Kovitz Investment Group Partners LLC Invests $499,000 in Masimo Co. (NASDAQ:MASI)

Kovitz Investment Group Partners LLC bought a new stake 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 & Exchange Commission. The firm bought 3,902 shares of the medical equipment provider's stock, valued at approximately $499,000.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC boosted its stake in shares of Masimo by 41.2% during the 3rd quarter. FMR LLC now owns 6,756,618 shares of the medical equipment provider's stock worth $900,860,000 after acquiring an additional 1,970,883 shares in the last quarter. State Street Corp increased its stake in Masimo by 0.7% in the 3rd quarter. State Street Corp now owns 1,438,814 shares of the medical equipment provider's stock worth $191,837,000 after purchasing an additional 10,179 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in Masimo by 23.2% during the third quarter. Westfield Capital Management Co. LP now owns 1,394,056 shares of the medical equipment provider's stock valued at $185,869,000 after buying an additional 262,370 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in 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 worth $153,314,000 after purchasing an additional 360,497 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in 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 worth $105,619,000 after purchasing an additional 70,440 shares in the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on MASI shares. Stifel Nicolaus reissued 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. Wells Fargo & Company upped their price objective on shares of Masimo from $171.00 to $193.00 and gave the company an "overweight" rating in a research note on Wednesday. BTIG Research lifted their target price 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. Piper Sandler lifted their price objective on Masimo from $165.00 to $180.00 and gave the company an "overweight" rating in a research report on Wednesday, November 6th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Masimo 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $170.67.

Masimo Stock Performance

Shares of MASI stock traded up $0.93 during mid-day trading on Friday, reaching $176.01. The stock had a trading volume of 183,674 shares, compared to its average volume of 663,105. The firm has a market cap of $9.42 billion, a PE ratio of 120.74 and a beta of 1.01. 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 Co. has a one year low of $101.61 and a one year high of $178.87. The firm's 50 day simple moving average is $156.51 and its 200 day simple moving average is $132.80.

Masimo (NASDAQ:MASI - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $504.60 million for the quarter, compared to analyst estimates of $502.87 million. During the same quarter in the previous year, the firm posted $0.63 EPS. The business's revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts forecast that Masimo Co. will post 4.03 EPS for the current year.

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.