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

Logan Capital Management Inc. cut its position in shares of Masimo Co. (NASDAQ:MASI) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,352 shares of the medical equipment provider’s stock after selling 693 shares during the quarter. Logan Capital Management Inc. owned about 0.09% of Masimo worth $6,713,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. NBC Securities Inc. lifted its holdings in shares of Masimo by 47.1% during the 3rd quarter. NBC Securities Inc. now owns 228 shares of the medical equipment provider’s stock valued at $30,000 after acquiring an additional 73 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Masimo by 133.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 350 shares of the medical equipment provider’s stock worth $44,000 after purchasing an additional 200 shares in the last quarter. HHM Wealth Advisors LLC boosted its position in shares of Masimo by 25.0% in the second quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider’s stock worth $79,000 after buying an additional 125 shares during the period. Fifth Third Bancorp grew its stake in shares of Masimo by 16.4% in the second quarter. Fifth Third Bancorp now owns 695 shares of the medical equipment provider’s stock valued at $88,000 after buying an additional 98 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Masimo during the 2nd quarter valued at about $109,000. 85.96% of the stock is owned by institutional investors and hedge funds.

Masimo Stock Down 0.3 %

Masimo stock traded down $0.54 during midday trading on Friday, hitting $174.54. The stock had a trading volume of 11,381 shares, compared to its average volume of 662,404. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The business has a fifty day moving average price of $156.51 and a 200 day moving average price of $132.80. Masimo Co. has a 12 month low of $101.61 and a 12 month high of $178.87. The stock has a market cap of $9.34 billion, a P/E ratio of 120.74 and a beta of 1.01.

Masimo (NASDAQ:MASI) last posted its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.14. The business 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 business’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. Research analysts predict that Masimo Co. will post 4.03 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on MASI. Stifel Nicolaus restated a “buy” rating and issued a $190.00 price target (up previously from $170.00) on shares of Masimo in a report on Friday, November 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a report on Wednesday, November 6th. Wells Fargo & Company boosted their price objective on shares of Masimo from $171.00 to $193.00 and gave the stock an “overweight” rating in a report on Wednesday. Raymond James upgraded Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 target price for the company in a research note on Wednesday, November 6th. Finally, Piper Sandler increased their price target on Masimo from $165.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $170.67.

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.