Pathstone Family Office LLC Raises Stock Position in Masimo Co. (NASDAQ:MASI)

Posted by Defense World Staff on Mar 13th, 2023

Pathstone Family Office LLC raised its stake in shares of Masimo Co. (NASDAQ:MASI – Get Rating) by 91.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,841 shares of the medical equipment provider’s stock after buying an additional 3,262 shares during the period. Pathstone Family Office LLC’s holdings in Masimo were worth $966,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Meeder Asset Management Inc. raised its position in Masimo by 61.3% in the second quarter. Meeder Asset Management Inc. now owns 221 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 84 shares during the period. IFP Advisors Inc lifted its position in Masimo by 123.6% during the third quarter. IFP Advisors Inc now owns 161 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 89 shares in the last quarter. GHP Investment Advisors Inc. bought a new stake in Masimo during the third quarter valued at about $53,000. Lazard Asset Management LLC grew its holdings in Masimo by 20.0% during the first quarter. Lazard Asset Management LLC now owns 485 shares of the medical equipment provider’s stock valued at $70,000 after purchasing an additional 81 shares during the period. Finally, Janiczek Wealth Management LLC increased its position in Masimo by 43.3% in the third quarter. Janiczek Wealth Management LLC now owns 662 shares of the medical equipment provider’s stock worth $86,000 after buying an additional 200 shares in the last quarter. 87.67% of the stock is owned by institutional investors.

Masimo Stock Down 0.8 %

Shares of MASI stock opened at $172.87 on Monday. The company’s fifty day simple moving average is $165.91 and its two-hundred day simple moving average is $149.67. Masimo Co. has a 52 week low of $108.89 and a 52 week high of $184.96. The stock has a market cap of $9.09 billion, a P/E ratio of 66.49 and a beta of 0.86. The company has a quick ratio of 1.28, a current ratio of 2.08 and a debt-to-equity ratio of 0.70.

Masimo (NASDAQ:MASI – Get Rating) last posted its earnings results on Tuesday, February 28th. The medical equipment provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.15. Masimo had a return on equity of 18.84% and a net margin of 7.06%. The company had revenue of $617.00 million for the quarter, compared to the consensus estimate of $602.49 million. During the same period in the previous year, the business earned $1.21 earnings per share. The firm’s revenue for the quarter was up 88.4% on a year-over-year basis. Analysts predict that Masimo Co. will post 4.75 EPS for the current fiscal year.

Insider Transactions at Masimo

In other Masimo news, CEO Joe E. Kiani bought 7,040 shares of the business’s stock in a transaction that occurred on Thursday, December 15th. The stock was purchased at an average cost of $144.79 per share, with a total value of $1,019,321.60. Following the completion of the acquisition, the chief executive officer now owns 46,818 shares in the company, valued at approximately $6,778,778.22. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 9.70% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on MASI. Stifel Nicolaus lifted their price objective on Masimo from $164.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, January 11th. Piper Sandler upped their price target on shares of Masimo from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 1st. Needham & Company LLC raised their price objective on shares of Masimo from $173.00 to $192.00 and gave the company a “buy” rating in a research report on Wednesday, March 1st. BTIG Research upped their target price on shares of Masimo from $180.00 to $195.00 in a report on Wednesday, March 1st. Finally, Raymond James raised their price target on Masimo from $187.00 to $198.00 and gave the company an “outperform” rating in a report on Wednesday, March 1st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $182.00.

About Masimo

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Masimo Corp. is a medical technology company, which develops, manufactures and markets noninvasive patient monitoring technologies, medical devices and sensors. Its products include continuous monitors, patient-worn monitors, hospital automation connectivity, capnography & gas, data download & analytics and sensors & accessories.