Westfield Capital Management Co. LP Boosts Position in Masimo Co. (NASDAQ:MASI)

Westfield Capital Management Co. LP increased its stake in Masimo Co. (NASDAQ:MASI) by 35.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 818,476 shares of the medical equipment provider’s stock after acquiring an additional 214,795 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Masimo were worth $95,934,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA purchased a new position in Masimo during the 3rd quarter valued at about $132,699,000. Eminence Capital LP bought a new stake in shares of Masimo in the 3rd quarter valued at about $90,859,000. Hawk Ridge Capital Management LP boosted its holdings in shares of Masimo by 124.4% in the 3rd quarter. Hawk Ridge Capital Management LP now owns 567,765 shares of the medical equipment provider’s stock valued at $49,782,000 after buying an additional 314,763 shares in the last quarter. Hudson Bay Capital Management LP bought a new stake in shares of Masimo in the 3rd quarter valued at about $12,497,000. Finally, Sei Investments Co. boosted its holdings in shares of Masimo by 224.5% in the 3rd quarter. Sei Investments Co. now owns 183,940 shares of the medical equipment provider’s stock valued at $16,128,000 after buying an additional 127,249 shares in the last quarter. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Masimo Stock Performance

NASDAQ MASI traded up $2.25 on Friday, hitting $127.00. 606,517 shares of the company’s stock traded hands, compared to its average volume of 823,578. The company has a current ratio of 2.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.62. Masimo Co. has a 1-year low of $75.22 and a 1-year high of $169.58. The firm’s 50-day moving average price is $134.20 and its two-hundred day moving average price is $123.07. The firm has a market capitalization of $6.74 billion, a PE ratio of 86.39 and a beta of 0.99.

Masimo (NASDAQ:MASI) last announced its quarterly earnings data on Tuesday, May 7th. The medical equipment provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.71 by $0.06. Masimo had a net margin of 4.01% and a return on equity of 13.26%. The business had revenue of $492.80 million during the quarter, compared to analysts’ expectations of $487.70 million. During the same period in the previous year, the business posted $0.87 EPS. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. As a group, analysts expect that Masimo Co. will post 3.64 EPS for the current year.

Analyst Ratings Changes

MASI has been the topic of a number of recent analyst reports. Stifel Nicolaus upgraded shares of Masimo from a “hold” rating to a “buy” rating and raised their price target for the company from $148.00 to $170.00 in a report on Monday, April 15th. Needham & Company LLC restated a “hold” rating on shares of Masimo in a report on Wednesday, May 8th. StockNews.com upgraded shares of Masimo from a “sell” rating to a “hold” rating in a report on Friday, March 29th. BTIG Research lifted their target price on shares of Masimo from $145.00 to $166.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Finally, Piper Sandler lifted their target price on shares of Masimo from $117.00 to $126.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Masimo presently has an average rating of “Hold” and an average price target of $138.71.

Insider Buying and Selling at Masimo

In other Masimo news, Director Craig B. Reynolds sold 40,000 shares of Masimo stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $136.17, for a total transaction of $5,446,800.00. Following the completion of the sale, the director now directly owns 7,406 shares in the company, valued at approximately $1,008,475.02. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 9.70% of the company’s stock.

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.