Retirement Systems of Alabama Cuts Stock Position in Masimo Co. (NASDAQ:MASI)

Retirement Systems of Alabama trimmed its position in shares of Masimo Co. (NASDAQ:MASI) by 20.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 114,260 shares of the medical equipment provider’s stock after selling 29,978 shares during the quarter. Retirement Systems of Alabama owned about 0.21% of Masimo worth $15,234,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MASI. NBC Securities Inc. increased its position in Masimo by 47.1% during the 3rd quarter. NBC Securities Inc. now owns 228 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 73 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Masimo by 133.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 350 shares of the medical equipment provider’s stock valued at $44,000 after acquiring an additional 200 shares in the last quarter. HHM Wealth Advisors LLC raised its position in shares of Masimo by 25.0% in the 2nd quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider’s stock valued at $79,000 after purchasing an additional 125 shares during the last quarter. Fifth Third Bancorp boosted its stake in Masimo by 16.4% in the 2nd quarter. Fifth Third Bancorp now owns 695 shares of the medical equipment provider’s stock worth $88,000 after purchasing an additional 98 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Masimo during the 2nd quarter worth approximately $109,000. 85.96% of the stock is currently owned by institutional investors.

Masimo Stock Performance

Shares of MASI stock opened at $176.14 on Monday. Masimo Co. has a 52-week low of $101.61 and a 52-week high of $178.87. The company has a quick ratio of 1.11, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. The stock has a market cap of $9.43 billion, a PE ratio of 121.48 and a beta of 1.01. The business has a 50-day simple moving average of $157.26 and a 200-day simple moving average of $133.23.

Masimo (NASDAQ:MASI) last announced its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.14. The company had revenue of $504.60 million during 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%. Masimo’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. On average, equities analysts expect that Masimo Co. will post 4.03 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on MASI. Piper Sandler raised their price target on shares of Masimo from $165.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Stifel Nicolaus restated 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. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a research note on Wednesday, November 6th. BTIG Research raised their price objective on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Raymond James upgraded Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 target price on the stock in a research report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $170.67.

Masimo Company 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.