Sumitomo Mitsui Trust Holdings Inc. Has $48.50 Million Stake in Masimo Co. (NASDAQ:MASI)

Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Masimo Co. (NASDAQ:MASI) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 413,815 shares of the medical equipment provider’s stock after buying an additional 8,498 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.78% of Masimo worth $48,503,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. HighTower Advisors LLC boosted its stake in shares of Masimo by 3.5% in the 1st quarter. HighTower Advisors LLC now owns 2,138 shares of the medical equipment provider’s stock valued at $395,000 after purchasing an additional 72 shares in the last quarter. Quantinno Capital Management LP boosted its stake in shares of Masimo by 2.8% in the 4th quarter. Quantinno Capital Management LP now owns 2,719 shares of the medical equipment provider’s stock valued at $402,000 after purchasing an additional 74 shares in the last quarter. Belpointe Asset Management LLC boosted its stake in shares of Masimo by 31.4% in the 1st quarter. Belpointe Asset Management LLC now owns 339 shares of the medical equipment provider’s stock valued at $63,000 after purchasing an additional 81 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Masimo by 20.0% in the 1st quarter. Lazard Asset Management LLC now owns 485 shares of the medical equipment provider’s stock valued at $70,000 after purchasing an additional 81 shares in the last quarter. Finally, State of Michigan Retirement System boosted its stake in shares of Masimo by 0.9% in the 4th quarter. State of Michigan Retirement System now owns 10,696 shares of the medical equipment provider’s stock valued at $1,254,000 after purchasing an additional 100 shares in the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus upgraded shares of Masimo from a “hold” rating to a “buy” rating and raised their price target for the company from $148.00 to $170.00 in a research note on Monday, April 15th. Needham & Company LLC lowered shares of Masimo from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Jefferies Financial Group reiterated a “hold” rating and issued a $121.00 price objective (up previously from $107.00) on shares of Masimo in a report on Tuesday, January 30th. Wells Fargo & Company upgraded shares of Masimo from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $117.00 to $160.00 in a report on Monday, March 25th. Finally, BTIG Research raised their price objective on shares of Masimo from $145.00 to $166.00 and gave the company a “buy” rating in a report on Monday, March 25th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Masimo presently has a consensus rating of “Hold” and an average target price of $137.43.

Masimo Stock Down 0.8 %

Masimo stock opened at $134.77 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.22 and a current ratio of 2.18. Masimo Co. has a 52-week low of $75.22 and a 52-week high of $198.00. The firm has a 50 day moving average price of $135.66 and a two-hundred day moving average price of $114.53. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of 89.25 and a beta of 0.97.

Masimo (NASDAQ:MASI) last released its quarterly earnings data on Tuesday, February 27th. The medical equipment provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.43. The company had revenue of $548.90 million during the quarter, compared to analyst estimates of $545.69 million. Masimo had a net margin of 3.98% and a return on equity of 13.77%. Masimo’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.32 EPS. Equities analysts predict that Masimo Co. will post 3.51 EPS for the current year.

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.