Raymond James Trust N.A. Raises Holdings in Masimo Co. (NASDAQ:MASI)

Raymond James Trust N.A. grew its position in shares of Masimo Co. (NASDAQ:MASI) by 37.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,814 shares of the medical equipment provider’s stock after purchasing an additional 2,400 shares during the quarter. Raymond James Trust N.A.’s holdings in Masimo were worth $1,175,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MASI. NBC Securities Inc. increased its position in Masimo by 47.1% in 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 during the period. Fifth Third Bancorp increased its position in Masimo by 16.4% in the 2nd quarter. Fifth Third Bancorp now owns 695 shares of the medical equipment provider’s stock valued at $88,000 after acquiring an additional 98 shares during the period. Oak Thistle LLC increased its position in Masimo by 5.2% in the 2nd quarter. Oak Thistle LLC now owns 2,079 shares of the medical equipment provider’s stock valued at $262,000 after acquiring an additional 103 shares during the period. GAMMA Investing LLC increased its position in Masimo by 75.0% in the 2nd 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. Finally, HHM Wealth Advisors LLC increased its position in Masimo by 25.0% in the 2nd quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider’s stock valued at $79,000 after acquiring an additional 125 shares during the period. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Analyst Upgrades and Downgrades

MASI has been the topic of several recent research reports. Piper Sandler boosted their price target on Masimo from $165.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. BTIG Research lifted their price objective on Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a report on Monday, October 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a report on Wednesday, November 6th. Raymond James raised Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price objective on the stock in a report on Wednesday, November 6th. Finally, Wells Fargo & Company lifted their price objective on Masimo from $160.00 to $171.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $167.00.

Masimo Price Performance

Shares of NASDAQ:MASI opened at $172.96 on Monday. The business’s 50 day simple moving average is $143.48 and its 200-day simple moving average is $127.94. The firm has a market capitalization of $9.26 billion, a price-to-earnings 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.

Masimo (NASDAQ:MASI) last announced 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 analyst estimates of $502.87 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.63 EPS. As a group, equities analysts forecast that Masimo Co. will post 4.04 earnings per share for the current fiscal 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.