Fifth Third Bancorp Decreases Stake in Masimo Co. (NASDAQ:MASI)

Fifth Third Bancorp lowered its stake in shares of Masimo Co. (NASDAQ:MASI) by 15.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 610 shares of the medical equipment provider’s stock after selling 113 shares during the period. Fifth Third Bancorp’s holdings in Masimo were worth $101,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Squarepoint Ops LLC acquired a new stake in shares of Masimo in the 2nd quarter worth approximately $1,220,000. Northwestern Mutual Wealth Management Co. boosted its position in Masimo by 133.3% during 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. SG Americas Securities LLC acquired a new stake in Masimo in the third quarter valued at $3,862,000. Handelsbanken Fonder AB increased its position in shares of Masimo by 17.8% in the third quarter. Handelsbanken Fonder AB now owns 13,230 shares of the medical equipment provider’s stock valued at $1,764,000 after buying an additional 2,000 shares in the last quarter. Finally, Inspire Investing LLC acquired a new position in shares of Masimo during the 3rd quarter worth $395,000. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. 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 research note on Wednesday, December 11th. Piper Sandler increased their price target on shares of Masimo from $180.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Raymond James lifted their price objective on Masimo from $170.00 to $194.00 and gave the stock an “outperform” rating in a research report on Friday, December 27th. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a report on Wednesday, January 22nd. Finally, BTIG Research raised their price target on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Two 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $191.40.

Masimo Price Performance

Shares of NASDAQ:MASI opened at $174.23 on Friday. The business has a fifty day simple moving average of $171.28 and a 200-day simple moving average of $144.71. Masimo Co. has a 52 week low of $101.61 and a 52 week high of $183.14. The company has a market cap of $9.33 billion, a P/E ratio of 120.16 and a beta of 1.01. The company has a quick ratio of 1.11, a current ratio of 2.01 and a debt-to-equity ratio of 0.50.

Masimo (NASDAQ:MASI) last posted 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. The company had revenue of $504.60 million during the quarter, compared to analysts’ expectations of $502.87 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. Equities research analysts forecast that Masimo Co. will post 4.1 EPS for the current year.

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.