ClariVest Asset Management LLC Purchases Shares of 9,609 Masimo Co. (NASDAQ:MASI)

ClariVest Asset Management LLC bought a new position in shares of Masimo Co. (NASDAQ:MASI - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,609 shares of the medical equipment provider's stock, valued at approximately $1,210,000.

Several other institutional investors and hedge funds have also made changes to their positions in MASI. Riverview Trust Co acquired a new position in Masimo in the 1st quarter worth $25,000. GAMMA Investing LLC lifted its stake in shares of Masimo by 75.0% in the second 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. EverSource Wealth Advisors LLC boosted its holdings in Masimo by 851.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 295 shares of the medical equipment provider's stock valued at $35,000 after purchasing an additional 264 shares during the last quarter. Parallel Advisors LLC grew its stake in Masimo by 48.3% during the 4th quarter. Parallel Advisors LLC now owns 445 shares of the medical equipment provider's stock valued at $52,000 after purchasing an additional 145 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Masimo by 5,730.0% during 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 during the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MASI has been the subject of several research analyst reports. Piper Sandler increased their target price on Masimo from $160.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, August 7th. Needham & Company LLC reiterated a "hold" rating on shares of Masimo in a research note 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. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $144.67.

Masimo Stock Performance

Shares of MASI stock traded down $1.19 on Thursday, hitting $113.00. 466,227 shares of the stock traded hands, compared to its average volume of 645,927. The company's fifty day moving average is $114.54 and its 200 day moving average is $125.70. Masimo Co. has a 1-year low of $75.22 and a 1-year high of $153.93. The company has a market capitalization of $6.01 billion, a PE ratio of 77.28 and a beta of 0.98. 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 (NASDAQ:MASI - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. The business had revenue of $496.30 million during the quarter, compared to the consensus estimate of $493.92 million. Masimo had a net margin of 3.94% and a return on equity of 14.07%. The company's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.62 EPS. On average, equities research analysts predict that Masimo Co. will post 3.87 earnings per share for the current fiscal 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.