Red Spruce Capital LLC Raises Stock Holdings in Masimo Co. (NASDAQ:MASI)

Red Spruce Capital LLC raised its position in shares of Masimo Co. (NASDAQ:MASI) by 51.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,558 shares of the medical equipment provider’s stock after buying an additional 1,212 shares during the quarter. Red Spruce Capital LLC’s holdings in Masimo were worth $585,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Duality Advisers LP bought a new stake in Masimo during the first quarter worth about $498,000. Berkshire Asset Management LLC PA purchased a new stake in shares of Masimo in the 1st quarter worth approximately $268,000. Empower Advisory Group LLC bought a new position in Masimo during the 1st quarter valued at approximately $2,677,000. Seaport Global Advisors LLC raised its stake in Masimo by 73.1% during the first quarter. Seaport Global Advisors LLC now owns 2,912 shares of the medical equipment provider’s stock valued at $537,000 after buying an additional 1,230 shares during the last quarter. Finally, Toroso Investments LLC bought a new stake in Masimo in the first quarter worth $1,814,000. 85.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MASI shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $136.00 price target on shares of Masimo in a research report on Wednesday, August 9th. Wells Fargo & Company dropped their target price on shares of Masimo from $126.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 9th. Stifel Nicolaus downgraded shares of Masimo from a “buy” rating to a “hold” rating and reduced their price target for the company from $205.00 to $120.00 in a research report on Tuesday, July 18th. BTIG Research cut their target price on Masimo from $200.00 to $153.00 in a research note on Tuesday, July 18th. Finally, Raymond James decreased their price target on Masimo from $198.00 to $142.00 and set an “outperform” rating for the company in a research note on Thursday, August 10th. One research analyst has rated the stock with a sell rating, three have assigned 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 “Hold” and a consensus price target of $144.50.

Masimo Stock Performance

Masimo stock traded up $1.01 during mid-day trading on Thursday, reaching $102.32. 147,745 shares of the stock traded hands, compared to its average volume of 580,906. Masimo Co. has a 12-month low of $96.76 and a 12-month high of $198.00. The stock has a market capitalization of $5.40 billion, a PE ratio of 47.34 and a beta of 0.81. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.11 and a quick ratio of 1.16. The business’s 50-day moving average is $119.73 and its 200-day moving average is $154.95.

Masimo (NASDAQ:MASI) last posted its quarterly earnings data on Tuesday, August 8th. The medical equipment provider reported $0.62 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.24). Masimo had a return on equity of 15.79% and a net margin of 5.30%. The company had revenue of $455.30 million during the quarter, compared to analysts’ expectations of $478.27 million. During the same quarter last year, the company earned $1.35 earnings per share. The company’s revenue for the quarter was down 19.5% on a year-over-year basis. As a group, sell-side analysts predict that Masimo Co. will post 3.46 EPS 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 O3 regional oximetry.