Crestline Management LP Makes New Investment in Masimo Co. (NASDAQ:MASI)

Crestline Management LP acquired a new position in shares of Masimo Co. (NASDAQ:MASI - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,800 shares of the medical equipment provider's stock, valued at approximately $298,000.

Several other large investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new position in shares of Masimo in the fourth quarter valued at about $27,000. UMB Bank n.a. raised its holdings in shares of Masimo by 180.9% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the medical equipment provider's stock valued at $32,000 after buying an additional 123 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Masimo by 56.3% in the fourth 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 last quarter. Trust Co. of Vermont bought a new position in shares of Masimo in the fourth quarter valued at about $33,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Masimo by 40.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 224 shares of the medical equipment provider's stock valued at $37,000 after buying an additional 64 shares during the last quarter. 85.96% of the stock is owned by institutional investors.

Insider Activity at Masimo

In related news, COO Bilal Muhsin sold 30,000 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $167.49, for a total value of $5,024,700.00. Following the completion of the transaction, the chief operating officer now directly owns 24,172 shares in the company, valued at approximately $4,048,568.28. The trade was a 55.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Craig B. Reynolds sold 2,053 shares of Masimo stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $166.13, for a total value of $341,064.89. Following the completion of the sale, the director now directly owns 16,581 shares in the company, valued at $2,754,601.53. This represents a 11.02% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 42,053 shares of company stock worth $6,998,565. 9.70% of the stock is owned by company insiders.

Masimo Trading Down 5.2%

Shares of Masimo stock traded down $8.41 during trading on Wednesday, hitting $153.15. 1,046,310 shares of the company were exchanged, compared to its average volume of 660,889. The firm has a market capitalization of $8.30 billion, a P/E ratio of 105.62 and a beta of 1.23. Masimo Co. has a 1-year low of $101.61 and a 1-year high of $194.88. The firm's fifty day moving average price is $160.93 and its 200 day moving average price is $167.07. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11.

Masimo (NASDAQ:MASI - Get Free Report) last posted its earnings results on Tuesday, May 6th. The medical equipment provider reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.12. The company had revenue of $372.00 million during the quarter, compared to analyst estimates of $367.79 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The company's revenue for the quarter was down 24.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.77 EPS. As a group, sell-side analysts expect that Masimo Co. will post 4.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wells Fargo & Company cut their price target on Masimo from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Piper Sandler reissued an "overweight" rating and set a $200.00 price objective (down from $215.00) on shares of Masimo in a report on Wednesday, May 7th. Needham & Company LLC reissued a "hold" rating on shares of Masimo in a report on Thursday, April 10th. BTIG Research set a $193.00 price objective on Masimo and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, Raymond James dropped their price objective on Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. One investment 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 stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $191.60.

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.