Oppenheimer Asset Management Inc. Makes New Investment in Masimo Co. (NASDAQ:MASI)

Oppenheimer Asset Management Inc. purchased a new stake in shares of Masimo Co. (NASDAQ:MASI) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,584 shares of the medical equipment provider’s stock, valued at approximately $478,000.

Several other hedge funds have also made changes to their positions in MASI. Versor Investments LP raised its stake in Masimo by 81.7% during the 3rd quarter. Versor Investments LP now owns 9,591 shares of the medical equipment provider’s stock valued at $1,279,000 after purchasing an additional 4,313 shares during the period. State of New Jersey Common Pension Fund D grew its holdings in shares of Masimo by 1.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 16,736 shares of the medical equipment provider’s stock valued at $2,231,000 after buying an additional 194 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Masimo by 14.4% during the third quarter. Crossmark Global Holdings Inc. now owns 3,248 shares of the medical equipment provider’s stock valued at $433,000 after buying an additional 409 shares in the last quarter. Montanaro Asset Management Ltd raised its position in Masimo by 3.7% during the third quarter. Montanaro Asset Management Ltd now owns 55,700 shares of the medical equipment provider’s stock valued at $7,426,000 after buying an additional 2,000 shares during the period. Finally, Assetmark Inc. lifted its stake in Masimo by 12.7% in the 3rd quarter. Assetmark Inc. now owns 1,183 shares of the medical equipment provider’s stock worth $158,000 after acquiring an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Masimo Price Performance

NASDAQ:MASI opened at $163.50 on Wednesday. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of 112.76 and a beta of 0.97. The company has a 50-day moving average of $139.17 and a 200-day moving average of $127.02. Masimo Co. has a 52 week low of $91.60 and a 52 week high of $173.90. 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 data on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.14. The company had revenue of $504.60 million for the quarter, compared to analyst estimates of $502.87 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The company’s revenue 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. As a group, equities research analysts anticipate that Masimo Co. will post 4.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

MASI has been the topic of a number of research reports. Wells Fargo & Company upped their target price on Masimo from $160.00 to $171.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. BTIG Research upped their price objective on shares of Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Piper Sandler lifted their target price on shares of Masimo from $165.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research note on Wednesday, November 6th. Finally, Raymond James raised Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price objective for the company in a research report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $163.67.

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.