Advisors Asset Management Inc. Acquires 501 Shares of Masimo Co. (NASDAQ:MASI)

Advisors Asset Management Inc. boosted its holdings in Masimo Co. (NASDAQ:MASI) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,216 shares of the medical equipment provider’s stock after purchasing an additional 501 shares during the quarter. Advisors Asset Management Inc.’s holdings in Masimo were worth $1,895,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Edgestream Partners L.P. acquired a new position in shares of Masimo during the second quarter valued at about $645,000. Simplify Asset Management Inc. raised its stake in Masimo by 120.4% during the 2nd quarter. Simplify Asset Management Inc. now owns 21,670 shares of the medical equipment provider’s stock worth $2,729,000 after buying an additional 11,838 shares during the period. ING Groep NV boosted its holdings in Masimo by 143.3% in the third quarter. ING Groep NV now owns 240,900 shares of the medical equipment provider’s stock worth $32,119,000 after acquiring an additional 141,900 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Masimo by 42.1% in 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 acquiring an additional 360,497 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Masimo during the third quarter valued at approximately $3,862,000. 85.96% of the stock is owned by institutional investors and hedge funds.

Masimo Trading Up 2.3 %

Shares of MASI stock opened at $172.96 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01. The company has a market capitalization of $9.26 billion, a price-to-earnings ratio of 119.28 and a beta of 0.97. Masimo Co. has a 52-week low of $91.60 and a 52-week high of $174.34. The company has a 50-day simple moving average of $143.48 and a two-hundred day simple moving average of $127.94.

Masimo (NASDAQ:MASI) last released its earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.14. The company had revenue of $504.60 million during the quarter, compared to analyst estimates of $502.87 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. Masimo’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share. Research analysts anticipate that Masimo Co. will post 4.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MASI has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a report on Wednesday, November 6th. Piper Sandler lifted their price objective on shares of Masimo from $165.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. 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 research report on Wednesday, November 6th. BTIG Research raised their price target on shares of Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Raymond James raised Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price objective for the company in a report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $167.00.

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.