Quarry LP Trims Stock Position in Masimo Co. (NASDAQ:MASI)

Quarry LP lessened its stake in Masimo Co. (NASDAQ:MASI) by 80.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 252 shares of the medical equipment provider’s stock after selling 1,027 shares during the quarter. Quarry LP’s holdings in Masimo were worth $34,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of MASI. NBC Securities Inc. grew its stake in shares of Masimo by 47.1% during the 3rd quarter. NBC Securities Inc. now owns 228 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 73 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings 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 buying an additional 200 shares in the last quarter. HHM Wealth Advisors LLC grew its position in 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 period. Fifth Third Bancorp increased its holdings in Masimo by 16.4% in the second quarter. Fifth Third Bancorp now owns 695 shares of the medical equipment provider’s stock valued at $88,000 after buying an additional 98 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Masimo in the second quarter worth about $109,000. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Masimo Trading Down 0.2 %

Shares of MASI opened at $174.38 on Thursday. Masimo Co. has a 52-week low of $101.61 and a 52-week high of $178.87. The stock has a market cap of $9.34 billion, a PE ratio of 120.26 and a beta of 1.01. The firm’s fifty day moving average is $155.66 and its two-hundred day moving average is $132.50. 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 released its quarterly earnings data on Tuesday, November 5th. The medical equipment provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.14. The company had revenue of $504.60 million during the quarter, compared to the consensus estimate of $502.87 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. Masimo’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 EPS. Research analysts forecast that Masimo Co. will post 4.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MASI has been the topic of a number of analyst reports. Needham & Company LLC restated a “hold” rating on shares of Masimo in a research report on Wednesday, November 6th. Wells Fargo & Company raised their price objective on Masimo from $171.00 to $193.00 and gave the company an “overweight” rating in a report on Wednesday. Piper Sandler upped their target price on Masimo from $165.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Stifel Nicolaus reiterated a “buy” rating and set a $190.00 target price (up previously from $170.00) on shares of Masimo in a research report on Friday, November 22nd. Finally, BTIG Research boosted their price target on shares of Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a report 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.67.

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.