State of Alaska Department of Revenue Raises Stake in Masimo Co. (NASDAQ:MASI)

State of Alaska Department of Revenue lifted its position in Masimo Co. (NASDAQ:MASI) by 7.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,139 shares of the medical equipment provider’s stock after acquiring an additional 345 shares during the quarter. State of Alaska Department of Revenue’s holdings in Masimo were worth $685,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Edgestream Partners L.P. bought a new stake in shares of Masimo in the second quarter valued at about $645,000. Simplify Asset Management Inc. raised its holdings in shares of Masimo by 120.4% in the second quarter. Simplify Asset Management Inc. now owns 21,670 shares of the medical equipment provider’s stock valued at $2,729,000 after acquiring an additional 11,838 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Masimo by 11.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 54,839 shares of the medical equipment provider’s stock valued at $8,053,000 after acquiring an additional 5,688 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Masimo by 32.1% in the first quarter. Advisors Asset Management Inc. now owns 9,009 shares of the medical equipment provider’s stock valued at $1,323,000 after acquiring an additional 2,187 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Masimo by 33.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,196 shares of the medical equipment provider’s stock valued at $6,196,000 after acquiring an additional 10,683 shares in the last quarter. 85.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on MASI shares. Piper Sandler lifted their price objective on Masimo from $165.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday. Wells Fargo & Company boosted their target price on shares of Masimo from $160.00 to $171.00 and gave the stock an “overweight” rating in a report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a report on Wednesday. Raymond James upgraded shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 target price for the company in a report on Wednesday. Finally, BTIG Research boosted their target price 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $152.57.

Masimo Price Performance

Shares of MASI stock opened at $167.63 on Thursday. Masimo Co. has a fifty-two week low of $75.36 and a fifty-two week high of $173.90. The firm has a market capitalization of $8.92 billion, a price-to-earnings ratio of 114.03 and a beta of 0.97. 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’s 50-day simple moving average is $131.74 and its 200-day simple moving average is $125.64.

Masimo (NASDAQ:MASI) last issued its earnings results 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 firm had revenue of $504.60 million for the quarter, compared to analyst estimates of $502.87 million. Masimo had a return on equity of 14.07% and a net margin of 3.94%. Masimo’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 earnings per share. As a group, equities analysts forecast that Masimo Co. will post 3.88 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.