abrdn plc Buys 6,862 Shares of Masimo Co. (NASDAQ:MASI)

abrdn plc grew its position in Masimo Co. (NASDAQ:MASI - Free Report) by 91.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,334 shares of the medical equipment provider's stock after buying an additional 6,862 shares during the quarter. abrdn plc's holdings in Masimo were worth $1,680,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA acquired a new stake in shares of Masimo during the third quarter worth approximately $132,699,000. Eminence Capital LP acquired a new stake in shares of Masimo during the third quarter worth approximately $90,859,000. Hawk Ridge Capital Management LP boosted its holdings in shares of 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 purchasing an additional 314,763 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Masimo by 2.1% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 413,815 shares of the medical equipment provider's stock worth $48,503,000 after purchasing an additional 8,498 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Masimo by 224.5% during the third 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. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MASI has been the subject of several recent research reports. Stifel Nicolaus raised shares of Masimo from a "hold" rating to a "buy" rating and boosted their target price for the stock from $148.00 to $170.00 in a research report on Monday, April 15th. Needham & Company LLC downgraded shares of Masimo from a "buy" rating to a "hold" rating in a research report on Wednesday, January 3rd. Piper Sandler boosted their target price on shares of Masimo from $70.00 to $117.00 and gave the stock a "neutral" rating in a research report on Monday, February 26th. Wells Fargo & Company raised shares of Masimo from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $117.00 to $160.00 in a research report on Monday, March 25th. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $121.00 target price (up from $107.00) on shares of Masimo in a research report on Tuesday, January 30th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $137.43.

Masimo Stock Performance

Shares of Masimo stock traded down $1.79 on Tuesday, reaching $134.41. The stock had a trading volume of 408,887 shares, compared to its average volume of 553,409. The business's 50-day moving average price is $135.80 and its two-hundred day moving average price is $117.18. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.22 and a current ratio of 2.18. Masimo Co. has a fifty-two week low of $75.22 and a fifty-two week high of $190.82. The stock has a market cap of $7.11 billion, a P/E ratio of 89.01 and a beta of 0.97.

Masimo (NASDAQ:MASI - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The medical equipment provider reported $1.25 earnings per share for the quarter, topping 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 analysts' expectations of $545.69 million. During the same period in the previous year, the company earned $1.32 earnings per share. Masimo's revenue for the quarter was down 11.0% on a year-over-year basis. On average, sell-side 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.