Should You Invest in Masimo Corp. (MASI)?

Ensemble Capital Management, an investment management company, released its third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy outperformed its benchmark, the S&P 500, after three consecutive quarters. The strategy declined 2.6% compared to a 4.9% decline for the S&P 500 Index in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Ensemble Capital discussed stocks like Masimo Corporation (NASDAQ:MASI) in the Q3 2022 investor letter. Headquartered in Irvine, California, Masimo Corporation (NASDAQ:MASI) is a medical technology company. On October 17, 2022, Masimo Corporation (NASDAQ:MASI) stock closed at $137.93 per share. One-month return of Masimo Corporation (NASDAQ:MASI) was -9.04% and its shares lost 50.91% of their value over the last 52 weeks. Masimo Corporation (NASDAQ:MASI) has a market capitalization of $7.245 billion.

Here is what Ensemble Capital specifically said about Masimo Corporation (NASDAQ:MASI) in its Q3 2022 investor letter:

Masimo Corporation (NASDAQ:MASI) (+8.0%): In August, an activist investor bought 9% of the company and sought to begin conversations with Masimo management about their acquisition of Sound United. During the fourth quarter, Masimo will host an investor event in which they plan to lay out the details of their strategy to use Sound United to bring their medical sensor technology into the home as part of their long-time mission to lower the cost of health care and improve patient outcomes.”

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Masimo Corporation (NASDAQ:MASI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held Masimo Corporation (NASDAQ:MASI)  at the end of the second quarter, which was 39 in the previous quarter.

We discussed Masimo Corporation (NASDAQ:MASI) in another article and shared Ensemble Capital’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.