Federated Hermes Inc. Has $19.77 Million Position in Masimo Co. (NASDAQ:MASI)

Federated Hermes Inc. cut its stake in Masimo Co. (NASDAQ:MASI) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 168,651 shares of the medical equipment provider’s stock after selling 984 shares during the quarter. Federated Hermes Inc. owned approximately 0.32% of Masimo worth $19,768,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA acquired a new position in Masimo in the 3rd quarter worth about $132,699,000. Eminence Capital LP acquired a new position in shares of Masimo during the 3rd quarter worth $90,859,000. T. Rowe Price Investment Management Inc. bought a new position in shares of Masimo during the 4th quarter valued at $80,154,000. Goldman Sachs Group Inc. boosted its holdings in Masimo by 92.1% in the second quarter. Goldman Sachs Group Inc. now owns 856,664 shares of the medical equipment provider’s stock worth $111,940,000 after purchasing an additional 410,793 shares in the last quarter. Finally, Hawk Ridge Capital Management LP increased its position in Masimo by 124.4% during the third quarter. Hawk Ridge Capital Management LP now owns 567,765 shares of the medical equipment provider’s stock worth $49,782,000 after buying an additional 314,763 shares during the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Masimo Price Performance

NASDAQ:MASI opened at $134.77 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.18 and a quick ratio of 1.22. Masimo Co. has a one year low of $75.22 and a one year high of $198.00. The company has a fifty day moving average price of $135.66 and a 200 day moving average price of $114.96. The stock has a market cap of $7.13 billion, a P/E ratio of 89.25 and a beta of 0.97.

Masimo (NASDAQ:MASI) last announced its quarterly earnings data on Tuesday, February 27th. The medical equipment provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.43. Masimo had a net margin of 3.98% and a return on equity of 13.77%. The business had revenue of $548.90 million during the quarter, compared to analyst estimates of $545.69 million. During the same quarter in the prior year, the business earned $1.32 earnings per share. The firm’s revenue for the quarter was down 11.0% on a year-over-year basis. Analysts anticipate that Masimo Co. will post 3.51 earnings per share for the current year.

Analysts Set New Price Targets

MASI has been the subject of a number of analyst reports. StockNews.com upgraded Masimo from a “sell” rating to a “hold” rating in a research note on Friday, March 29th. Needham & Company LLC cut Masimo from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Piper Sandler lifted their price target on shares of Masimo from $70.00 to $117.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. Stifel Nicolaus raised shares of Masimo from a “hold” rating to a “buy” rating and upped their price objective for the stock from $148.00 to $170.00 in a report on Monday, April 15th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $121.00 target price (up previously from $107.00) on shares of Masimo in a report on Tuesday, January 30th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $137.43.

About Masimo

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.