Simplify Asset Management Inc. Raises Stock Position in Masimo Co. (NASDAQ:MASI)

Simplify Asset Management Inc. grew its position in Masimo Co. (NASDAQ:MASI) by 120.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,670 shares of the medical equipment provider’s stock after buying an additional 11,838 shares during the period. Simplify Asset Management Inc.’s holdings in Masimo were worth $2,729,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Intech Investment Management LLC purchased a new position in Masimo in the second quarter worth approximately $1,294,000. Hsbc Holdings PLC raised its holdings in Masimo by 382.5% in the 2nd quarter. Hsbc Holdings PLC now owns 27,609 shares of the medical equipment provider’s stock valued at $3,510,000 after buying an additional 21,887 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in Masimo by 3.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,374 shares of the medical equipment provider’s stock valued at $677,000 after buying an additional 166 shares during the last quarter. Sofinnova Investments Inc. boosted its stake in Masimo by 0.8% during the second quarter. Sofinnova Investments Inc. now owns 20,161 shares of the medical equipment provider’s stock worth $2,539,000 after buying an additional 161 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in shares of Masimo in the second quarter valued at $645,000. Institutional investors and hedge funds own 85.96% of the company’s stock.

Masimo Stock Down 2.3 %

MASI opened at $111.73 on Friday. The stock has a market capitalization of $5.94 billion, a P/E ratio of 76.01 and a beta of 0.98. Masimo Co. has a one year low of $75.22 and a one year high of $153.93. The business’s 50-day simple moving average is $114.82 and its 200-day simple moving average is $125.08. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 2.09.

Masimo (NASDAQ:MASI) last posted its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.77 by $0.09. Masimo had a return on equity of 14.07% and a net margin of 3.94%. The firm had revenue of $496.30 million during the quarter, compared to the consensus estimate of $493.92 million. During the same period in the prior year, the business earned $0.62 EPS. The firm’s revenue was up 9.0% compared to the same quarter last year. Analysts anticipate that Masimo Co. will post 3.87 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MASI shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research report on Wednesday, August 7th. Piper Sandler upped their target price on shares of Masimo from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.67.

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.