Empowered Funds LLC Makes New Investment in Masimo Co. (NASDAQ:MASI)

Empowered Funds LLC purchased a new stake in shares of Masimo Co. (NASDAQ:MASI) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,095 shares of the medical equipment provider’s stock, valued at approximately $279,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisors Asset Management Inc. boosted its holdings in Masimo by 32.1% during the 1st 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 during the period. Lazard Asset Management LLC boosted its stake in shares of Masimo by 5,730.0% during the first quarter. Lazard Asset Management LLC now owns 583 shares of the medical equipment provider’s stock valued at $85,000 after purchasing an additional 573 shares during the period. Tidal Investments LLC boosted its stake in shares of Masimo by 14.1% during the first quarter. Tidal Investments LLC now owns 2,179 shares of the medical equipment provider’s stock valued at $320,000 after purchasing an additional 269 shares during the period. Farallon Capital Management LLC grew its holdings in shares of Masimo by 13.6% in the first 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 during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Masimo by 75.0% in the second quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider’s stock worth $33,000 after buying an additional 111 shares during the period. 85.96% of the stock is owned by institutional investors.

Masimo Price Performance

MASI opened at $177.70 on Tuesday. Masimo Co. has a 12-month low of $91.60 and a 12-month high of $178.11. The company has a market cap of $9.51 billion, a price-to-earnings ratio of 121.62 and a beta of 0.97. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $143.48 and a two-hundred day simple moving average of $128.00.

Masimo (NASDAQ:MASI) last announced its quarterly earnings data on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.14. The business had revenue of $504.60 million for the quarter, compared to analysts’ expectations of $502.87 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share. Research analysts predict that Masimo Co. will post 4.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on MASI shares. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a research report on Wednesday, November 6th. Piper Sandler increased their target price on shares of Masimo from $165.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Raymond James raised Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 target price on the stock in a research note on Wednesday, November 6th. Stifel Nicolaus reaffirmed a “buy” rating and set a $190.00 price target (up previously from $170.00) on shares of Masimo in a research report on Friday. Finally, BTIG Research lifted their price objective on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $167.00.

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.