500 shares of the medical equipment provider's stock worth $17,666,000 after acquiring an additional 87,675 shares during the last quarter. Hedge funds and other institutional investors own 85.96% of the company's stock.

Wall Street Analyst Weigh In

MASI has been the subject of a number of recent research reports. BTIG Research increased their price objective on shares of Masimo from $166.00 to $170.00 and gave the company a "buy" rating in a report on Monday, October 14th. Raymond James raised Masimo from a "market perform" rating to an "outperform" rating and set a $170.00 price target for the company in a report on Wednesday, November 6th. Wells Fargo & Company boosted their price objective on Masimo from $171.00 to $193.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 11th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $190.00 target price (up from $170.00) on shares of Masimo in a research note on Friday, November 22nd. Finally, Needham & Company LLC reissued a "hold" rating on shares of Masimo in a research report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $175.67.

Masimo Trading Down 0.4 %

MASI traded down $0.63 on Thursday, hitting $170.00. The company had a trading volume of 548,560 shares, compared to its average volume of 663,257. The company's fifty day moving average price is $159.31 and its 200 day moving average price is $134.19. Masimo Co. has a 1 year low of $101.61 and a 1 year high of $180.97. 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 firm has a market cap of $9.10 billion, a P/E ratio of 117.24 and a beta of 1.01.

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

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.