Sumitomo Mitsui Trust Holdings Inc. Has $48.50 Million Stock Holdings in Masimo Co. (NASDAQ:MASI)

Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Masimo Co. (NASDAQ:MASI - Free Report) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 413,815 shares of the medical equipment provider's stock after purchasing an additional 8,498 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.78% of Masimo worth $48,503,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Eminence Capital LP purchased a new position in Masimo in the 3rd quarter worth about $90,859,000. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Masimo by 93.8% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 16,541 shares of the medical equipment provider's stock valued at $1,450,000 after acquiring an additional 8,004 shares during the period. Comerica Bank purchased a new stake in shares of Masimo in the 3rd quarter valued at approximately $8,454,000. Sei Investments Co. boosted its stake in Masimo by 224.5% in the 3rd quarter. Sei Investments Co. now owns 183,940 shares of the medical equipment provider's stock worth $16,128,000 after purchasing an additional 127,249 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new position in Masimo during the 3rd quarter worth approximately $132,699,000. 85.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MASI has been the subject of a number of research analyst reports. Needham & Company LLC lowered Masimo from a "buy" rating to a "hold" rating in a report on Wednesday, January 3rd. StockNews.com raised Masimo from a "sell" rating to a "hold" rating in a research note on Friday, March 29th. BTIG Research lifted their target price on Masimo from $145.00 to $166.00 and gave the company a "buy" rating in a research note on Monday, March 25th. Jefferies Financial Group reissued a "hold" rating and issued a $121.00 price target (up from $107.00) on shares of Masimo in a research report on Tuesday, January 30th. Finally, Wells Fargo & Company upgraded shares of Masimo from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $117.00 to $160.00 in a report on Monday, March 25th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $137.43.

Masimo Stock Down 0.8 %

Shares of MASI traded down $1.15 during midday trading on Friday, reaching $134.77. 353,006 shares of the stock were exchanged, compared to its average volume of 495,358. The company has a quick ratio of 1.22, a current ratio of 2.18 and a debt-to-equity ratio of 0.64. The company has a market cap of $7.13 billion, a price-to-earnings ratio of 89.25 and a beta of 0.97. The firm has a 50 day simple moving average of $135.66 and a 200-day simple moving average of $114.74. Masimo Co. has a 12-month low of $75.22 and a 12-month high of $198.00.

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