Masimo Co. (NASDAQ:MASI) Shares Sold by Pitcairn Co.

Pitcairn Co. decreased its position in shares of Masimo Co. (NASDAQ:MASI) by 9.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,635 shares of the medical equipment provider’s stock after selling 163 shares during the quarter. Pitcairn Co.’s holdings in Masimo were worth $218,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MASI. NBC Securities Inc. boosted 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 valued at $30,000 after purchasing an additional 73 shares during the period. Fifth Third Bancorp boosted its position in shares of Masimo by 16.4% during the second quarter. Fifth Third Bancorp now owns 695 shares of the medical equipment provider’s stock worth $88,000 after buying an additional 98 shares during the period. Oak Thistle LLC grew its holdings in Masimo by 5.2% in the 2nd quarter. Oak Thistle LLC now owns 2,079 shares of the medical equipment provider’s stock worth $262,000 after buying an additional 103 shares in the last quarter. GAMMA Investing LLC increased its position in Masimo by 75.0% in the 2nd quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider’s stock valued at $33,000 after acquiring an additional 111 shares during the period. Finally, HHM Wealth Advisors LLC increased its position 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 acquiring an additional 125 shares during the period. Institutional investors own 85.96% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on MASI. Piper Sandler increased 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. Stifel Nicolaus reiterated a “buy” rating and issued a $190.00 target price (up previously from $170.00) on shares of Masimo in a research report on Friday, November 22nd. Wells Fargo & Company raised their target price on shares of Masimo from $160.00 to $171.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Raymond James upgraded shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price objective for the company in a report on Wednesday, November 6th. Finally, BTIG Research boosted their target price on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Masimo presently has an average rating of “Moderate Buy” and an average target price of $167.00.

Masimo Trading Down 0.8 %

Masimo stock opened at $170.89 on Thursday. Masimo Co. has a 1 year low of $91.60 and a 1 year high of $178.27. The firm’s 50 day moving average price is $147.03 and its two-hundred day moving average price is $129.03. The firm has a market cap of $9.15 billion, a price-to-earnings ratio of 117.86 and a beta of 0.97. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01.

Masimo (NASDAQ:MASI) last announced its earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share (EPS) for the quarter, topping 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 company had revenue of $504.60 million for the quarter, compared to analyst estimates of $502.87 million. During the same period in the previous year, the firm earned $0.63 earnings per share. Masimo’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, research analysts predict 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.