Bamco Inc. NY Makes New $50.78 Million Investment in Masimo Co. (NASDAQ:MASI)

Bamco Inc. NY bought a new position in shares of Masimo Co. (NASDAQ:MASI) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 345,800 shares of the medical equipment provider’s stock, valued at approximately $50,781,000. Bamco Inc. NY owned approximately 0.65% of Masimo as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Wells Fargo & Company MN lifted its position in shares of Masimo by 282.0% in the fourth quarter. Wells Fargo & Company MN now owns 116,712 shares of the medical equipment provider’s stock valued at $13,680,000 after acquiring an additional 86,162 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in Masimo by 11.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 54,839 shares of the medical equipment provider’s stock worth $8,053,000 after buying an additional 5,688 shares during the period. Quadrant Capital Group LLC lifted its position in Masimo by 99.0% during the fourth quarter. Quadrant Capital Group LLC now owns 1,389 shares of the medical equipment provider’s stock worth $163,000 after buying an additional 691 shares during the period. Vanguard Group Inc. increased its stake in Masimo by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 4,781,343 shares of the medical equipment provider’s stock worth $560,421,000 after acquiring an additional 26,473 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Masimo by 5.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 301,488 shares of the medical equipment provider’s stock worth $35,339,000 after purchasing an additional 16,042 shares during the period. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MASI has been the topic of several analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a report on Tuesday, July 9th. Stifel Nicolaus upgraded Masimo from a “hold” rating to a “buy” rating and lifted their target price for the stock from $148.00 to $170.00 in a research report on Monday, April 15th. Finally, Piper Sandler upgraded Masimo from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $126.00 to $160.00 in a research report on Monday, June 3rd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.57.

Masimo Price Performance

Shares of MASI stock traded down $0.79 during trading hours on Friday, hitting $108.99. The company had a trading volume of 915,730 shares, compared to its average volume of 670,309. Masimo Co. has a 12 month low of $75.22 and a 12 month high of $153.93. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 74.14 and a beta of 0.97. The firm’s fifty day moving average is $121.53 and its 200 day moving average is $128.47. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.31 and a current ratio of 2.31.

Masimo (NASDAQ:MASI) last released its quarterly earnings results on Tuesday, May 7th. The medical equipment provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The business had revenue of $492.80 million for the quarter, compared to analyst estimates of $487.70 million. Masimo had a return on equity of 13.26% and a net margin of 4.01%. Masimo’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.87 EPS. On average, sell-side analysts predict that Masimo Co. will post 3.63 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.