Paloma Partners Management Co Purchases New Shares in Masimo Co. (NASDAQ:MASI)

Paloma Partners Management Co acquired a new position in shares of Masimo Co. (NASDAQ:MASI) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,504 shares of the medical equipment provider’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MASI. Vanguard Group Inc. raised its position in shares of Masimo by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 4,781,343 shares of the medical equipment provider’s stock worth $560,421,000 after purchasing an additional 26,473 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Masimo by 6.4% during the fourth quarter. Capital Research Global Investors now owns 2,269,189 shares of the medical equipment provider’s stock valued at $265,972,000 after acquiring an additional 136,617 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Masimo by 6.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,607,310 shares of the medical equipment provider’s stock valued at $188,393,000 after acquiring an additional 93,861 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Masimo by 59.6% in the fourth quarter. Schroder Investment Management Group now owns 877,539 shares of the medical equipment provider’s stock worth $102,856,000 after acquiring an additional 327,863 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its position in shares of Masimo by 35.6% during the fourth quarter. Westfield Capital Management Co. LP now owns 818,476 shares of the medical equipment provider’s stock worth $95,934,000 after purchasing an additional 214,795 shares in the last quarter. 85.96% of the stock is owned by hedge funds and other institutional investors.

Masimo Trading Down 1.6 %

Shares of MASI traded down $1.75 during mid-day trading on Tuesday, reaching $106.34. The stock had a trading volume of 89,030 shares, compared to its average volume of 646,557. Masimo Co. has a 52-week low of $75.22 and a 52-week high of $153.93. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of 73.53 and a beta of 0.97. The business’s fifty day moving average is $121.16 and its 200 day moving average is $128.44. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.31 and a quick ratio of 1.31.

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

Analyst Ratings Changes

A number of brokerages have weighed in on MASI. Piper Sandler upgraded Masimo from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $126.00 to $160.00 in a report on Monday, June 3rd. Stifel Nicolaus raised shares of Masimo from a “hold” rating to a “buy” rating and raised their price target for the stock from $148.00 to $170.00 in a research note on Monday, April 15th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research note on Tuesday, July 9th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Masimo presently has an average rating of “Moderate Buy” and a consensus price target of $143.57.

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.