Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in Masimo Co. (NASDAQ:MASI)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Masimo Co. (NASDAQ:MASI) by 9.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,914 shares of the medical equipment provider’s stock after buying an additional 713 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Masimo were worth $928,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State of Michigan Retirement System raised its holdings in shares of Masimo by 0.9% in the fourth quarter. State of Michigan Retirement System now owns 10,696 shares of the medical equipment provider’s stock worth $1,254,000 after buying an additional 100 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in shares of Masimo by 140.6% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 243 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 142 shares during the period. Byrne Asset Management LLC acquired a new stake in shares of Masimo in the fourth quarter worth $28,000. Buckhead Capital Management LLC increased its stake in shares of Masimo by 10.0% in the third quarter. Buckhead Capital Management LLC now owns 2,800 shares of the medical equipment provider’s stock worth $246,000 after acquiring an additional 255 shares during the period. Finally, Cardinal Capital Management increased its stake in shares of Masimo by 2.2% in the fourth quarter. Cardinal Capital Management now owns 11,802 shares of the medical equipment provider’s stock worth $1,383,000 after acquiring an additional 255 shares during the period. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Analysts Set New Price Targets

MASI has been the topic of a number of research reports. Needham & Company LLC lowered shares of Masimo from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. StockNews.com upgraded shares of Masimo from a “sell” rating to a “hold” rating in a research report on Friday, March 29th. Stifel Nicolaus upgraded shares of Masimo from a “hold” rating to a “buy” rating and raised their price target for the company from $148.00 to $170.00 in a research report on Monday, April 15th. BTIG Research raised their price target on shares of Masimo from $145.00 to $166.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Finally, Piper Sandler raised their price target on shares of Masimo from $70.00 to $117.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Masimo has an average rating of “Hold” and a consensus price target of $137.43.

Masimo Stock Up 0.7 %

Shares of NASDAQ MASI opened at $136.14 on Monday. The company’s 50-day simple moving average is $135.77 and its 200-day simple moving average is $116.78. Masimo Co. has a 52-week low of $75.22 and a 52-week high of $190.82. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of 90.16 and a beta of 0.97. The company has a quick ratio of 1.22, a current ratio of 2.18 and a debt-to-equity ratio of 0.64.

Masimo (NASDAQ:MASI) last announced its earnings results on Tuesday, February 27th. The medical equipment provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.43. Masimo had a net margin of 3.98% and a return on equity of 13.77%. The business had revenue of $548.90 million for the quarter, compared to analyst estimates of $545.69 million. During the same quarter last year, the business earned $1.32 earnings per share. The company’s revenue for the quarter was down 11.0% compared to the same quarter last year. Equities analysts predict that Masimo Co. will post 3.51 EPS for the current fiscal year.

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.