Bamco Inc. NY Makes New $50.78 Million Investment in Masimo Co. (NASDAQ:MASI)

Bamco Inc. NY bought a new position in shares of Masimo Co. (NASDAQ:MASI) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 345,800 shares of the medical equipment provider’s stock, valued at approximately $50,781,000.

Other large investors also recently bought and sold shares of the company. Pacer Advisors Inc. lifted its stake in Masimo by 80.6% during the 4th quarter. Pacer Advisors Inc. now owns 6,672 shares of the medical equipment provider’s stock valued at $782,000 after acquiring an additional 2,978 shares during the period. Fifth Third Bancorp lifted its stake in Masimo by 145.8% during the 4th quarter. Fifth Third Bancorp now owns 590 shares of the medical equipment provider’s stock valued at $69,000 after acquiring an additional 350 shares during the period. Oak Thistle LLC acquired a new stake in Masimo during the 4th quarter valued at approximately $496,000. State of Michigan Retirement System lifted its stake in Masimo by 0.9% during 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 acquiring an additional 100 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its stake in Masimo by 2.8% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 35,900 shares of the medical equipment provider’s stock valued at $4,204,000 after acquiring an additional 970 shares during the period. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Masimo Price Performance

Shares of Masimo stock traded down $0.79 on Friday, hitting $108.99. The company’s stock had a trading volume of 915,730 shares, compared to its average volume of 670,309. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.31 and a current ratio of 2.31. Masimo Co. has a 1 year low of $75.22 and a 1 year high of $153.93. The firm has a fifty day moving average price of $121.53 and a 200-day moving average price of $128.47. The company has a market capitalization of $5.80 billion, a price-to-earnings ratio of 74.14 and a beta of 0.97.

Masimo (NASDAQ:MASI) last announced its quarterly earnings results on Tuesday, May 7th. The medical equipment provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.06. Masimo had a return on equity of 13.26% and a net margin of 4.01%. The firm had revenue of $492.80 million during the quarter, compared to analyst estimates of $487.70 million. During the same quarter in the previous year, the business earned $0.87 EPS. Masimo’s revenue for the quarter was down 12.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Masimo Co. will post 3.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MASI shares. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a research note on Tuesday, July 9th. 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 report on Monday, April 15th. Finally, Piper Sandler upgraded shares of Masimo from a “neutral” rating to an “overweight” rating and raised their price target for the company from $126.00 to $160.00 in a research report on Monday, June 3rd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.57.

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.