KBC Group NV Boosts Stake in Masimo Co. (NASDAQ:MASI)

KBC Group NV lifted its stake in Masimo Co. (NASDAQ:MASI) by 17.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,280 shares of the medical equipment provider’s stock after acquiring an additional 189 shares during the quarter. KBC Group NV’s holdings in Masimo were worth $171,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Farallon Capital Management LLC boosted 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 worth $218,742,000 after buying an additional 177,914 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Masimo by 42.1% in the second quarter. Thrivent Financial for Lutherans now owns 1,217,357 shares of the medical equipment provider’s stock worth $153,314,000 after buying an additional 360,497 shares during the period. Point72 Asset Management L.P. boosted its position 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 buying an additional 351,523 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Masimo by 45.9% in the second quarter. Dimensional Fund Advisors LP now owns 525,594 shares of the medical equipment provider’s stock worth $66,201,000 after acquiring an additional 165,257 shares in the last quarter. Finally, Bamco Inc. NY acquired a new position in shares of Masimo in the first quarter worth about $50,781,000. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Masimo Price Performance

MASI opened at $164.95 on Thursday. The stock has a market cap of $8.83 billion, a price-to-earnings ratio of 113.76 and a beta of 0.97. Masimo Co. has a 1 year low of $91.60 and a 1 year high of $173.90. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The stock has a fifty day moving average price of $140.14 and a 200 day moving average price of $127.20.

Masimo (NASDAQ:MASI) last released its quarterly earnings data 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. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The firm had revenue of $504.60 million during the quarter, compared to analysts’ expectations of $502.87 million. During the same quarter last year, the firm earned $0.63 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts forecast that Masimo Co. will post 4.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on MASI shares. Wells Fargo & Company boosted their price target on Masimo from $160.00 to $171.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Piper Sandler boosted their price target on Masimo from $165.00 to $180.00 and gave the stock an “overweight” rating 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 note on Monday, October 14th. Raymond James upgraded Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price target on the stock in a research note on Wednesday, November 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of Masimo in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $163.67.

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.