First Trust Advisors LP Acquires 41,952 Shares of Masimo Co. (NASDAQ:MASI)

First Trust Advisors LP grew its holdings in Masimo Co. (NASDAQ:MASI) by 780.4% in the 4th quarter, Holdings Channel reports. The fund owned 47,328 shares of the medical equipment provider’s stock after purchasing an additional 41,952 shares during the quarter. First Trust Advisors LP’s holdings in Masimo were worth $7,823,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of MASI. Barclays PLC raised its holdings in Masimo by 152.6% in the 3rd quarter. Barclays PLC now owns 39,957 shares of the medical equipment provider’s stock valued at $5,329,000 after acquiring an additional 24,137 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Masimo in the third quarter valued at $319,000. GAMMA Investing LLC lifted its position in Masimo by 136.5% in the fourth quarter. GAMMA Investing LLC now owns 466 shares of the medical equipment provider’s stock worth $77,000 after purchasing an additional 269 shares during the period. Nordea Investment Management AB boosted its stake in Masimo by 0.7% during the fourth quarter. Nordea Investment Management AB now owns 19,182 shares of the medical equipment provider’s stock worth $3,206,000 after buying an additional 142 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new stake in Masimo in the 4th quarter valued at $241,000. Institutional investors own 85.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MASI shares. Piper Sandler raised their price objective on shares of Masimo from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Wells Fargo & Company lifted their price objective on Masimo from $193.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a research note on Thursday, April 10th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $194.80.

Insiders Place Their Bets

In other news, Director Craig B. Reynolds sold 2,053 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $166.13, for a total transaction of $341,064.89. Following the transaction, the director now directly owns 16,581 shares in the company, valued at approximately $2,754,601.53. This represents a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Bilal Muhsin sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $167.49, for a total transaction of $5,024,700.00. Following the completion of the sale, the chief operating officer now directly owns 24,172 shares of the company’s stock, valued at approximately $4,048,568.28. This represents a 55.38 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.70% of the company’s stock.

Masimo Stock Performance

NASDAQ:MASI opened at $163.14 on Wednesday. The stock has a market capitalization of $8.82 billion, a P/E ratio of 112.51 and a beta of 1.28. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. Masimo Co. has a 1 year low of $101.61 and a 1 year high of $194.88. The firm has a 50 day moving average of $165.12 and a 200-day moving average of $165.88.

Masimo (NASDAQ:MASI) last posted its quarterly earnings data on Tuesday, February 25th. The medical equipment provider reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.38. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The company had revenue of $600.70 million for the quarter, compared to analyst estimates of $593.35 million. As a group, sell-side analysts anticipate that Masimo Co. will post 4.1 EPS for the current fiscal year.

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.