Massachusetts Financial Services Co. MA Buys 70,440 Shares of Masimo Co. (NASDAQ:MASI)

Massachusetts Financial Services Co. MA raised its stake in Masimo Co. (NASDAQ:MASI) by 9.8% during the third quarter, HoldingsChannel.com reports. The fund owned 792,166 shares of the medical equipment provider’s stock after purchasing an additional 70,440 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Masimo were worth $105,619,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Edgestream Partners L.P. purchased a new stake in shares of Masimo in the second quarter worth about $645,000. Simplify Asset Management Inc. increased its stake in Masimo by 120.4% in the 2nd quarter. Simplify Asset Management Inc. now owns 21,670 shares of the medical equipment provider’s stock worth $2,729,000 after acquiring an additional 11,838 shares during the last quarter. ING Groep NV increased its stake in Masimo by 143.3% in the 3rd 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 during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Masimo by 32.1% during the 1st quarter. Advisors Asset Management Inc. now owns 9,009 shares of the medical equipment provider’s stock worth $1,323,000 after acquiring an additional 2,187 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted 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 acquiring an additional 360,497 shares during the last quarter. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Wall Street Analyst Weigh In

MASI has been the topic of several research reports. Piper Sandler boosted their price target on shares of Masimo from $165.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Stifel Nicolaus restated a “buy” rating and issued a $190.00 target price (up from $170.00) on shares of Masimo in a report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a report on Wednesday, November 6th. BTIG Research lifted their price target on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company upped their price objective on Masimo from $160.00 to $171.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Masimo presently has a consensus rating of “Moderate Buy” and an average price target of $167.00.

Masimo Price Performance

MASI stock opened at $172.96 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. Masimo Co. has a 12 month low of $91.60 and a 12 month high of $174.34. The stock has a market cap of $9.26 billion, a PE ratio of 119.28 and a beta of 0.97. The company has a 50-day moving average price of $143.48 and a 200 day moving average price of $128.00.

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

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.