Neo Ivy Capital Management Takes Position in Masimo Corporation (NASDAQ:MASI)

Key Points

• Neo Ivy Capital Management acquired 10,248 shares of Masimo Corporation (NASDAQ:MASI) in the first quarter, valued at approximately $1.7 million.
• Masimo's COO, Bilal Muhsin, recently sold 10,000 shares, reducing his ownership by 29.26%, and the stock is currently held 85.96% by institutional investors.
• Analysts have mixed ratings for Masimo; Wells Fargo lowered its price target from $205 to $190 while others maintain a "buy" or "hold" rating, resulting in a consensus price target of $191.60.

Neo Ivy Capital Management acquired a new position in shares of Masimo Corporation (NASDAQ:MASI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,248 shares of the medical equipment provider's stock, valued at approximately $1,707,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Assetmark Inc. boosted its stake in shares of Masimo by 25.7% during the first quarter. Assetmark Inc. now owns 1,466 shares of the medical equipment provider's stock valued at $244,000 after purchasing an additional 300 shares during the period. Legato Capital Management LLC purchased a new stake in shares of Masimo during the first quarter valued at $874,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Masimo during the first quarter valued at $1,067,000. Choreo LLC purchased a new stake in shares of Masimo during the first quarter valued at $239,000. Finally, Kestra Private Wealth Services LLC purchased a new stake in shares of Masimo during the first quarter valued at $482,000. 85.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MASI has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Masimo from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Needham & Company LLC reaffirmed a "hold" rating on shares of Masimo in a research note on Thursday, April 10th. BTIG Research reiterated a "buy" rating on shares of Masimo in a report on Monday, July 14th. Piper Sandler reiterated an "overweight" rating and issued a $200.00 target price (down from $215.00) on shares of Masimo in a report on Wednesday, May 7th. Finally, Raymond James Financial reduced their target price on shares of Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Masimo has a consensus rating of "Moderate Buy" and an average price target of $191.60.

Masimo Stock Down 1.3%

Shares of MASI traded down $2.03 during mid-day trading on Tuesday, hitting $160.15. 100,644 shares of the company traded hands, compared to its average volume of 594,262. The business has a 50 day moving average of $162.55 and a 200 day moving average of $165.63. The company has a quick ratio of 1.62, a current ratio of 2.17 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $8.68 billion, a PE ratio of -17.46 and a beta of 1.19. Masimo Corporation has a 1-year low of $101.61 and a 1-year high of $194.88.

Masimo (NASDAQ:MASI - Get Free Report) last posted its earnings results on Tuesday, May 6th. The medical equipment provider reported $1.36 EPS for the quarter, topping analysts' consensus estimates of $1.24 by $0.12. The company had revenue of $372.00 million for the quarter, compared to the consensus estimate of $367.79 million. Masimo had a positive return on equity of 22.56% and a negative net margin of 25.06%. Masimo's quarterly revenue was down 24.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 earnings per share. Equities research analysts anticipate that Masimo Corporation will post 4.1 EPS for the current year.

Insider Activity

In related news, COO Bilal Muhsin sold 10,000 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $163.28, for a total transaction of $1,632,800.00. Following the transaction, the chief operating officer directly owned 24,172 shares in the company, valued at approximately $3,946,804.16. This represents a 29.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 16.90% of the stock is owned by corporate insiders.

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.