Masimo Co. (NASDAQ:MASI) Shares Purchased by abrdn plc

abrdn plc raised its holdings in shares of Masimo Co. (NASDAQ:MASI) by 91.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,334 shares of the medical equipment provider’s stock after buying an additional 6,862 shares during the period. abrdn plc’s holdings in Masimo were worth $1,680,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Byrne Asset Management LLC purchased a new position in shares of Masimo in the 4th quarter valued at $28,000. Massmutual Trust Co. FSB ADV raised its position in Masimo by 140.6% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 243 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 142 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Masimo during the fourth quarter worth about $36,000. NBC Securities Inc. purchased a new stake in shares of Masimo in the third quarter worth about $34,000. Finally, Fifth Third Bancorp grew its stake in shares of Masimo by 145.8% in the fourth quarter. Fifth Third Bancorp now owns 590 shares of the medical equipment provider’s stock valued at $69,000 after buying an additional 350 shares in the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Jefferies Financial Group reissued a “hold” rating and set a $121.00 price target (up from $107.00) on shares of Masimo in a research report on Tuesday, January 30th. Stifel Nicolaus upgraded shares of Masimo from a “hold” rating to a “buy” rating and upped their target price for the company from $148.00 to $170.00 in a research note on Monday, April 15th. Piper Sandler lifted their price target on shares of Masimo from $70.00 to $117.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. BTIG Research upped their price objective on shares of Masimo from $145.00 to $166.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Finally, StockNews.com upgraded Masimo from a “sell” rating to a “hold” rating in a research note on Friday, March 29th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $137.43.

Masimo Price Performance

Shares of MASI stock opened at $136.20 on Tuesday. The firm has a market cap of $7.21 billion, a P/E ratio of 90.20 and a beta of 0.97. The firm has a fifty day moving average of $135.80 and a two-hundred day moving average of $117.18. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.18 and a quick ratio of 1.22. Masimo Co. has a 1-year low of $75.22 and a 1-year high of $190.82.

Masimo (NASDAQ:MASI) last announced its quarterly earnings data on Tuesday, February 27th. The medical equipment provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.43. Masimo had a return on equity of 13.77% and a net margin of 3.98%. The firm had revenue of $548.90 million during the quarter, compared to analyst estimates of $545.69 million. During the same period in the previous year, the company earned $1.32 earnings per share. Masimo’s quarterly revenue was down 11.0% on a year-over-year basis. As a group, research analysts anticipate that Masimo Co. will post 3.51 earnings per share 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.