Norges Bank Acquires New Stake in Masimo Corporation $MASI

Norges Bank acquired a new stake in shares of Masimo Corporation (NASDAQ:MASI) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 39,053 shares of the medical equipment provider’s stock, valued at approximately $6,569,000. Norges Bank owned about 0.07% of Masimo at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its holdings in shares of Masimo by 25.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,470,393 shares of the medical equipment provider’s stock valued at $415,570,000 after acquiring an additional 502,555 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in Masimo by 0.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,673,252 shares of the medical equipment provider’s stock valued at $278,764,000 after purchasing an additional 10,876 shares during the last quarter. Westfield Capital Management Co. LP increased its stake in Masimo by 75.9% during the 2nd quarter. Westfield Capital Management Co. LP now owns 1,181,203 shares of the medical equipment provider’s stock valued at $198,702,000 after purchasing an additional 509,724 shares in the last quarter. Durable Capital Partners LP purchased a new position in Masimo in the first quarter worth about $187,528,000. Finally, Geode Capital Management LLC raised its holdings in Masimo by 6.2% in the second quarter. Geode Capital Management LLC now owns 896,418 shares of the medical equipment provider’s stock worth $150,817,000 after buying an additional 52,100 shares during the last quarter. 85.96% of the stock is owned by hedge funds and other institutional investors.

Masimo Price Performance

NASDAQ MASI opened at $138.62 on Wednesday. The stock has a market capitalization of $7.45 billion, a price-to-earnings ratio of -13.15, a PEG ratio of 1.53 and a beta of 1.26. Masimo Corporation has a 1-year low of $133.70 and a 1-year high of $194.88. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.84 and a quick ratio of 1.92. The business’s fifty day moving average price is $145.64 and its 200-day moving average price is $151.72.

Masimo (NASDAQ:MASI) last posted its quarterly earnings data on Thursday, June 20th. The medical equipment provider reported $1.42 EPS for the quarter. The company had revenue of $617.00 million during the quarter. Masimo had a positive return on equity of 33.04% and a negative net margin of 33.20%. On average, equities analysts predict that Masimo Corporation will post 4.1 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Masimo from a “hold” rating to a “buy” rating in a research report on Tuesday, October 14th. Weiss Ratings reissued a “sell (d)” rating on shares of Masimo in a report on Wednesday, October 8th. BTIG Research boosted their price target on Masimo from $198.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Zacks Research cut Masimo from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 24th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $190.00 price objective on shares of Masimo in a report on Friday. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $189.40.

Masimo 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.