Allspring Global Investments Holdings LLC Increases Stock Position in Masimo Co. (NASDAQ:MASI)

Allspring Global Investments Holdings LLC grew its holdings in shares of Masimo Co. (NASDAQ:MASI) by 5,340.9% in the third quarter, HoldingsChannel reports. The fund owned 2,394 shares of the medical equipment provider’s stock after purchasing an additional 2,350 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Masimo were worth $319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Farallon Capital Management LLC lifted its stake in Masimo by 13.6% in the 1st quarter. Farallon Capital Management LLC now owns 1,489,563 shares of the medical equipment provider’s stock worth $218,742,000 after purchasing an additional 177,914 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Masimo by 42.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,217,357 shares of the medical equipment provider’s stock valued at $153,314,000 after buying an additional 360,497 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Masimo by 107.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 677,677 shares of the medical equipment provider’s stock valued at $85,347,000 after buying an additional 351,523 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Masimo by 45.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 525,594 shares of the medical equipment provider’s stock valued at $66,201,000 after buying an additional 165,257 shares in the last quarter. Finally, Bamco Inc. NY purchased a new stake in shares of Masimo during the 1st quarter valued at about $50,781,000. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on MASI. BTIG Research upped their target price 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. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a report on Friday, September 20th. Finally, Piper Sandler reissued an “overweight” rating on shares of Masimo in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Masimo has a consensus rating of “Moderate Buy” and a consensus price target of $145.33.

Masimo Stock Performance

Masimo stock opened at $144.22 on Friday. The firm has a market capitalization of $7.67 billion, a P/E ratio of 98.11 and a beta of 0.97. The company’s 50-day moving average is $129.44 and its 200 day moving average is $125.22. Masimo Co. has a 1-year low of $75.36 and a 1-year high of $153.93. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.09 and a quick ratio of 1.15.

Masimo (NASDAQ:MASI) last issued its earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. The business had revenue of $496.30 million for the quarter, compared to analyst estimates of $493.92 million. Masimo had a net margin of 3.94% and a return on equity of 14.07%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company posted $0.62 earnings per share. Research analysts forecast that Masimo Co. will post 3.88 EPS for the current year.

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.