Clearline Capital LP Purchases New Holdings in Masimo Co. (NASDAQ:MASI)

Clearline Capital LP acquired a new position in Masimo Co. (NASDAQ:MASI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 160,029 shares of the medical equipment provider’s stock, valued at approximately $21,337,000. Masimo comprises about 0.9% of Clearline Capital LP’s investment portfolio, making the stock its 14th largest holding. Clearline Capital LP owned approximately 0.30% of Masimo as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. NBC Securities Inc. lifted its stake 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 worth $30,000 after acquiring an additional 73 shares during the last quarter. GAMMA Investing LLC increased its stake in Masimo by 75.0% in the 2nd quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider’s stock worth $33,000 after buying an additional 111 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Masimo by 133.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 350 shares of the medical equipment provider’s stock worth $44,000 after acquiring an additional 200 shares in the last quarter. Lazard Asset Management LLC grew its stake in Masimo by 5,730.0% in the 1st quarter. Lazard Asset Management LLC now owns 583 shares of the medical equipment provider’s stock worth $85,000 after acquiring an additional 573 shares in the last quarter. Finally, HHM Wealth Advisors LLC increased its position in shares of Masimo by 25.0% during the second quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider’s stock worth $79,000 after acquiring an additional 125 shares during the period. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MASI shares. Wells Fargo & Company increased their price objective on Masimo from $160.00 to $171.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Stifel Nicolaus reissued a “buy” rating and set a $190.00 price target (up previously from $170.00) on shares of Masimo in a research report on Friday, November 22nd. 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 research note on Wednesday, November 6th. Raymond James raised Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price target for the company in a research report on Wednesday, November 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.00.

Masimo Price Performance

Shares of MASI opened at $172.54 on Monday. 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 company’s fifty day moving average price is $149.24 and its 200-day moving average price is $129.91. Masimo Co. has a 1-year low of $91.60 and a 1-year high of $178.27. The firm has a market capitalization of $9.24 billion, a PE ratio of 118.99 and a beta of 0.97.

Masimo (NASDAQ:MASI) last announced its quarterly earnings data on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.14. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The business had revenue of $504.60 million for the quarter, compared to analyst estimates of $502.87 million. During the same period in the prior year, the company earned $0.63 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. On average, equities research analysts predict that Masimo Co. will post 4.03 EPS 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.