State of Michigan Retirement System Has $1.35 Million Stock Position in Masimo Co. (NASDAQ:MASI)

State of Michigan Retirement System cut its position in Masimo Co. (NASDAQ:MASI) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,696 shares of the medical equipment provider’s stock after selling 200 shares during the quarter. State of Michigan Retirement System’s holdings in Masimo were worth $1,347,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MASI. Riverview Trust Co bought a new stake in Masimo during the 1st quarter worth approximately $25,000. GAMMA Investing LLC boosted its stake in shares of Masimo by 75.0% in the 2nd quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider’s stock valued at $33,000 after purchasing an additional 111 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Masimo by 851.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 295 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 264 shares during the period. Parallel Advisors LLC raised its stake in Masimo by 48.3% during the fourth quarter. Parallel Advisors LLC now owns 445 shares of the medical equipment provider’s stock worth $52,000 after buying an additional 145 shares during the last quarter. Finally, WASHINGTON TRUST Co acquired a new position in Masimo in the first quarter valued at $67,000. 85.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MASI has been the subject of several research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a research report on Wednesday, August 7th. Piper Sandler boosted their price target on Masimo from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.67.

Masimo Stock Performance

NASDAQ MASI opened at $117.13 on Friday. The company has a market cap of $6.23 billion, a P/E ratio of 79.68 and a beta of 0.97. The company has a fifty day simple moving average of $116.44 and a 200 day simple moving average of $126.94. The company has a current ratio of 2.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.62. Masimo Co. has a 12-month low of $75.22 and a 12-month high of $153.93.

Masimo (NASDAQ:MASI) last posted its earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.77 by $0.09. Masimo had a net margin of 4.01% and a return on equity of 13.26%. The company had revenue of $496.30 million during the quarter, compared to the consensus estimate of $493.92 million. During the same period in the previous year, the firm posted $0.62 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. Sell-side analysts predict that Masimo Co. will post 3.63 earnings per share for the current fiscal year.

Masimo Company 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.