33,394 Shares in Masimo Co. (NASDAQ:MASI) Acquired by Norges Bank

Norges Bank purchased a new stake in Masimo Co. (NASDAQ:MASI) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 33,394 shares of the medical equipment provider’s stock, valued at approximately $5,520,000.

Several other institutional investors have also modified their holdings of MASI. Jones Financial Companies Lllp purchased a new position in Masimo in the fourth quarter valued at $27,000. UMB Bank n.a. increased its holdings in Masimo by 180.9% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 123 shares during the period. Trust Co. of Vermont acquired a new stake in Masimo in the 4th quarter valued at about $33,000. Blue Trust Inc. boosted its stake in shares of Masimo by 56.3% in the 4th quarter. Blue Trust Inc. now owns 197 shares of the medical equipment provider’s stock valued at $33,000 after buying an additional 71 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of Masimo by 40.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 224 shares of the medical equipment provider’s stock worth $37,000 after buying an additional 64 shares in the last quarter. Institutional investors and hedge funds own 85.96% of the company’s stock.

Insider Activity at Masimo

In other news, Director Craig B. Reynolds sold 2,053 shares of Masimo stock in a transaction on Friday, March 14th. The shares were sold at an average price of $166.13, for a total value of $341,064.89. Following the transaction, the director now directly owns 16,581 shares of the company’s stock, valued at $2,754,601.53. The trade was a 11.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Bilal Muhsin sold 30,000 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $167.49, for a total transaction of $5,024,700.00. Following the sale, the chief operating officer now 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 Trading Up 13.4 %

Shares of Masimo stock opened at $164.57 on Thursday. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The company has a fifty day simple moving average of $171.45 and a 200-day simple moving average of $163.95. The stock has a market cap of $8.89 billion, a price-to-earnings ratio of 113.50 and a beta of 1.28. Masimo Co. has a 12-month low of $101.61 and a 12-month high of $194.88.

Masimo (NASDAQ:MASI) last released its quarterly earnings data on Tuesday, February 25th. The medical equipment provider reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.38. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The company had revenue of $600.70 million during the quarter, compared to the consensus estimate of $593.35 million. On average, equities analysts forecast that Masimo Co. will post 4.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MASI. Wells Fargo & Company lifted their price target on shares of Masimo from $193.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research report on Wednesday, February 26th. Raymond James increased their target price on Masimo from $170.00 to $194.00 and gave the company an “outperform” rating in a report on Friday, December 27th. Finally, Piper Sandler lifted their price target on Masimo from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $194.80.

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.