Algert Global LLC Buys New Stake in Masimo Corporation $MASI

Key Points

• Algert Global LLC acquired 7,310 shares of Masimo Corporation, valued at approximately $1,218,000, during the first quarter.
• Masimo reported $1.33 EPS for the latest quarter, surpassing analysts' expectations, and its revenue increased by 7.7% compared to the prior year.
• Analysts have differing ratings on Masimo, with five rating it as a Buy and one as a Hold, while the consensus price target stands at $193.60.

Algert Global LLC purchased a new stake in shares of Masimo Corporation (NASDAQ:MASI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,310 shares of the medical equipment provider's stock, valued at approximately $1,218,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in MASI. Massachusetts Financial Services Co. MA lifted its stake in Masimo by 13.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,967,838 shares of the medical equipment provider's stock worth $327,842,000 after acquiring an additional 232,671 shares during the period. Dimensional Fund Advisors LP increased its holdings in Masimo by 8.6% during the first quarter. Dimensional Fund Advisors LP now owns 703,378 shares of the medical equipment provider's stock valued at $117,172,000 after buying an additional 55,658 shares during the period. Northern Trust Corp raised its stake in Masimo by 27.5% in the fourth quarter. Northern Trust Corp now owns 383,869 shares of the medical equipment provider's stock worth $63,454,000 after buying an additional 82,828 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Masimo by 259.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 250,786 shares of the medical equipment provider's stock worth $41,456,000 after buying an additional 181,070 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Masimo by 8.0% during the fourth quarter. Ameriprise Financial Inc. now owns 215,946 shares of the medical equipment provider's stock worth $35,696,000 after buying an additional 16,085 shares during the period. 85.96% of the stock is currently owned by institutional investors.

Masimo Stock Performance

Shares of NASDAQ MASI traded down $2.39 during mid-day trading on Thursday, hitting $140.11. The stock had a trading volume of 216,658 shares, compared to its average volume of 631,783. The firm has a market cap of $7.61 billion, a PE ratio of -16.45 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 company has a 50 day moving average of $158.12 and a two-hundred day moving average of $162.27. Masimo Corporation has a twelve month low of $107.98 and a twelve month high of $194.88.

Masimo (NASDAQ:MASI - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The medical equipment provider reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.22 by $0.11. The company had revenue of $370.90 million during the quarter, compared to analysts' expectations of $368.65 million. Masimo had a positive return on equity of 26.54% and a negative net margin of 24.85%.The firm's revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 EPS. Research analysts predict that Masimo Corporation will post 4.1 EPS for the current fiscal year.

Insider Activity at Masimo

In other news, Director William R. Jellison bought 3,000 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were purchased at an average price of $145.98 per share, for a total transaction of $437,940.00. Following the completion of the transaction, the director directly owned 4,790 shares in the company, valued at approximately $699,244.20. This represents a 167.60% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

MASI has been the topic of a number of analyst reports. Piper Sandler lifted their price target on Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. BTIG Research reaffirmed a "buy" rating on shares of Masimo in a research report on Thursday, August 14th. Raymond James Financial cut their target price on Masimo from $204.00 to $185.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Wall Street Zen lowered shares of Masimo from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Wells Fargo & Company cut their price objective on shares of Masimo from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $193.60.

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.