Arizona State Retirement System Increases Stock Position in Masimo Co. (NASDAQ:MASI)

Arizona State Retirement System increased its position in shares of Masimo Co. (NASDAQ:MASI) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,183 shares of the medical equipment provider’s stock after buying an additional 166 shares during the period. Arizona State Retirement System’s holdings in Masimo were worth $2,179,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp acquired a new position in Masimo during the fourth quarter worth $27,000. UMB Bank n.a. raised its position in Masimo by 180.9% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the medical equipment provider’s stock worth $32,000 after acquiring an additional 123 shares during the period. Trust Co. of Vermont acquired a new position in Masimo during the fourth quarter worth $33,000. Blue Trust Inc. raised its position in Masimo by 56.3% during the fourth quarter. Blue Trust Inc. now owns 197 shares of the medical equipment provider’s stock worth $33,000 after acquiring an additional 71 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in Masimo by 31.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 250 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 60 shares during the period. 85.96% of the stock is owned by hedge funds and other institutional investors.

Masimo Price Performance

Masimo stock opened at $165.45 on Tuesday. Masimo Co. has a 12-month low of $101.61 and a 12-month high of $194.88. The stock has a market cap of $8.93 billion, a P/E ratio of 114.10 and a beta of 1.04. The company has a 50-day moving average price of $174.89 and a 200 day moving average price of $156.55. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50.

Masimo (NASDAQ:MASI) last released its quarterly earnings data on Tuesday, February 25th. The medical equipment provider reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.38. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The firm had revenue of $600.70 million during the quarter, compared to analysts’ expectations of $593.35 million. Sell-side analysts anticipate that Masimo Co. will post 4.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Masimo from $193.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Stifel Nicolaus restated a “buy” rating and set a $190.00 price objective (up from $170.00) on shares of Masimo in a research report on Friday, November 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a research report on Wednesday, February 26th. Piper Sandler increased their target price on shares of Masimo from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, Raymond James increased their target price on shares of Masimo from $170.00 to $194.00 and gave the company an “outperform” rating in a research report on Friday, December 27th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Masimo currently has an average rating of “Moderate Buy” and an average target price of $194.80.

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.