Mission Wealth Management LP Purchases New Shares in Masimo Co. (NASDAQ:MASI)

Mission Wealth Management LP acquired a new position in Masimo Co. (NASDAQ:MASI) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,280 shares of the medical equipment provider’s stock, valued at approximately $267,000.

A number of other institutional investors have also recently modified their holdings of MASI. Massachusetts Financial Services Co. MA purchased a new position in Masimo during the third quarter worth approximately $132,699,000. Eminence Capital LP acquired a new stake in Masimo in the 3rd quarter valued at $90,859,000. Hawk Ridge Capital Management LP increased its holdings in Masimo by 124.4% in the 3rd quarter. Hawk Ridge Capital Management LP now owns 567,765 shares of the medical equipment provider’s stock worth $49,782,000 after acquiring an additional 314,763 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Masimo by 2.1% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 413,815 shares of the medical equipment provider’s stock worth $48,503,000 after acquiring an additional 8,498 shares during the period. Finally, Sei Investments Co. lifted its holdings in Masimo by 224.5% during the third quarter. Sei Investments Co. now owns 183,940 shares of the medical equipment provider’s stock valued at $16,128,000 after purchasing an additional 127,249 shares in the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Masimo

In related news, Director Craig B. Reynolds sold 40,000 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $136.17, for a total value of $5,446,800.00. Following the completion of the sale, the director now owns 7,406 shares in the company, valued at $1,008,475.02. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 9.70% of the company’s stock.

Masimo Stock Performance

NASDAQ MASI opened at $137.00 on Friday. The company has a fifty day moving average of $136.10 and a two-hundred day moving average of $118.25. The company has a market capitalization of $7.25 billion, a PE ratio of 90.73 and a beta of 0.99. Masimo Co. has a 1 year low of $75.22 and a 1 year high of $188.76. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.18 and a quick ratio of 1.22.

Masimo (NASDAQ:MASI) last posted its quarterly earnings data on Tuesday, February 27th. The medical equipment provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.43. Masimo had a net margin of 3.98% and a return on equity of 13.77%. The company had revenue of $548.90 million for the quarter, compared to analyst estimates of $545.69 million. During the same period in the previous year, the business posted $1.32 earnings per share. Masimo’s quarterly revenue was down 11.0% on a year-over-year basis. As a group, analysts expect that Masimo Co. will post 3.51 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. BTIG Research boosted their target price on shares of Masimo from $145.00 to $166.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Stifel Nicolaus raised Masimo from a “hold” rating to a “buy” rating and increased their price objective for the company from $148.00 to $170.00 in a research note on Monday, April 15th. StockNews.com upgraded shares of Masimo from a “sell” rating to a “hold” rating in a research report on Friday, March 29th. Wells Fargo & Company upgraded shares of Masimo from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $117.00 to $160.00 in a report on Monday, March 25th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $121.00 price target (up previously from $107.00) on shares of Masimo in a report on Tuesday, January 30th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $137.43.

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.