Masimo Co. (NASDAQ:MASI) Stake Lowered by Principal Financial Group Inc.

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

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MASI shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a report on Wednesday, November 6th. Raymond James raised Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 target price on the stock in a research note on Wednesday, November 6th. BTIG Research boosted their price target on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Piper Sandler raised their price target on Masimo from $165.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company upped their price objective on shares of Masimo from $160.00 to $171.00 and gave the stock an “overweight” rating in a 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $163.67.

Masimo Trading Up 0.6 %

Shares of Masimo stock opened at $161.07 on Friday. The business has a fifty day simple moving average of $138.18 and a 200-day simple moving average of $126.95. The firm has a market cap of $8.62 billion, a price-to-earnings ratio of 111.08 and a beta of 0.97. Masimo Co. has a fifty-two week low of $91.25 and a fifty-two week high of $173.90. 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 (NASDAQ:MASI) last posted its quarterly earnings data on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share 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 company had revenue of $504.60 million during the quarter, compared to analyst estimates of $502.87 million. During the same quarter last year, the firm posted $0.63 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities analysts forecast that Masimo Co. will post 4.04 EPS for the current fiscal year.

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.