Roubaix Capital LLC Has $4.54 Million Stock Holdings in Masimo Co. (NASDAQ:MASI)

Roubaix Capital LLC raised its holdings in Masimo Co. (NASDAQ:MASI - Free Report) by 37.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,041 shares of the medical equipment provider's stock after acquiring an additional 9,202 shares during the period. Masimo comprises about 2.5% of Roubaix Capital LLC's investment portfolio, making the stock its 13th largest holding. Roubaix Capital LLC owned about 0.06% of Masimo worth $4,539,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State of Michigan Retirement System boosted its position in shares of Masimo by 1.9% during the first quarter. State of Michigan Retirement System now owns 10,896 shares of the medical equipment provider's stock worth $1,600,000 after buying an additional 200 shares during the period. SeaCrest Wealth Management LLC acquired a new position in shares of Masimo during the first quarter worth about $263,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Masimo by 33.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,196 shares of the medical equipment provider's stock worth $6,196,000 after buying an additional 10,683 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of Masimo by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 38,847 shares of the medical equipment provider's stock worth $5,705,000 after buying an additional 547 shares during the period. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Masimo during the first quarter valued at approximately $217,000. 85.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MASI. Needham & Company LLC reissued a "hold" rating on shares of Masimo in a research report on Friday, September 20th. BTIG Research increased their price target on Masimo from $166.00 to $170.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Finally, Piper Sandler reissued an "overweight" rating on shares of Masimo in a research report on Friday, October 18th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $145.33.

Masimo Stock Performance

Shares of MASI traded up $1.12 during mid-day trading on Thursday, reaching $144.01. The company's stock had a trading volume of 655,800 shares, compared to its average volume of 673,875. Masimo Co. has a 1-year low of $75.36 and a 1-year high of $153.93. The stock has a market cap of $7.66 billion, a P/E ratio of 97.38 and a beta of 0.99. The business has a 50-day simple moving average of $128.51 and a two-hundred day simple moving average of $125.14. The company has a current ratio of 2.09, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55.

Masimo (NASDAQ:MASI - Get Free Report) last released its quarterly earnings data 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. 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 analysts' expectations of $493.92 million. During the same period last year, the firm posted $0.62 earnings per share. The business's revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts anticipate that Masimo Co. will post 3.88 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.