Tidal Investments LLC Invests $319,000 in Masimo Co. (NASDAQ:MASI)

Tidal Investments LLC purchased a new position in shares of Masimo Co. (NASDAQ:MASI) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,389 shares of the medical equipment provider’s stock, valued at approximately $319,000.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in Masimo by 41.2% in the third 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 during the period. State Street Corp lifted its stake in shares of Masimo by 0.7% in the third quarter. State Street Corp now owns 1,438,814 shares of the medical equipment provider’s stock valued at $191,837,000 after purchasing an additional 10,179 shares during the period. Westfield Capital Management Co. LP boosted its holdings in Masimo by 23.2% during the third quarter. Westfield Capital Management Co. LP now owns 1,394,056 shares of the medical equipment provider’s stock worth $185,869,000 after buying an additional 262,370 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 worth $153,314,000 after buying an additional 360,497 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Masimo by 1.5% in the third quarter. Geode Capital Management LLC now owns 792,886 shares of the medical equipment provider’s stock valued at $105,741,000 after buying an additional 11,984 shares in the last quarter. 85.96% of the stock is owned by hedge funds and other institutional investors.

Masimo Price Performance

Shares of NASDAQ:MASI opened at $168.31 on Wednesday. The business has a fifty day simple moving average of $160.91 and a 200-day simple moving average of $135.13. 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 $9.01 billion, a P/E ratio of 116.08 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 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. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The company had revenue of $504.60 million during the quarter, compared to the consensus estimate of $502.87 million. During the same quarter in the prior year, the company posted $0.63 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts forecast that Masimo Co. will post 4.03 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. BTIG Research boosted their price target on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Piper Sandler boosted their target price on Masimo from $180.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Raymond James upgraded Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price target for the company in a research report on Wednesday, November 6th. Stifel Nicolaus reiterated a “buy” rating and issued a $190.00 price objective (up from $170.00) on shares of Masimo in a research report on Friday, November 22nd. Finally, Wells Fargo & Company raised their target price on shares of Masimo from $171.00 to $193.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Masimo currently has an average rating of “Moderate Buy” and a consensus price target of $175.67.

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.