Masimo Co. (NASDAQ:MASI) is Ace Management Global Ltd.'s Largest Position

Ace Management Global Ltd. cut its stake in Masimo Co. (NASDAQ:MASI - Free Report) by 9.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 965,504 shares of the medical equipment provider's stock after selling 95,415 shares during the period. Masimo accounts for 38.4% of Ace Management Global Ltd.'s investment portfolio, making the stock its largest holding. Ace Management Global Ltd. owned about 1.82% of Masimo worth $128,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MASI. Roubaix Capital LLC lifted its stake in shares of Masimo by 37.0% in the 3rd quarter. Roubaix Capital LLC now owns 34,041 shares of the medical equipment provider's stock valued at $4,539,000 after purchasing an additional 9,202 shares during the period. SteelPeak Wealth LLC acquired a new position in Masimo in the third quarter valued at approximately $570,000. State of Alaska Department of Revenue boosted its holdings in shares of Masimo by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 5,139 shares of the medical equipment provider's stock worth $685,000 after buying an additional 345 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Masimo by 5,340.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,394 shares of the medical equipment provider's stock worth $319,000 after buying an additional 2,350 shares during the period. Finally, Cardinal Capital Management increased its stake in shares of Masimo by 19.9% in the 3rd quarter. Cardinal Capital Management now owns 18,517 shares of the medical equipment provider's stock valued at $2,469,000 after acquiring an additional 3,077 shares in the last quarter. Institutional investors and hedge funds own 85.96% of the company's stock.

Masimo Stock Up 0.1 %

MASI stock traded up $0.21 during mid-day trading on Friday, reaching $144.22. 388,470 shares of the company traded hands, compared to its average volume of 748,574. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 98.11 and a beta of 0.97. Masimo Co. has a fifty-two week low of $75.36 and a fifty-two week high of $153.93. The firm's 50 day moving average price is $129.44 and its 200 day moving average price is $125.31. The company has a quick ratio of 1.15, a current ratio of 2.09 and a debt-to-equity ratio of 0.55.

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, 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 business had revenue of $496.30 million during the quarter, compared to analyst estimates of $493.92 million. During the same period in the prior year, the firm posted $0.62 EPS. Masimo's quarterly revenue was up 9.0% compared to the same quarter last year. As a group, equities research analysts predict that Masimo Co. will post 3.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MASI. Piper Sandler reissued an "overweight" rating on shares of Masimo in a research note on Friday, October 18th. BTIG Research raised their target price on Masimo from $166.00 to $170.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Masimo in a research note on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Masimo currently has an average rating of "Moderate Buy" and a consensus price target of $145.33.

Masimo Company 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.