Pitcairn Co. Has $218,000 Position in Masimo Co. (NASDAQ:MASI)

Pitcairn Co. lowered its holdings in Masimo Co. (NASDAQ:MASI) by 9.1% in the third quarter, Holdings Channel.com reports. The firm owned 1,635 shares of the medical equipment provider’s stock after selling 163 shares during the period. Pitcairn Co.’s holdings in Masimo were worth $218,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. NBC Securities Inc. lifted its stake in Masimo by 47.1% in the 3rd quarter. NBC Securities Inc. now owns 228 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 73 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Masimo by 75.0% in the 2nd quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider’s stock valued at $33,000 after purchasing an additional 111 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Masimo by 133.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 350 shares of the medical equipment provider’s stock worth $44,000 after purchasing an additional 200 shares in the last quarter. HHM Wealth Advisors LLC boosted 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 worth $79,000 after purchasing an additional 125 shares during the period. Finally, Lazard Asset Management LLC grew its position in Masimo by 5,730.0% during the first quarter. Lazard Asset Management LLC now owns 583 shares of the medical equipment provider’s stock valued at $85,000 after purchasing an additional 573 shares in the last quarter. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Masimo Price Performance

Shares of NASDAQ:MASI opened at $170.89 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11. The stock has a market capitalization of $9.15 billion, a P/E ratio of 117.86 and a beta of 0.97. The business has a 50-day moving average of $147.03 and a two-hundred day moving average of $129.03. Masimo Co. has a fifty-two week low of $91.60 and a fifty-two week high of $178.27.

Masimo (NASDAQ:MASI) last posted its earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.14. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The firm had revenue of $504.60 million during the quarter, compared to analyst estimates of $502.87 million. During the same period in the previous year, the company earned $0.63 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts predict that Masimo Co. will post 4.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MASI has been the subject of a number of research analyst reports. Piper Sandler increased their target price 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. Stifel Nicolaus reiterated a “buy” rating and set a $190.00 price objective (up from $170.00) on shares of Masimo in a report on Friday, November 22nd. Needham & Company LLC restated a “hold” rating on shares of Masimo in a research note on Wednesday, November 6th. Wells Fargo & Company raised their price target on Masimo from $160.00 to $171.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, BTIG Research boosted their price target on Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $167.00.

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.