Geode Capital Management LLC Buys 11,984 Shares of Masimo Co. (NASDAQ:MASI)

Geode Capital Management LLC boosted its position in Masimo Co. (NASDAQ:MASI) by 1.5% during the third quarter, Holdings Channel reports. The institutional investor owned 792,886 shares of the medical equipment provider’s stock after purchasing an additional 11,984 shares during the quarter. Geode Capital Management LLC’s holdings in Masimo were worth $105,741,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Edgestream Partners L.P. bought a new position in Masimo in the 2nd quarter valued at about $645,000. Simplify Asset Management Inc. grew its stake in Masimo by 120.4% during the second quarter. Simplify Asset Management Inc. now owns 21,670 shares of the medical equipment provider’s stock worth $2,729,000 after buying an additional 11,838 shares in the last quarter. ING Groep NV increased its stake in Masimo by 143.3% in the third quarter. ING Groep NV now owns 240,900 shares of the medical equipment provider’s stock valued at $32,119,000 after acquiring an additional 141,900 shares during the last quarter. Westfield Capital Management Co. LP increased its stake in shares of Masimo by 23.2% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,394,056 shares of the medical equipment provider’s stock valued at $185,869,000 after purchasing an additional 262,370 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Masimo by 42.1% during 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 acquiring an additional 360,497 shares in the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MASI shares. Raymond James raised shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price target for the company in a research note on Wednesday, November 6th. Wells Fargo & Company boosted their target price on Masimo from $171.00 to $193.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research note on Wednesday, November 6th. Stifel Nicolaus reissued a “buy” rating and issued a $190.00 price target (up from $170.00) on shares of Masimo in a research report on Friday, November 22nd. Finally, BTIG Research lifted their price target 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 stock. According to data from MarketBeat, Masimo currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.67.

Masimo Stock Performance

Shares of MASI opened at $170.63 on Thursday. The business has a 50-day simple moving average of $159.31 and a two-hundred day simple moving average of $134.19. The stock has a market cap of $9.14 billion, a price-to-earnings ratio of 117.68 and a beta of 1.01. The company has a quick ratio of 1.11, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. Masimo Co. has a 52 week low of $101.61 and a 52 week high of $180.97.

Masimo (NASDAQ:MASI) last posted its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.14. The business had revenue of $504.60 million during the quarter, compared to the consensus estimate of $502.87 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 EPS. On average, analysts expect that Masimo Co. will post 4.03 EPS for the current 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.