Masimo Co. (NASDAQ:MASI) Stock Position Lessened by Federated Hermes Inc.

Federated Hermes Inc. decreased its position in shares of Masimo Co. (NASDAQ:MASI - Free Report) by 13.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 134,261 shares of the medical equipment provider's stock after selling 21,124 shares during the period. Federated Hermes Inc. owned about 0.25% of Masimo worth $16,909,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MASI. Riverview Trust Co acquired a new position in shares of Masimo in the first quarter worth about $25,000. GAMMA Investing LLC raised its holdings in Masimo by 75.0% in the second quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider's stock valued at $33,000 after acquiring an additional 111 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Masimo by 851.6% in the 4th 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 in the last quarter. Parallel Advisors LLC lifted its position in shares of Masimo by 48.3% during the fourth quarter. Parallel Advisors LLC now owns 445 shares of the medical equipment provider's stock worth $52,000 after purchasing an additional 145 shares during the last quarter. Finally, HHM Wealth Advisors LLC lifted its position in shares of 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. Institutional investors and hedge funds own 85.96% of the company's stock.

Masimo Stock Performance

NASDAQ:MASI traded up $1.17 during midday trading on Monday, reaching $113.97. 321,774 shares of the company traded hands, compared to its average volume of 643,800. Masimo Co. has a twelve month low of $75.22 and a twelve month high of $153.93. 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 company has a fifty day moving average price of $114.48 and a 200 day moving average price of $125.43. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 77.53 and a beta of 0.98.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MASI. Needham & Company LLC restated a "hold" rating on shares of Masimo in a research note on Wednesday, August 7th. Piper Sandler raised their price objective on Masimo from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Masimo presently has a consensus rating of "Moderate Buy" and an average price target of $144.67.

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.