Masimo Co. (NASDAQ:MASI) Stake Reduced by HighTower Advisors LLC

HighTower Advisors LLC trimmed its stake in Masimo Co. (NASDAQ:MASI) by 7.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 4,810 shares of the medical equipment provider’s stock after selling 408 shares during the quarter. HighTower Advisors LLC’s holdings in Masimo were worth $640,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MASI. NBC Securities Inc. lifted its position in Masimo by 47.1% in the 3rd quarter. NBC Securities Inc. now owns 228 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 73 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Masimo by 133.3% during the second 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 last quarter. HHM Wealth Advisors LLC raised its holdings in shares of Masimo by 25.0% during 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 during the last quarter. Fifth Third Bancorp boosted its position in shares of 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. Finally, Headlands Technologies LLC bought a new position in Masimo in the 2nd quarter worth approximately $109,000. Institutional investors and hedge funds own 85.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MASI. Stifel Nicolaus reiterated a “buy” rating and set a $190.00 price target (up previously from $170.00) on shares of Masimo in a research report on Friday, November 22nd. Raymond James raised shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price objective for the company in a report on Wednesday, November 6th. Piper Sandler increased their target price on shares of Masimo from $180.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday. BTIG Research upped their price target on shares of Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, 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 report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.67.

Masimo Stock Performance

NASDAQ:MASI opened at $170.00 on Friday. The company has a 50-day moving average of $159.87 and a 200-day moving average of $134.44. The firm has a market cap of $9.10 billion, a price-to-earnings ratio of 117.24 and a beta of 1.01. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. Masimo Co. has a twelve month low of $101.61 and a twelve month high of $180.97.

Masimo (NASDAQ:MASI) last issued its earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.14. The firm 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 for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted $0.63 earnings per share. Analysts forecast that Masimo Co. will post 4.03 earnings per share for the current fiscal year.

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.