27,480 Shares in Masimo Co. (NASDAQ:MASI) Bought by Readystate Asset Management LP

Readystate Asset Management LP purchased a new stake in Masimo Co. (NASDAQ:MASI) during the 4th quarter, Holdings Channel.com reports. The firm purchased 27,480 shares of the medical equipment provider’s stock, valued at approximately $3,221,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of MASI. Massachusetts Financial Services Co. MA acquired a new stake in shares of Masimo in the 3rd quarter valued at about $132,699,000. Eminence Capital LP bought a new position in shares of Masimo in the 3rd quarter valued at about $90,859,000. T. Rowe Price Investment Management Inc. bought a new position in shares of Masimo in the 4th quarter valued at about $80,154,000. Goldman Sachs Group Inc. grew its holdings in shares of Masimo by 92.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 856,664 shares of the medical equipment provider’s stock valued at $111,940,000 after acquiring an additional 410,793 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Masimo by 176.7% in the 4th quarter. Point72 Asset Management L.P. now owns 516,356 shares of the medical equipment provider’s stock valued at $60,522,000 after acquiring an additional 329,712 shares in the last quarter. Institutional investors and hedge funds own 85.96% of the company’s stock.

Masimo Stock Performance

Shares of NASDAQ:MASI traded down $1.56 during trading on Wednesday, reaching $136.62. 221,295 shares of the stock were exchanged, compared to its average volume of 584,581. Masimo Co. has a 12 month low of $75.22 and a 12 month high of $198.00. The firm has a market cap of $7.23 billion, a PE ratio of 90.52 and a beta of 0.97. The stock has a 50-day moving average price of $135.65 and a 200-day moving average price of $113.89. The company has a current ratio of 2.18, a quick ratio of 1.22 and a debt-to-equity ratio of 0.64.

Masimo (NASDAQ:MASI) last issued its quarterly earnings data on Tuesday, February 27th. The medical equipment provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.43. Masimo had a return on equity of 13.77% and a net margin of 3.98%. The company had revenue of $548.90 million during the quarter, compared to analysts’ expectations of $545.69 million. During the same quarter in the previous year, the company posted $1.32 earnings per share. The business’s revenue was down 11.0% on a year-over-year basis. Research analysts expect that Masimo Co. will post 3.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on MASI. Wells Fargo & Company upgraded Masimo from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $117.00 to $160.00 in a report on Monday, March 25th. Stifel Nicolaus upgraded Masimo from a “hold” rating to a “buy” rating and lifted their price target for the stock from $148.00 to $170.00 in a report on Monday. BTIG Research lifted their price target on Masimo from $145.00 to $166.00 and gave the stock a “buy” rating in a report on Monday, March 25th. Needham & Company LLC cut Masimo from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Finally, Piper Sandler lifted their price target on Masimo from $70.00 to $117.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Masimo presently has a consensus rating of “Hold” and an average price target of $137.43.

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.