Coldstream Capital Management Inc. Buys Shares of 2,292 Masimo Co. (NASDAQ:MASI)

Coldstream Capital Management Inc. bought a new stake in Masimo Co. (NASDAQ:MASI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,292 shares of the medical equipment provider’s stock, valued at approximately $269,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MASI. Massachusetts Financial Services Co. MA purchased a new position in Masimo in the third quarter valued at about $132,699,000. Eminence Capital LP purchased a new position in Masimo in the third quarter valued at about $90,859,000. Hawk Ridge Capital Management LP boosted its stake in Masimo by 124.4% in the third quarter. Hawk Ridge Capital Management LP now owns 567,765 shares of the medical equipment provider’s stock valued at $49,782,000 after acquiring an additional 314,763 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of Masimo during the 3rd quarter valued at approximately $12,497,000. Finally, Sei Investments Co. lifted its stake in shares of Masimo by 224.5% during the 3rd quarter. Sei Investments Co. now owns 183,940 shares of the medical equipment provider’s stock valued at $16,128,000 after buying an additional 127,249 shares in the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Masimo Stock Performance

Masimo stock opened at $127.00 on Friday. The firm’s 50 day simple moving average is $134.20 and its 200 day simple moving average is $123.07. The company has a current ratio of 2.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $6.74 billion, a PE ratio of 86.39 and a beta of 0.99. Masimo Co. has a 1-year low of $75.22 and a 1-year high of $169.58.

Masimo (NASDAQ:MASI) last issued its quarterly earnings results on Tuesday, May 7th. The medical equipment provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The firm had revenue of $492.80 million for the quarter, compared to analyst estimates of $487.70 million. Masimo had a net margin of 4.01% and a return on equity of 13.26%. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.87 EPS. As a group, analysts expect that Masimo Co. will post 3.64 earnings per share for the current fiscal year.

Insider Transactions at Masimo

In other news, Director Craig B. Reynolds sold 40,000 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $136.17, for a total value of $5,446,800.00. Following the transaction, the director now owns 7,406 shares of the company’s stock, valued at approximately $1,008,475.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 9.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MASI shares. Wells Fargo & Company upgraded shares of Masimo from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $117.00 to $160.00 in a research note on Monday, March 25th. Jefferies Financial Group restated a “hold” rating and set a $121.00 price target (up from $107.00) on shares of Masimo in a research note on Tuesday, January 30th. StockNews.com upgraded shares of Masimo from a “sell” rating to a “hold” rating in a research note on Friday, March 29th. Needham & Company LLC restated a “hold” rating on shares of Masimo in a research note on Wednesday, May 8th. Finally, Piper Sandler upped their price target on shares of Masimo from $117.00 to $126.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $138.71.

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.