Cardinal Capital Management Raises Stock Holdings in Masimo Co. (NASDAQ:MASI)

Cardinal Capital Management lifted its holdings in shares of Masimo Co. (NASDAQ:MASI) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,057 shares of the medical equipment provider’s stock after acquiring an additional 240 shares during the period. Cardinal Capital Management’s holdings in Masimo were worth $1,819,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MASI. FMR LLC increased its stake in Masimo by 11.5% in the first quarter. FMR LLC now owns 6,084,956 shares of the medical equipment provider’s stock valued at $1,122,918,000 after purchasing an additional 628,612 shares during the period. Vanguard Group Inc. increased its position in Masimo by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 4,775,660 shares of the medical equipment provider’s stock valued at $695,050,000 after acquiring an additional 71,918 shares during the period. State Street Corp raised its stake in Masimo by 1.6% during the 1st quarter. State Street Corp now owns 1,730,991 shares of the medical equipment provider’s stock valued at $251,928,000 after acquiring an additional 27,261 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Masimo by 92.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 856,664 shares of the medical equipment provider’s stock worth $111,940,000 after acquiring an additional 410,793 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Masimo by 3.2% in the 1st quarter. Geode Capital Management LLC now owns 726,018 shares of the medical equipment provider’s stock valued at $133,789,000 after purchasing an additional 22,822 shares during the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.

Masimo Price Performance

Shares of NASDAQ MASI opened at $99.81 on Tuesday. Masimo Co. has a 52 week low of $96.76 and a 52 week high of $198.00. The company’s 50-day moving average price is $116.27 and its 200 day moving average price is $153.30. The company has a current ratio of 2.11, a quick ratio of 1.16 and a debt-to-equity ratio of 0.68. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of 46.64 and a beta of 0.81.

Masimo (NASDAQ:MASI) last released its quarterly earnings data on Tuesday, August 8th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.24). The business had revenue of $455.30 million during the quarter, compared to analyst estimates of $478.27 million. Masimo had a return on equity of 15.79% and a net margin of 5.30%. Masimo’s revenue was down 19.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.35 EPS. As a group, research analysts forecast that Masimo Co. will post 3.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on MASI. Wells Fargo & Company decreased their price target on Masimo from $126.00 to $110.00 and set an “equal weight” rating for the company in a report on Wednesday, August 9th. Raymond James dropped their price target on shares of Masimo from $198.00 to $142.00 and set an “outperform” rating on the stock in a research note on Thursday, August 10th. Needham & Company LLC restated a “buy” rating and issued a $136.00 price objective on shares of Masimo in a research report on Wednesday, August 9th. BTIG Research dropped their target price on Masimo from $200.00 to $153.00 in a research report on Tuesday, July 18th. Finally, StockNews.com downgraded Masimo from a “hold” rating to a “sell” rating in a research note on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Masimo presently has a consensus rating of “Hold” and an average price target of $141.57.

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 O3 regional oximetry.