New York State Teachers Retirement System Cuts Stock Holdings in Masimo Co. (NASDAQ:MASI)

New York State Teachers Retirement System reduced its position in shares of Masimo Co. (NASDAQ:MASI - Free Report) by 7.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,448 shares of the medical equipment provider's stock after selling 3,600 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of Masimo worth $6,060,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. NBC Securities Inc. grew its position in Masimo by 47.1% during the third quarter. NBC Securities Inc. now owns 228 shares of the medical equipment provider's stock worth $30,000 after buying an additional 73 shares during the period. Fifth Third Bancorp grew its position in Masimo by 16.4% during the second quarter. Fifth Third Bancorp now owns 695 shares of the medical equipment provider's stock worth $88,000 after buying an additional 98 shares during the period. Oak Thistle LLC grew its position in shares of Masimo by 5.2% in the second quarter. Oak Thistle LLC now owns 2,079 shares of the medical equipment provider's stock valued at $262,000 after purchasing an additional 103 shares during the last quarter. GAMMA Investing LLC grew its position 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 valued at $33,000 after purchasing an additional 111 shares during the last quarter. Finally, HHM Wealth Advisors LLC grew its position in shares of Masimo by 25.0% in the second quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider's stock valued at $79,000 after purchasing an additional 125 shares during the last quarter. 85.96% of the stock is owned by hedge funds and other institutional investors.

Masimo Trading Up 10.6 %

Shares of MASI traded up $16.07 on Wednesday, hitting $167.63. 2,094,872 shares of the stock traded hands, compared to its average volume of 682,376. The company has a quick ratio of 1.15, a current ratio of 2.09 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $8.92 billion, a P/E ratio of 105.86 and a beta of 0.97. The stock's 50 day moving average is $130.72 and its two-hundred day moving average is $125.34. Masimo Co. has a 1 year low of $75.36 and a 1 year high of $173.90.

Masimo (NASDAQ:MASI - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.14. The business had revenue of $504.60 million for the quarter, compared to the consensus estimate of $502.87 million. Masimo had a net margin of 3.94% and a return on equity of 14.07%. The company's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 earnings per share. As a group, sell-side analysts predict that Masimo Co. will post 3.88 earnings per share for the current year.

Wall Street Analyst Weigh In

MASI has been the topic of several research reports. Wells Fargo & Company increased their price target on shares of Masimo from $160.00 to $171.00 and gave the company an "overweight" rating in a research report on Wednesday. Raymond James upgraded shares of Masimo from a "market perform" rating to an "outperform" rating and set a $170.00 price target on the stock in a research report on Wednesday. Needham & Company LLC reiterated a "hold" rating on shares of Masimo in a research report on Wednesday. Piper Sandler increased their price target on shares of Masimo from $165.00 to $180.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, BTIG Research increased their price target on shares of Masimo from $166.00 to $170.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $152.57.

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.