Readystate Asset Management LP Makes New $3.22 Million Investment in Masimo Co. (NASDAQ:MASI)

Readystate Asset Management LP purchased a new position in shares of Masimo Co. (NASDAQ:MASI) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 27,480 shares of the medical equipment provider’s stock, valued at approximately $3,221,000. Readystate Asset Management LP owned 0.05% of Masimo as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its position in Masimo by 140.6% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 243 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 142 shares during the period. Byrne Asset Management LLC acquired a new position in Masimo during the 4th quarter worth $28,000. DHJJ Financial Advisors Ltd. bought a new stake in shares of Masimo in the 3rd quarter worth $32,000. NBC Securities Inc. bought a new stake in shares of Masimo in the 3rd quarter worth $34,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Masimo by 851.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 295 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 264 shares in the last quarter. Institutional investors and hedge funds own 85.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on MASI. Stifel Nicolaus raised Masimo from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $148.00 to $170.00 in a research note on Monday. StockNews.com raised Masimo from a “sell” rating to a “hold” rating in a research note on Friday, March 29th. Jefferies Financial Group reissued a “hold” rating and issued a $121.00 price objective (up previously from $107.00) on shares of Masimo in a research note on Tuesday, January 30th. Wells Fargo & Company raised Masimo from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $117.00 to $160.00 in a research note on Monday, March 25th. Finally, BTIG Research boosted their target price on Masimo from $145.00 to $166.00 and gave the stock a “buy” rating in a research 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 stock. Based on data from MarketBeat, Masimo currently has an average rating of “Hold” and an average target price of $137.43.

Masimo Trading Down 1.1 %

Shares of Masimo stock traded down $1.56 on Wednesday, reaching $136.62. 221,295 shares of the company were exchanged, compared to its average volume of 584,581. The stock has a fifty day moving average price of $135.65 and a 200-day moving average price of $113.89. The firm has a market capitalization of $7.23 billion, a price-to-earnings ratio of 90.52 and a beta of 0.97. The company has a current ratio of 2.18, a quick ratio of 1.22 and a debt-to-equity ratio of 0.64. Masimo Co. has a fifty-two week low of $75.22 and a fifty-two week high of $198.00.

Masimo (NASDAQ:MASI) last posted its quarterly earnings results 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 firm had revenue of $548.90 million for the quarter, compared to analyst estimates of $545.69 million. Masimo had a return on equity of 13.77% and a net margin of 3.98%. Masimo’s quarterly revenue was down 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.32 earnings per share. On average, analysts expect that Masimo Co. will post 3.51 EPS for the current year.

Masimo Company 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.