Westfield Capital Management Co. LP Boosts Stake in Masimo Co. (NASDAQ:MASI)

Westfield Capital Management Co. LP raised its position in shares of Masimo Co. (NASDAQ:MASI) by 23.2% in the third quarter, Holdings Channel.com reports. The fund owned 1,394,056 shares of the medical equipment provider’s stock after buying an additional 262,370 shares during the quarter. Masimo comprises approximately 0.8% of Westfield Capital Management Co. LP’s holdings, making the stock its 23rd largest position. Westfield Capital Management Co. LP’s holdings in Masimo were worth $185,869,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. NBC Securities Inc. grew its position in Masimo by 47.1% during the third 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 during the period. GAMMA Investing LLC grew its position in Masimo by 75.0% during the second quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider’s stock valued at $33,000 after acquiring an additional 111 shares during the period. 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. Lazard Asset Management LLC lifted its stake in shares of Masimo by 5,730.0% during the first quarter. Lazard Asset Management LLC now owns 583 shares of the medical equipment provider’s stock worth $85,000 after purchasing an additional 573 shares in the last quarter. Finally, HHM Wealth Advisors LLC lifted its stake in shares of Masimo by 25.0% during the second quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider’s stock worth $79,000 after purchasing an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Masimo Trading Up 2.3 %

MASI opened at $172.96 on Friday. The stock has a market capitalization of $9.26 billion, a PE ratio of 119.28 and a beta of 0.97. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11. Masimo Co. has a 12-month low of $91.60 and a 12-month high of $174.34. The firm’s fifty day moving average price is $143.48 and its 200 day moving average price is $128.00.

Masimo (NASDAQ:MASI) last issued its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.84 by $0.14. The business had revenue of $504.60 million for the quarter, compared to analysts’ expectations of $502.87 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.63 earnings per share. As a group, research analysts expect that Masimo Co. will post 4.04 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on MASI shares. BTIG Research boosted their price objective on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Needham & Company LLC restated a “hold” rating on shares of Masimo in a research note on Wednesday, November 6th. Stifel Nicolaus restated a “buy” rating and set a $190.00 price objective (up previously from $170.00) on shares of Masimo in a research note on Friday. Raymond James upgraded Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price objective on the stock in a research note on Wednesday, November 6th. Finally, Piper Sandler boosted their price objective on Masimo from $165.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $167.00.

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.