ING Groep NV Boosts Stock Position in Masimo Co. (NASDAQ:MASI)

ING Groep NV grew its stake in shares of Masimo Co. (NASDAQ:MASI) by 143.3% in the third quarter, Holdings Channel reports. The fund owned 240,900 shares of the medical equipment provider’s stock after acquiring an additional 141,900 shares during the quarter. ING Groep NV’s holdings in Masimo were worth $32,119,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Edgestream Partners L.P. purchased a new stake in Masimo during the second quarter valued at about $645,000. Simplify Asset Management Inc. lifted its stake in shares of Masimo by 120.4% during the 2nd quarter. Simplify Asset Management Inc. now owns 21,670 shares of the medical equipment provider’s stock valued at $2,729,000 after buying an additional 11,838 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Masimo by 11.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 54,839 shares of the medical equipment provider’s stock worth $8,053,000 after buying an additional 5,688 shares during the period. Advisors Asset Management Inc. grew its stake in Masimo by 32.1% in the 1st quarter. Advisors Asset Management Inc. now owns 9,009 shares of the medical equipment provider’s stock valued at $1,323,000 after buying an additional 2,187 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in Masimo by 42.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,217,357 shares of the medical equipment provider’s stock valued at $153,314,000 after buying an additional 360,497 shares in the last quarter. Institutional investors own 85.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MASI shares. BTIG Research increased their target price on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Wells Fargo & Company increased their price objective on Masimo from $160.00 to $171.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Raymond James upgraded Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price target on the stock in a research report on Wednesday, November 6th. 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 report on Wednesday, November 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $163.67.

Masimo Price Performance

Shares of NASDAQ:MASI traded down $1.00 on Thursday, hitting $160.68. The company’s stock had a trading volume of 103,776 shares, compared to its average volume of 676,902. Masimo Co. has a 1 year low of $89.18 and a 1 year high of $173.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11. The company has a market capitalization of $8.60 billion, a PE ratio of 111.50 and a beta of 0.97. The company has a 50-day simple moving average of $136.27 and a 200 day simple moving average of $126.54.

Masimo (NASDAQ:MASI) last announced its 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. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The business had revenue of $504.60 million for the quarter, compared to the consensus estimate of $502.87 million. During the same period last year, the firm posted $0.63 earnings per share. Masimo’s quarterly revenue was up 5.4% on a year-over-year basis. Sell-side analysts forecast that Masimo Co. will post 4.04 EPS for the current fiscal 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.