Retirement Systems of Alabama Lowers Position in Masimo Co. (NASDAQ:MASI)

Retirement Systems of Alabama trimmed its position in Masimo Co. (NASDAQ:MASI) by 0.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 144,238 shares of the medical equipment provider’s stock after selling 700 shares during the period. Retirement Systems of Alabama owned 0.27% of Masimo worth $18,165,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Riverview Trust Co purchased a new stake in shares of Masimo in the 1st quarter worth about $25,000. GAMMA Investing LLC grew its holdings in 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 purchasing an additional 111 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Masimo by 851.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 295 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 264 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Masimo by 48.3% during the fourth quarter. Parallel Advisors LLC now owns 445 shares of the medical equipment provider’s stock valued at $52,000 after purchasing an additional 145 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd boosted its position in shares of Masimo by 2,888.9% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 538 shares of the medical equipment provider’s stock worth $62,000 after purchasing an additional 520 shares in the last quarter. Institutional investors own 85.96% of the company’s stock.

Masimo Stock Performance

MASI stock opened at $119.94 on Friday. The stock’s 50 day simple moving average is $117.82 and its 200 day simple moving average is $127.39. The company has a current ratio of 2.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.62. Masimo Co. has a 12-month low of $75.22 and a 12-month high of $153.93. The stock has a market capitalization of $6.38 billion, a PE ratio of 81.59 and a beta of 0.97.

Masimo (NASDAQ:MASI) last announced its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.09. Masimo had a return on equity of 13.26% and a net margin of 4.01%. The firm had revenue of $496.30 million for the quarter, compared to the consensus estimate of $493.92 million. During the same period in the prior year, the company posted $0.62 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, research analysts forecast that Masimo Co. will post 3.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research report on Wednesday, August 7th. Piper Sandler increased their target price on Masimo from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Masimo has an average rating of “Moderate Buy” and an average target price of $144.67.

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.