Sofinnova Investments Inc. Raises Stock Holdings in Masimo Co. (NASDAQ:MASI)

Sofinnova Investments Inc. lifted its stake in Masimo Co. (NASDAQ:MASI) by 0.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,161 shares of the medical equipment provider’s stock after buying an additional 161 shares during the quarter. Sofinnova Investments Inc.’s holdings in Masimo were worth $2,539,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MASI. Riverview Trust Co purchased a new stake in Masimo in the 1st quarter worth $25,000. GAMMA Investing LLC increased its stake in Masimo by 75.0% during the second quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider’s stock worth $33,000 after acquiring an additional 111 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Masimo by 851.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 295 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 264 shares during the last quarter. Parallel Advisors LLC increased its position in Masimo by 48.3% during the fourth quarter. Parallel Advisors LLC now owns 445 shares of the medical equipment provider’s stock valued at $52,000 after acquiring an additional 145 shares during the last quarter. Finally, HHM Wealth Advisors LLC grew its holdings 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 purchasing an additional 125 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors.

Masimo Trading Up 1.0 %

Shares of Masimo stock opened at $113.97 on Tuesday. The firm has a fifty day moving average price of $114.50 and a 200 day moving average price of $125.33. The stock has a market cap of $6.06 billion, a PE ratio of 77.53 and a beta of 0.98. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.09 and a quick ratio of 1.15. Masimo Co. has a 1 year low of $75.22 and a 1 year high of $153.93.

Masimo (NASDAQ:MASI) last issued its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. The business had revenue of $496.30 million for the quarter, compared to analysts’ expectations of $493.92 million. Masimo had a net margin of 3.94% and a return on equity of 14.07%. The business’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company earned $0.62 EPS. Equities research analysts predict that Masimo Co. will post 3.87 earnings per share for the current year.

Analysts Set New Price Targets

MASI has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a research note on Wednesday, August 7th. Piper Sandler upped their target price on Masimo from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $144.67.

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.