Bank of Montreal Can Purchases 33,581 Shares of Masimo Co. (NASDAQ:MASI)

Bank of Montreal Can lifted its stake in shares of Masimo Co. (NASDAQ:MASIGet Rating) by 56.3% during the first quarter, HoldingsChannel reports. The firm owned 93,176 shares of the medical equipment provider’s stock after acquiring an additional 33,581 shares during the quarter. Bank of Montreal Can’s holdings in Masimo were worth $14,585,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. AlphaCrest Capital Management LLC raised its stake in shares of Masimo by 16.5% during the 1st quarter. AlphaCrest Capital Management LLC now owns 11,188 shares of the medical equipment provider’s stock worth $1,628,000 after purchasing an additional 1,582 shares in the last quarter. Citigroup Inc. raised its stake in shares of Masimo by 89.0% during the 1st quarter. Citigroup Inc. now owns 551,935 shares of the medical equipment provider’s stock worth $80,328,000 after purchasing an additional 259,865 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Masimo during the 1st quarter worth approximately $3,262,000. Private Advisor Group LLC raised its stake in shares of Masimo by 29.1% during the 1st quarter. Private Advisor Group LLC now owns 6,117 shares of the medical equipment provider’s stock worth $890,000 after purchasing an additional 1,379 shares in the last quarter. Finally, Pinebridge Investments L.P. bought a new stake in shares of Masimo during the 1st quarter worth approximately $445,000. Institutional investors own 93.31% of the company’s stock.

Masimo Stock Performance

Shares of NASDAQ MASI opened at $144.27 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.10 and a quick ratio of 1.28. The stock’s fifty day moving average price is $144.11 and its two-hundred day moving average price is $142.58. Masimo Co. has a one year low of $112.07 and a one year high of $305.21. The firm has a market cap of $7.58 billion, a price-to-earnings ratio of 43.45 and a beta of 0.96.

Masimo (NASDAQ:MASIGet Rating) last issued its quarterly earnings data on Tuesday, August 9th. The medical equipment provider reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.16. Masimo had a return on equity of 17.39% and a net margin of 12.68%. The firm had revenue of $565.30 million for the quarter, compared to analyst estimates of $540.56 million. During the same period in the prior year, the firm posted $0.94 EPS. The company’s revenue for the quarter was up 87.9% on a year-over-year basis. On average, equities analysts forecast that Masimo Co. will post 4.47 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Needham & Company LLC upped their price objective on Masimo from $163.00 to $179.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Piper Sandler increased their price target on Masimo from $130.00 to $135.00 and gave the company a “neutral” rating in a research note on Wednesday, August 10th. Finally, StockNews.com cut Masimo from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $183.80.

About Masimo

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Masimo Corporation develops, manufactures, and markets noninvasive monitoring technologies and hospital automation 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.

Further Reading

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Institutional Ownership by Quarter for Masimo (NASDAQ:MASI)

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