HighTower Advisors LLC Has $640,000 Holdings in Masimo Co. (NASDAQ:MASI)

HighTower Advisors LLC lessened its position in Masimo Co. (NASDAQ:MASI) by 7.8% in the 3rd quarter, Holdings Channel reports. The fund owned 4,810 shares of the medical equipment provider’s stock after selling 408 shares during the period. HighTower Advisors LLC’s holdings in Masimo were worth $640,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its stake in Masimo by 41.2% during the 3rd quarter. FMR LLC now owns 6,756,618 shares of the medical equipment provider’s stock valued at $900,860,000 after acquiring an additional 1,970,883 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Masimo by 42.1% during the second quarter. Thrivent Financial for Lutherans now owns 1,217,357 shares of the medical equipment provider’s stock valued at $153,314,000 after purchasing an additional 360,497 shares in the last quarter. Point72 Asset Management L.P. grew its position in Masimo by 107.8% during the second quarter. Point72 Asset Management L.P. now owns 677,677 shares of the medical equipment provider’s stock valued at $85,347,000 after purchasing an additional 351,523 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in Masimo by 23.2% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,394,056 shares of the medical equipment provider’s stock valued at $185,869,000 after buying an additional 262,370 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Masimo by 45.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 525,594 shares of the medical equipment provider’s stock worth $66,201,000 after buying an additional 165,257 shares in the last quarter. Institutional investors and hedge funds own 85.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MASI shares. Raymond James raised shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price target on the stock in a research note on Wednesday, November 6th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $190.00 target price (up from $170.00) on shares of Masimo in a research report on Friday, November 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research note on Wednesday, November 6th. Piper Sandler boosted their price target on Masimo from $180.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Wells Fargo & Company raised their price objective on shares of Masimo from $171.00 to $193.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $175.67.

Masimo Stock Performance

MASI opened at $170.00 on Friday. The stock has a 50-day moving average of $159.87 and a 200-day moving average of $134.44. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01. Masimo Co. has a 52-week low of $101.61 and a 52-week high of $180.97. The company has a market cap of $9.10 billion, a PE ratio of 117.24 and a beta of 1.01.

Masimo (NASDAQ:MASI) last announced its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 EPS for the quarter, beating 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 company had revenue of $504.60 million for the quarter, compared to the consensus estimate of $502.87 million. During the same quarter last year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities research 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.