Principal Financial Group Inc. Lowers Stake in Masimo Co. (NASDAQ:MASI)

Principal Financial Group Inc. lowered its position in Masimo Co. (NASDAQ:MASI - Free Report) by 31.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 102,507 shares of the medical equipment provider's stock after selling 46,144 shares during the period. Principal Financial Group Inc. owned 0.19% of Masimo worth $13,667,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. NBC Securities Inc. grew its holdings in Masimo by 47.1% during the third quarter. NBC Securities Inc. now owns 228 shares of the medical equipment provider's stock worth $30,000 after buying an additional 73 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Masimo by 75.0% in the 2nd quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider's stock worth $33,000 after acquiring an additional 111 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Masimo by 133.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 350 shares of the medical equipment provider's stock valued at $44,000 after purchasing an additional 200 shares in the last quarter. HHM Wealth Advisors LLC boosted its holdings in Masimo by 25.0% during the second 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 during the last quarter. Finally, Lazard Asset Management LLC grew its position in Masimo by 5,730.0% in the 1st quarter. Lazard Asset Management LLC now owns 583 shares of the medical equipment provider's stock worth $85,000 after purchasing an additional 573 shares in the last quarter. Institutional investors and hedge funds own 85.96% of the company's stock.

Masimo Stock Performance

MASI traded up $0.92 on Friday, hitting $161.07. The company's stock had a trading volume of 544,540 shares, compared to its average volume of 653,531. The company's 50 day simple moving average is $138.18 and its 200-day simple moving average is $126.89. 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 12 month low of $91.25 and a 12 month high of $173.90. The firm has a market cap of $8.62 billion, a P/E ratio of 111.08 and a beta of 0.97.

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 for the quarter, beating the consensus estimate of $0.84 by $0.14. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The company had revenue of $504.60 million during the quarter, compared to analysts' expectations of $502.87 million. During the same period in the previous year, the business earned $0.63 earnings per share. The firm's quarterly revenue was up 5.4% compared to the same quarter last year. Analysts forecast that Masimo Co. will post 4.04 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MASI. Needham & Company LLC restated a "hold" rating on shares of Masimo in a research note on Wednesday, November 6th. Piper Sandler upped their price objective on Masimo from $165.00 to $180.00 and gave the company an "overweight" rating in a research note on Wednesday, November 6th. Wells Fargo & Company lifted their target price on Masimo from $160.00 to $171.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 6th. Raymond James upgraded shares of Masimo from a "market perform" rating to an "outperform" rating and set a $170.00 price objective for the company in a report on Wednesday, November 6th. Finally, BTIG Research increased 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. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $163.67.

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.