Texas Permanent School Fund Corp Increases Stake in Masimo Co. (NASDAQ:MASI)

Texas Permanent School Fund Corp increased its holdings in Masimo Co. (NASDAQ:MASI - Free Report) by 12.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,500 shares of the medical equipment provider's stock after buying an additional 4,653 shares during the period. Texas Permanent School Fund Corp owned 0.08% of Masimo worth $5,478,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Wells Fargo & Company MN increased its position in shares of Masimo by 282.0% during the fourth quarter. Wells Fargo & Company MN now owns 116,712 shares of the medical equipment provider's stock valued at $13,680,000 after buying an additional 86,162 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in Masimo by 11.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 54,839 shares of the medical equipment provider's stock worth $8,053,000 after acquiring an additional 5,688 shares during the period. Quadrant Capital Group LLC lifted its stake in Masimo by 99.0% in the 4th quarter. Quadrant Capital Group LLC now owns 1,389 shares of the medical equipment provider's stock worth $163,000 after purchasing an additional 691 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Masimo by 32.1% in the 1st quarter. Advisors Asset Management Inc. now owns 9,009 shares of the medical equipment provider's stock valued at $1,323,000 after purchasing an additional 2,187 shares during the period. Finally, Vanguard Group Inc. grew its position 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 purchasing an additional 26,473 shares in the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Piper Sandler lifted their price objective 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 reaffirmed a "hold" rating on shares of Masimo in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $144.67.

Masimo Price Performance

NASDAQ MASI traded down $0.20 during trading hours on Friday, reaching $112.80. 591,677 shares of the stock traded hands, compared to its average volume of 645,620. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.09 and a quick ratio of 1.15. The stock has a 50 day simple moving average of $114.52 and a two-hundred day simple moving average of $125.61. Masimo Co. has a 1 year low of $75.22 and a 1 year high of $153.93. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 76.50 and a beta of 0.98.

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