Nuveen LLC Acquires New Position in Masimo Corporation $MASI

Nuveen LLC purchased a new position in Masimo Corporation (NASDAQ:MASI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 155,045 shares of the medical equipment provider's stock, valued at approximately $25,830,000. Nuveen LLC owned about 0.29% of Masimo at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Farther Finance Advisors LLC raised its position in Masimo by 128.9% in the 1st quarter. Farther Finance Advisors LLC now owns 206 shares of the medical equipment provider's stock worth $35,000 after buying an additional 116 shares during the last quarter. NBC Securities Inc. purchased a new position in Masimo in the 1st quarter worth about $61,000. UMB Bank n.a. raised its position in Masimo by 134.0% in the 1st quarter. UMB Bank n.a. now owns 447 shares of the medical equipment provider's stock worth $74,000 after buying an additional 256 shares during the last quarter. GAMMA Investing LLC raised its position in Masimo by 58.4% in the 1st quarter. GAMMA Investing LLC now owns 738 shares of the medical equipment provider's stock worth $123,000 after buying an additional 272 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in Masimo in the 4th quarter worth about $163,000. Hedge funds and other institutional investors own 85.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Raymond James Financial decreased their target price on Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Piper Sandler boosted their target price on Masimo from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Wells Fargo & Company decreased their target price on Masimo from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. BTIG Research reissued a "buy" rating on shares of Masimo in a research report on Thursday, August 14th. Finally, Wall Street Zen lowered Masimo from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Masimo presently has a consensus rating of "Moderate Buy" and an average target price of $193.60.

Masimo Stock Performance

Shares of NASDAQ MASI traded up $5.24 during midday trading on Friday, hitting $149.48. 81,004 shares of the company's stock traded hands, compared to its average volume of 632,660. Masimo Corporation has a 1 year low of $107.98 and a 1 year high of $194.88. The stock has a market capitalization of $8.12 billion, a price-to-earnings ratio of -17.46 and a beta of 1.21. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.61 and a current ratio of 2.14. The firm has a fifty day moving average of $159.45 and a 200 day moving average of $163.17.

Masimo (NASDAQ:MASI - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The medical equipment provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.22 by $0.11. Masimo had a negative net margin of 24.85% and a positive return on equity of 26.54%. The firm had revenue of $370.90 million during the quarter, compared to analyst estimates of $368.65 million. During the same quarter in the prior year, the firm earned $0.86 EPS. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts forecast that Masimo Corporation will post 4.1 earnings per share for the current year.

Insider Activity

In related news, Director William R. Jellison acquired 3,000 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was bought at an average cost of $145.98 per share, for a total transaction of $437,940.00. Following the purchase, the director owned 4,790 shares in the company, valued at $699,244.20. The trade was a 167.60% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 9.70% of the company's stock.

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.