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

Kovitz Investment Group Partners LLC acquired a new stake in shares of Masimo Co. (NASDAQ:MASI) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,902 shares of the medical equipment provider’s stock, valued at approximately $499,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. NBC Securities Inc. boosted its position in shares of 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 acquiring an additional 73 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in 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 purchasing an additional 200 shares during the last quarter. HHM Wealth Advisors LLC increased its holdings 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 worth $79,000 after buying an additional 125 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Masimo by 16.4% during the 2nd 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 in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Masimo during the 2nd quarter worth $109,000. Institutional investors own 85.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Stifel Nicolaus reissued 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. BTIG Research increased their price objective on Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Piper Sandler boosted their target price on Masimo from $165.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Wells Fargo & Company upped their target price on Masimo from $171.00 to $193.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Masimo in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $170.67.

Masimo Price Performance

MASI opened at $175.08 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11. The stock’s 50 day simple moving average is $156.51 and its 200 day simple moving average is $132.80. The firm has a market cap of $9.37 billion, a price-to-earnings ratio of 120.74 and a beta of 1.01. Masimo Co. has a 1 year low of $101.61 and a 1 year high of $178.87.

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

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.