Principal Financial Group Inc. Has $13.67 Million Stock Position in Masimo Co. (NASDAQ:MASI)

Principal Financial Group Inc. lowered its position in shares of Masimo Co. (NASDAQ:MASI) by 31.0% during the third quarter, Holdings Channel reports. The fund owned 102,507 shares of the medical equipment provider’s stock after selling 46,144 shares during the quarter. Principal Financial Group Inc.’s holdings in Masimo were worth $13,667,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Edgestream Partners L.P. acquired a new stake in Masimo during the 2nd quarter valued at $645,000. Simplify Asset Management Inc. boosted its position in shares of Masimo by 120.4% in the second quarter. Simplify Asset Management Inc. now owns 21,670 shares of the medical equipment provider’s stock worth $2,729,000 after buying an additional 11,838 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in shares of Masimo by 11.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 54,839 shares of the medical equipment provider’s stock valued at $8,053,000 after buying an additional 5,688 shares in the last quarter. Advisors Asset Management Inc. raised its position in Masimo by 32.1% during the first quarter. Advisors Asset Management Inc. now owns 9,009 shares of the medical equipment provider’s stock valued at $1,323,000 after buying an additional 2,187 shares during the period. Finally, Thrivent Financial for Lutherans lifted its stake in Masimo by 42.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,217,357 shares of the medical equipment provider’s stock worth $153,314,000 after acquiring an additional 360,497 shares in the last quarter. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Masimo Price Performance

Shares of MASI opened at $161.07 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01. The firm has a market cap of $8.62 billion, a PE ratio of 111.08 and a beta of 0.97. Masimo Co. has a twelve month low of $91.25 and a twelve month high of $173.90. The firm’s 50 day moving average price is $138.18 and its 200 day moving average price is $126.95.

Masimo (NASDAQ:MASI) last issued its quarterly earnings data on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.14. The firm had revenue of $504.60 million during 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%. Masimo’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share. As a group, research analysts expect that Masimo Co. will post 4.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research note on Wednesday, November 6th. BTIG Research raised their price target on shares of Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Piper Sandler upped their price objective on shares of Masimo from $165.00 to $180.00 and gave the company an “overweight” rating in a research note 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 for the company in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company boosted their price target on shares of Masimo from $160.00 to $171.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $163.67.

Masimo 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.