Masimo Co. (NASDAQ:MASI) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. decreased its stake in Masimo Co. (NASDAQ:MASI) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,352 shares of the medical equipment provider’s stock after selling 693 shares during the period. Logan Capital Management Inc.’s holdings in Masimo were worth $6,713,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its holdings in shares of Masimo by 643.8% during the second quarter. Assenagon Asset Management S.A. now owns 50,740 shares of the medical equipment provider’s stock valued at $6,390,000 after acquiring an additional 43,918 shares during the period. Fifth Third Bancorp boosted its stake in 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 purchasing an additional 98 shares during the period. Raymond James Trust N.A. grew its position in Masimo by 14.3% in the 2nd quarter. Raymond James Trust N.A. now owns 6,414 shares of the medical equipment provider’s stock worth $808,000 after purchasing an additional 800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Masimo by 8.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,877 shares of the medical equipment provider’s stock valued at $992,000 after purchasing an additional 610 shares during the period. Finally, Versor Investments LP bought a new stake in shares of Masimo during the second quarter valued at approximately $665,000. 85.96% of the stock is currently owned by institutional investors.

Masimo Price Performance

NASDAQ MASI traded down $0.54 on Friday, reaching $174.54. The company’s stock had a trading volume of 11,381 shares, compared to its average volume of 662,404. The firm’s 50 day moving average is $156.51 and its two-hundred day moving average is $132.80. The stock has a market cap of $9.34 billion, a PE ratio of 120.74 and a beta of 1.01. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01. Masimo Co. has a twelve month low of $101.61 and a twelve month high of $178.87.

Masimo (NASDAQ:MASI) last announced its quarterly earnings data on Tuesday, November 5th. The medical equipment provider reported $0.98 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%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 EPS. As a group, sell-side analysts predict that Masimo Co. will post 4.03 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on MASI shares. Stifel Nicolaus restated a “buy” rating and issued a $190.00 target price (up from $170.00) on shares of Masimo in a research report on Friday, November 22nd. BTIG Research raised their price target on Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a report on Monday, October 14th. Piper Sandler upped their price objective on shares of Masimo from $165.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Raymond James raised shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 target price on the stock in a research note on Wednesday, November 6th. Finally, Needham & Company LLC reaffirmed 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 given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.