Empowered Funds LLC Acquires Shares of 2,095 Masimo Co. (NASDAQ:MASI)

Empowered Funds LLC bought a new stake in Masimo Co. (NASDAQ:MASI) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,095 shares of the medical equipment provider’s stock, valued at approximately $279,000.

A number of other institutional investors have also recently made changes to their positions in MASI. Thrivent Financial for Lutherans increased its holdings 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 during the last quarter. Point72 Asset Management L.P. increased its stake in shares of Masimo by 107.8% in the second quarter. Point72 Asset Management L.P. now owns 677,677 shares of the medical equipment provider’s stock worth $85,347,000 after purchasing an additional 351,523 shares in the last quarter. Farallon Capital Management LLC raised its position in shares of Masimo by 13.6% in the first quarter. Farallon Capital Management LLC now owns 1,489,563 shares of the medical equipment provider’s stock valued at $218,742,000 after purchasing an additional 177,914 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Masimo by 45.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 525,594 shares of the medical equipment provider’s stock valued at $66,201,000 after buying an additional 165,257 shares in the last quarter. Finally, ING Groep NV boosted its holdings in Masimo by 143.3% in the 3rd quarter. ING Groep NV now owns 240,900 shares of the medical equipment provider’s stock worth $32,119,000 after buying an additional 141,900 shares during the period. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MASI. Wells Fargo & Company boosted their target price on shares of Masimo from $160.00 to $171.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Stifel Nicolaus reiterated a “buy” rating and set a $190.00 price objective (up from $170.00) on shares of Masimo in a research note on Friday. Raymond James upgraded 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. Piper Sandler upped their price target on Masimo from $165.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Masimo in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Masimo currently has an average rating of “Moderate Buy” and a consensus target price of $167.00.

Masimo Price Performance

Shares of NASDAQ:MASI opened at $177.70 on Tuesday. Masimo Co. has a one year low of $91.60 and a one year high of $178.11. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11. The firm has a market capitalization of $9.51 billion, a price-to-earnings ratio of 121.62 and a beta of 0.97. The company’s fifty day moving average price is $143.48 and its 200-day moving average price is $128.00.

Masimo (NASDAQ:MASI) last released its earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.14. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The business had revenue of $504.60 million for the quarter, compared to analysts’ expectations of $502.87 million. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. On average, equities research analysts anticipate that Masimo Co. will post 4.04 earnings per share for the current fiscal year.

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.