Inspire Investing LLC Purchases Shares of 2,964 Masimo Co. (NASDAQ:MASI)

Inspire Investing LLC acquired a new position in shares of Masimo Co. (NASDAQ:MASI) during the 3rd quarter, Holdings Channel reports. The fund acquired 2,964 shares of the medical equipment provider’s stock, valued at approximately $395,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its position in Masimo by 40.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 175,510 shares of the medical equipment provider’s stock valued at $20,572,000 after purchasing an additional 50,572 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Masimo by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 4,781,343 shares of the medical equipment provider’s stock valued at $560,421,000 after acquiring an additional 26,473 shares during the last quarter. Riverview Trust Co purchased a new position in Masimo in the first quarter worth about $25,000. Cardinal Capital Management increased its stake in Masimo by 25.1% during the first quarter. Cardinal Capital Management now owns 14,764 shares of the medical equipment provider’s stock worth $2,168,000 after acquiring an additional 2,962 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Masimo by 90.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 46,607 shares of the medical equipment provider’s stock valued at $6,844,000 after purchasing an additional 22,141 shares during the period. 85.96% of the stock is currently owned by institutional investors.

Masimo Stock Performance

MASI stock opened at $144.66 on Friday. Masimo Co. has a twelve month low of $75.36 and a twelve month high of $153.93. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 98.41 and a beta of 0.99. The business’s fifty day simple moving average is $125.67 and its two-hundred day simple moving average is $125.25. The company has a quick ratio of 1.15, a current ratio of 2.09 and a debt-to-equity ratio of 0.55.

Masimo (NASDAQ:MASI) last posted its quarterly 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. The company had revenue of $496.30 million for the quarter, compared to the consensus estimate of $493.92 million. Masimo had a net margin of 3.94% and a return on equity of 14.07%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 EPS. Analysts predict that Masimo Co. will post 3.88 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on MASI. Piper Sandler reiterated an “overweight” rating on shares of Masimo in a report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a research report on Friday, September 20th. Finally, BTIG Research raised 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. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.33.

About Masimo

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.