Public Employees Retirement System of Ohio Reduces Stock Position in Masimo Co. (NASDAQ:MASI)

Public Employees Retirement System of Ohio cut its holdings in Masimo Co. (NASDAQ:MASI) by 4.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,976 shares of the medical equipment provider’s stock after selling 770 shares during the period. Public Employees Retirement System of Ohio’s holdings in Masimo were worth $2,130,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MASI. NBC Securities Inc. increased its stake in Masimo by 47.1% during the third quarter. NBC Securities Inc. now owns 228 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 73 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Masimo by 133.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 350 shares of the medical equipment provider’s stock valued at $44,000 after purchasing an additional 200 shares during the last quarter. HHM Wealth Advisors LLC raised its holdings in Masimo by 25.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider’s stock valued at $79,000 after buying an additional 125 shares during the period. Fifth Third Bancorp lifted its position in Masimo by 16.4% in 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 last quarter. Finally, Headlands Technologies LLC purchased a new position in Masimo during the second quarter worth $109,000. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Masimo Trading Down 1.8 %

NASDAQ:MASI opened at $174.07 on Wednesday. The firm has a 50-day simple moving average of $158.09 and a 200-day simple moving average of $133.59. Masimo Co. has a one year low of $101.61 and a one year high of $180.97. The firm has a market cap of $9.32 billion, a P/E ratio of 120.05 and a beta of 1.01. 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 released its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.84 by $0.14. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The firm had revenue of $504.60 million during the quarter, compared to analyst estimates of $502.87 million. During the same period in the previous year, the company posted $0.63 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts anticipate that Masimo Co. will post 4.03 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on MASI. Piper Sandler raised their target price on shares of Masimo from $165.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Raymond James raised shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price objective for the company in a research note on Wednesday, November 6th. Wells Fargo & Company upped their target price on Masimo from $171.00 to $193.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Stifel Nicolaus reissued a “buy” rating and set a $190.00 price target (up from $170.00) on shares of Masimo in a research note on Friday, November 22nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $170.67.

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.