Principal Financial Group Inc. Cuts Stock Holdings in Masimo Co. (NASDAQ:MASI)

Principal Financial Group Inc. reduced its holdings in shares of Masimo Co. (NASDAQ:MASI - Free Report) by 31.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 102,507 shares of the medical equipment provider's stock after selling 46,144 shares during the period. Principal Financial Group Inc. owned approximately 0.19% of Masimo worth $13,667,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of MASI. NBC Securities Inc. increased its stake in shares of 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 acquiring an additional 73 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Masimo by 133.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 350 shares of the medical equipment provider's stock valued at $44,000 after buying an additional 200 shares during the period. HHM Wealth Advisors LLC boosted its stake 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 buying an additional 125 shares in the last quarter. Headlands Technologies LLC acquired a new position in Masimo during the second quarter worth $109,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Masimo in the third quarter worth $118,000. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Masimo Trading Down 0.0 %

Shares of Masimo stock traded down $0.05 during mid-day trading on Friday, hitting $170.97. 424,743 shares of the stock were exchanged, compared to its average volume of 659,416. The stock has a market capitalization of $9.15 billion, a price-to-earnings ratio of 117.91 and a beta of 1.01. Masimo Co. has a twelve month low of $101.61 and a twelve month high of $180.97. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The company has a 50-day simple moving average of $162.96 and a 200 day simple moving average of $136.32.

Masimo (NASDAQ:MASI - Get Free Report) last released its earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.84 by $0.14. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The firm had revenue of $504.60 million during the quarter, compared to analysts' expectations of $502.87 million. During the same period in the previous year, the company earned $0.63 EPS. Masimo's revenue for the quarter was up 5.4% on a year-over-year basis. Research analysts forecast that Masimo Co. will post 4.03 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on MASI. BTIG Research boosted their target price on shares of Masimo from $166.00 to $170.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Piper Sandler raised their price target on Masimo from $180.00 to $210.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. Stifel Nicolaus reaffirmed a "buy" rating and set a $190.00 price target (up previously from $170.00) on shares of Masimo in a research note on Friday, November 22nd. Wells Fargo & Company increased their price objective on shares of Masimo from $171.00 to $193.00 and gave the company an "overweight" rating in a research note on Wednesday, December 11th. Finally, Needham & Company LLC restated a "hold" rating on shares of Masimo in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $179.67.

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.