Kovitz Investment Group Partners LLC Takes $499,000 Position in Masimo Co. (NASDAQ:MASI)

Kovitz Investment Group Partners LLC purchased a new position in Masimo Co. (NASDAQ:MASI) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 3,902 shares of the medical equipment provider’s stock, valued at approximately $499,000.

A number of other large investors also recently bought and sold shares of the business. NBC Securities Inc. increased its stake in shares of Masimo by 47.1% during the third quarter. NBC Securities Inc. now owns 228 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 73 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Masimo by 133.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 350 shares of the medical equipment provider’s stock worth $44,000 after buying an additional 200 shares during the last quarter. HHM Wealth Advisors LLC increased its position in Masimo by 25.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider’s stock valued at $79,000 after buying an additional 125 shares in the last quarter. Fifth Third Bancorp raised its stake in Masimo by 16.4% during the second quarter. Fifth Third Bancorp now owns 695 shares of the medical equipment provider’s stock valued at $88,000 after buying an additional 98 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in Masimo in the second quarter worth $109,000. 85.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MASI. Needham & Company LLC restated a “hold” rating on shares of Masimo in a report on Wednesday, November 6th. BTIG Research raised their price objective on shares of Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Stifel Nicolaus reiterated a “buy” rating and issued a $190.00 target price (up previously from $170.00) on shares of Masimo in a research note on Friday, November 22nd. Wells Fargo & Company raised their price target on shares of Masimo from $171.00 to $193.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Raymond James upgraded shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price objective for the company in a report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $170.67.

Masimo Stock Up 0.4 %

Shares of Masimo stock opened at $175.08 on Friday. The company has a quick ratio of 1.11, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. Masimo Co. has a twelve month low of $101.61 and a twelve month high of $178.87. The company has a market cap of $9.37 billion, a price-to-earnings ratio of 120.74 and a beta of 1.01. The company’s 50 day moving average is $156.51 and its 200 day moving average is $132.80.

Masimo (NASDAQ:MASI) last released its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.14. The firm had revenue of $504.60 million for the quarter, compared to the consensus estimate of $502.87 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the business posted $0.63 EPS. Research analysts anticipate that Masimo Co. will post 4.03 EPS for the current year.

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.