Roubaix Capital LLC Makes New Investment in Masimo Co. (NASDAQ:MASI)

Roubaix Capital LLC bought a new stake in Masimo Co. (NASDAQ:MASI - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 24,839 shares of the medical equipment provider's stock, valued at approximately $3,128,000. Masimo comprises about 2.0% of Roubaix Capital LLC's holdings, making the stock its 26th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Wells Fargo & Company MN boosted its holdings in shares of Masimo by 282.0% in the 4th quarter. Wells Fargo & Company MN now owns 116,712 shares of the medical equipment provider's stock valued at $13,680,000 after acquiring an additional 86,162 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Masimo by 11.6% in 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. Quadrant Capital Group LLC boosted its holdings in Masimo by 99.0% in the fourth quarter. Quadrant Capital Group LLC now owns 1,389 shares of the medical equipment provider's stock valued at $163,000 after purchasing an additional 691 shares during the last quarter. Advisors Asset Management Inc. grew its position in Masimo by 32.1% during the 1st quarter. Advisors Asset Management Inc. now owns 9,009 shares of the medical equipment provider's stock worth $1,323,000 after purchasing an additional 2,187 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Masimo by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 4,781,343 shares of the medical equipment provider's stock valued at $560,421,000 after buying an additional 26,473 shares during the last quarter. Institutional investors and hedge funds own 85.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MASI shares. Piper Sandler raised their target price on Masimo from $160.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, August 7th. Needham & Company LLC restated a "hold" rating on shares of Masimo in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $144.67.

Masimo Price Performance

MASI stock traded down $0.78 during mid-day trading on Thursday, reaching $114.27. 224,037 shares of the company's stock were exchanged, compared to its average volume of 649,290. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.09 and a quick ratio of 1.15. Masimo Co. has a 12-month low of $75.22 and a 12-month high of $153.93. The stock's 50 day moving average is $115.24 and its 200 day moving average is $126.36. The company has a market cap of $6.08 billion, a price-to-earnings ratio of 77.73 and a beta of 0.97.

Masimo (NASDAQ:MASI - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. The firm had revenue of $496.30 million for the quarter, compared to analysts' expectations of $493.92 million. Masimo had a net margin of 3.94% and a return on equity of 14.07%. The firm's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 EPS. On average, research analysts expect that Masimo Co. will post 3.87 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.