Deerfield Management Company L.P. Series C Purchases Shares of 1,848 Masimo Co. (NASDAQ:MASI)

Deerfield Management Company L.P. Series C acquired a new position in shares of Masimo Co. (NASDAQ:MASI) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,848 shares of the medical equipment provider’s stock, valued at approximately $233,000.

Other institutional investors have also recently made changes to their positions in the company. 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 buying an additional 360,497 shares during the period. Point72 Asset Management L.P. grew its position in shares of Masimo by 107.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 677,677 shares of the medical equipment provider’s stock valued at $85,347,000 after acquiring an additional 351,523 shares during the period. Bamco Inc. NY purchased a new position in shares of Masimo in the 1st quarter valued at about $50,781,000. Schroder Investment Management Group raised its holdings in Masimo by 59.6% in the 4th quarter. Schroder Investment Management Group now owns 877,539 shares of the medical equipment provider’s stock worth $102,856,000 after purchasing an additional 327,863 shares during the period. Finally, Farallon Capital Management LLC boosted its position in Masimo by 13.6% during the first quarter. Farallon Capital Management LLC now owns 1,489,563 shares of the medical equipment provider’s stock worth $218,742,000 after purchasing an additional 177,914 shares in the last quarter. 85.96% of the stock is owned by hedge funds and other institutional investors.

Masimo Stock Up 0.1 %

Shares of MASI opened at $133.20 on Friday. The stock has a 50 day moving average price of $117.20 and a 200 day moving average price of $125.00. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 2.09. The stock has a market capitalization of $7.08 billion, a price-to-earnings ratio of 90.61 and a beta of 0.98. Masimo Co. has a one year low of $75.22 and a one year high of $153.93.

Masimo (NASDAQ:MASI) last posted its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.09. Masimo had a net margin of 3.94% and a return on equity of 14.07%. The firm had revenue of $496.30 million for the quarter, compared to the consensus estimate of $493.92 million. During the same period last year, the firm posted $0.62 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities research analysts forecast that Masimo Co. will post 3.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Piper Sandler upped their target price on Masimo from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Needham & Company LLC restated a “hold” rating on shares of Masimo in a research report on Friday, September 20th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $144.67.

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.