Masimo Co. (NASDAQ:MASI) Position Reduced by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its position in shares of Masimo Co. (NASDAQ:MASI) by 6.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,865 shares of the medical equipment provider’s stock after selling 1,667 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Masimo were worth $3,182,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. NBC Securities Inc. lifted its holdings in shares of Masimo by 47.1% in the third quarter. NBC Securities Inc. now owns 228 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 73 shares during the period. GAMMA Investing LLC boosted its position in shares of Masimo by 75.0% during the 2nd quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider’s stock valued at $33,000 after purchasing an additional 111 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Masimo by 133.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 350 shares of the medical equipment provider’s stock worth $44,000 after purchasing an additional 200 shares during the last quarter. HHM Wealth Advisors LLC raised its holdings in shares of Masimo by 25.0% in the 2nd quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider’s stock worth $79,000 after purchasing an additional 125 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in Masimo by 5,730.0% during the first quarter. Lazard Asset Management LLC now owns 583 shares of the medical equipment provider’s stock valued at $85,000 after purchasing an additional 573 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on MASI shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $190.00 price target (up previously 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 note on Monday, October 14th. Wells Fargo & Company boosted their price objective on Masimo from $160.00 to $171.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Finally, Piper Sandler lifted their target price 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. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $167.00.

Masimo Stock Performance

MASI stock opened at $172.96 on Friday. The firm has a 50 day simple moving average of $142.28 and a 200 day simple moving average of $127.76. Masimo Co. has a 52 week low of $91.60 and a 52 week high of $174.34. The stock has a market cap of $9.26 billion, a P/E ratio of 119.28 and a beta of 0.97. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01.

Masimo (NASDAQ:MASI) last posted its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 EPS 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 business had revenue of $504.60 million for the quarter, compared to analysts’ expectations of $502.87 million. During the same period in the previous year, the company posted $0.63 EPS. Masimo’s revenue was up 5.4% on a year-over-year basis. Research analysts anticipate that Masimo Co. will post 4.04 earnings per share for the current fiscal year.

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.