Malaga Cove Capital LLC purchased a new stake in shares of Masimo Co. (NASDAQ:MASI - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,005 shares of the medical equipment provider's stock, valued at approximately $401,000.
A number of other hedge funds have also modified their holdings of MASI. Mirae Asset Global Investments Co. Ltd. boosted its stake in Masimo by 33.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,196 shares of the medical equipment provider's stock valued at $6,196,000 after buying an additional 10,683 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of Masimo by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 38,847 shares of the medical equipment provider's stock valued at $5,705,000 after purchasing an additional 547 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Masimo in the first quarter worth $217,000. Qsemble Capital Management LP purchased a new stake in Masimo during the first quarter valued at $245,000. Finally, State Board of Administration of Florida Retirement System lifted its position in Masimo by 11.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 54,839 shares of the medical equipment provider's stock valued at $8,053,000 after purchasing an additional 5,688 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors.
Masimo Trading Down 3.7 %
Shares of MASI traded down $6.28 during trading hours on Thursday, reaching $161.35. 952,749 shares of the company traded hands, compared to its average volume of 683,751. The firm has a market cap of $8.58 billion, a price-to-earnings ratio of 109.76 and a beta of 0.97. Masimo Co. has a 12-month low of $75.36 and a 12-month high of $173.90. The stock's fifty day moving average price is $132.63 and its 200 day moving average price is $125.88. The company has a current ratio of 2.09, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55.
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 analysts' consensus estimates of $0.84 by $0.14. Masimo had a net margin of 3.94% and a return on equity of 14.07%. The business had revenue of $504.60 million for the quarter, compared to the consensus estimate of $502.87 million. During the same period in the prior year, the firm earned $0.63 EPS. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. Sell-side analysts forecast that Masimo Co. will post 3.88 earnings per share for the current year.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the stock. BTIG Research upped their target price on shares of Masimo from $166.00 to $170.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Piper Sandler upped their price objective on Masimo from $165.00 to $180.00 and gave the company an "overweight" rating in a research report on Wednesday. Raymond James upgraded Masimo from a "market perform" rating to an "outperform" rating and set a $170.00 target price for the company in a report on Wednesday. Needham & Company LLC restated a "hold" rating on shares of Masimo in a report on Wednesday. Finally, Wells Fargo & Company lifted their price objective on shares of Masimo from $160.00 to $171.00 and gave the stock an "overweight" rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $152.57.
Read Our Latest Analysis on MASI
About Masimo
(
Free Report)
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.
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