Victory Capital Management Inc. Cuts Stock Holdings in Masimo Co. (NASDAQ:MASI)

Victory Capital Management Inc. cut its stake in Masimo Co. (NASDAQ:MASI) by 5.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,240 shares of the medical equipment provider’s stock after selling 576 shares during the period. Victory Capital Management Inc.’s holdings in Masimo were worth $1,232,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Lazard Asset Management LLC boosted its stake in Masimo by 5,730.0% in the first quarter. Lazard Asset Management LLC now owns 583 shares of the medical equipment provider’s stock valued at $85,000 after acquiring an additional 573 shares in the last quarter. Tidal Investments LLC grew its stake in Masimo by 14.1% during the 1st quarter. Tidal Investments LLC now owns 2,179 shares of the medical equipment provider’s stock worth $320,000 after buying an additional 269 shares during the last quarter. Farallon Capital Management LLC grew its stake in Masimo by 13.6% during the 1st quarter. Farallon Capital Management LLC now owns 1,489,563 shares of the medical equipment provider’s stock worth $218,742,000 after buying an additional 177,914 shares during the last quarter. GAMMA Investing LLC increased its position in Masimo by 75.0% during the second quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider’s stock worth $33,000 after buying an additional 111 shares during the period. Finally, Juncture Wealth Strategies LLC lifted its stake in Masimo by 294.3% in the second quarter. Juncture Wealth Strategies LLC now owns 7,992 shares of the medical equipment provider’s stock valued at $1,007,000 after buying an additional 5,965 shares during the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.

Masimo Stock Down 3.1 %

Shares of NASDAQ MASI opened at $172.26 on Wednesday. The stock has a fifty day moving average price of $144.76 and a 200 day moving average price of $128.38. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. Masimo Co. has a 12-month low of $91.60 and a 12-month high of $178.27. The company has a market cap of $9.22 billion, a P/E ratio of 122.55 and a beta of 0.97.

Masimo (NASDAQ:MASI) last released its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.14. The business had revenue of $504.60 million during the quarter, compared to analyst estimates of $502.87 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the business earned $0.63 EPS. Research analysts anticipate that Masimo Co. will post 4.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MASI shares. Piper Sandler increased their price target on shares of Masimo from $165.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Wells Fargo & Company increased their target price on shares of Masimo from $160.00 to $171.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Needham & Company LLC restated a “hold” rating on shares of Masimo in a research report on Wednesday, November 6th. 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 note on Wednesday, November 6th. Finally, BTIG Research lifted their target price on Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $167.00.

About Masimo

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.