Retirement Systems of Alabama Has $15.23 Million Stock Position in Masimo Co. (NASDAQ:MASI)

Retirement Systems of Alabama lessened its holdings in Masimo Co. (NASDAQ:MASI - Free Report) by 20.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 114,260 shares of the medical equipment provider's stock after selling 29,978 shares during the quarter. Retirement Systems of Alabama owned approximately 0.21% of Masimo worth $15,234,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Tidal Investments LLC bought a new position in Masimo during the third quarter worth about $319,000. Geode Capital Management LLC raised its position in shares of Masimo by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 792,886 shares of the medical equipment provider's stock valued at $105,741,000 after acquiring an additional 11,984 shares during the period. Barclays PLC boosted its stake in Masimo by 152.6% during the 3rd quarter. Barclays PLC now owns 39,957 shares of the medical equipment provider's stock worth $5,329,000 after acquiring an additional 24,137 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Masimo during the third quarter valued at approximately $519,000. Finally, MML Investors Services LLC increased its stake in Masimo by 4.9% in the third quarter. MML Investors Services LLC now owns 2,056 shares of the medical equipment provider's stock valued at $274,000 after purchasing an additional 96 shares in the last quarter. Institutional investors and hedge funds own 85.96% of the company's stock.

Masimo Stock Up 0.6 %

NASDAQ MASI traded up $1.12 during trading hours on Monday, hitting $177.26. 691,495 shares of the company traded hands, compared to its average volume of 664,973. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01. The business's 50-day moving average is $157.26 and its 200-day moving average is $133.23. The stock has a market capitalization of $9.49 billion, a price-to-earnings ratio of 122.68 and a beta of 1.01. Masimo Co. has a twelve month low of $101.61 and a twelve month high of $180.97.

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MASI. BTIG Research lifted their price target 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 increased their price objective on shares of Masimo from $165.00 to $180.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 6th. Wells Fargo & Company increased their target price on Masimo from $171.00 to $193.00 and gave the stock an "overweight" rating in a report on Wednesday, December 11th. Needham & Company LLC reissued a "hold" rating on shares of Masimo in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus reissued a "buy" rating and issued a $190.00 target price (up previously from $170.00) on shares of Masimo in a research report on Friday, November 22nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Masimo presently has an average rating of "Moderate Buy" and a consensus target price of $170.67.

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.