Clearline Capital LP Makes New $21.34 Million Investment in Masimo Co. (NASDAQ:MASI)

Clearline Capital LP acquired a new stake in Masimo Co. (NASDAQ:MASI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 160,029 shares of the medical equipment provider’s stock, valued at approximately $21,337,000. Masimo accounts for about 0.9% of Clearline Capital LP’s holdings, making the stock its 14th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MASI. FMR LLC grew its stake in shares of Masimo by 41.2% during the 3rd quarter. FMR LLC now owns 6,756,618 shares of the medical equipment provider’s stock worth $900,860,000 after purchasing an additional 1,970,883 shares during the period. Westfield Capital Management Co. LP grew its position in Masimo by 23.2% during the third quarter. Westfield Capital Management Co. LP now owns 1,394,056 shares of the medical equipment provider’s stock valued at $185,869,000 after buying an additional 262,370 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Masimo by 42.1% in the second quarter. Thrivent Financial for Lutherans now owns 1,217,357 shares of the medical equipment provider’s stock worth $153,314,000 after acquiring an additional 360,497 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Masimo by 9.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 792,166 shares of the medical equipment provider’s stock worth $105,619,000 after acquiring an additional 70,440 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in shares of Masimo by 107.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 677,677 shares of the medical equipment provider’s stock valued at $85,347,000 after acquiring an additional 351,523 shares during the period. 85.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MASI has been the topic of a number of recent analyst reports. Piper Sandler increased their price target on Masimo from $165.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Stifel Nicolaus reiterated a “buy” rating and set a $190.00 target price (up previously from $170.00) on shares of Masimo in a research report on Friday, November 22nd. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a report on Wednesday, November 6th. BTIG Research increased their price objective on shares of Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Wells Fargo & Company boosted their target price on shares of Masimo from $160.00 to $171.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Masimo presently has an average rating of “Moderate Buy” and an average price target of $167.00.

Masimo Stock Performance

MASI opened at $172.54 on Monday. 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 firm’s 50-day moving average price is $149.24 and its 200 day moving average price is $129.91. Masimo Co. has a twelve month low of $91.60 and a twelve month high of $178.27. The firm has a market capitalization of $9.24 billion, a PE ratio of 118.99 and a beta of 0.97.

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 analysts’ consensus estimates of $0.84 by $0.14. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The business had revenue of $504.60 million during the quarter, compared to analyst estimates of $502.87 million. During the same period in the prior year, the business earned $0.63 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts expect that Masimo Co. will post 4.03 EPS for the current fiscal year.

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.