Quest Partners LLC Grows Stock Position in Masimo Co. (NASDAQ:MASI)

Quest Partners LLC grew its position in shares of Masimo Co. (NASDAQ:MASI) by 8,360.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,115 shares of the medical equipment provider’s stock after buying an additional 2,090 shares during the period. Quest Partners LLC’s holdings in Masimo were worth $282,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MASI. Thrivent Financial for Lutherans lifted its holdings in Masimo by 42.1% during 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 purchasing an additional 360,497 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in Masimo by 107.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 677,677 shares of the medical equipment provider’s stock worth $85,347,000 after buying an additional 351,523 shares during the period. Farallon Capital Management LLC grew 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 valued at $218,742,000 after buying an additional 177,914 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in 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 acquiring an additional 165,257 shares during the period. Finally, ING Groep NV lifted its position in shares of Masimo by 143.3% during 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. Institutional investors own 85.96% of the company’s stock.

Masimo Stock Up 2.7 %

MASI stock opened at $177.70 on Tuesday. Masimo Co. has a 1-year low of $91.60 and a 1-year high of $178.11. The stock has a market cap of $9.51 billion, a price-to-earnings ratio of 122.55 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 company’s 50 day moving average is $143.48 and its 200 day moving average is $128.00.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Piper Sandler lifted their price target on Masimo from $165.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Stifel Nicolaus reiterated a “buy” rating and set a $190.00 price target (up from $170.00) on shares of Masimo in a research report on Friday. Wells Fargo & Company raised their price objective on shares of Masimo from $160.00 to $171.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Raymond James raised shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 target price on the stock in a report on Wednesday, November 6th. Finally, 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 report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.