Principal Financial Group Inc. Decreases Holdings in Masimo Co. (NASDAQ:MASI)

Principal Financial Group Inc. lowered its stake in shares of Masimo Co. (NASDAQ:MASI) by 31.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,507 shares of the medical equipment provider’s stock after selling 46,144 shares during the period. Principal Financial Group Inc. owned about 0.19% of Masimo worth $13,667,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. NBC Securities Inc. increased its stake in Masimo by 47.1% during the 3rd quarter. NBC Securities Inc. now owns 228 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 73 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Masimo by 133.3% during the second 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 in the last quarter. HHM Wealth Advisors LLC raised its stake in Masimo by 25.0% in the 2nd quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider’s stock valued at $79,000 after purchasing an additional 125 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Masimo during the 2nd quarter worth $109,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Masimo during the 3rd quarter worth $118,000. Institutional investors and hedge funds own 85.96% of the company’s stock.

Masimo Stock Performance

Shares of MASI stock opened at $170.97 on Friday. The firm has a 50 day moving average of $162.96 and a two-hundred day moving average of $136.30. The stock has a market capitalization of $9.15 billion, a PE ratio of 117.91 and a beta of 1.01. The company has a quick ratio of 1.11, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. Masimo Co. has a 52 week low of $101.61 and a 52 week high of $180.97.

Masimo (NASDAQ:MASI) last released its earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.14. The firm had revenue of $504.60 million during the quarter, compared to analyst estimates of $502.87 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. Masimo’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business posted $0.63 earnings per share. On average, research analysts predict that Masimo Co. will post 4.03 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus restated a “buy” rating and set a $190.00 price target (up from $170.00) on shares of Masimo in a research report on Friday, November 22nd. BTIG Research lifted their target price on shares of Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Raymond James lifted their target price on Masimo from $170.00 to $194.00 and gave the company an “outperform” rating in a research report on Friday. Wells Fargo & Company upped their price objective on shares of Masimo from $171.00 to $193.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Piper Sandler lifted their target price on shares of Masimo from $180.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Masimo has a consensus rating of “Moderate Buy” and a consensus target price of $179.67.

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.