Advisors Asset Management Inc. Acquires 4,314 Shares of Masimo Corporation $MASI

Key Points

• Advisors Asset Management Inc. increased its stake in Masimo Corporation by 18.8%, owning 27,288 shares worth approximately $4.5 million at the end of the first quarter.
• A recent analysis has given Masimo a consensus price target of $193.60, with five analysts rating it a "Buy" and one a "Hold."
• Masimo's stock experienced a 4.6% increase, closing at $143.01, after reporting quarterly earnings of $1.33 per share, surpassing analysts' expectations.

Advisors Asset Management Inc. raised its stake in shares of Masimo Corporation (NASDAQ:MASI - Free Report) by 18.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,288 shares of the medical equipment provider's stock after buying an additional 4,314 shares during the period. Advisors Asset Management Inc. owned about 0.05% of Masimo worth $4,546,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in MASI. Durable Capital Partners LP bought a new stake in shares of Masimo during the 1st quarter valued at $187,528,000. Massachusetts Financial Services Co. MA boosted its holdings in Masimo by 13.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,967,838 shares of the medical equipment provider's stock worth $327,842,000 after buying an additional 232,671 shares during the period. Nuveen LLC bought a new position in Masimo in the 1st quarter worth $25,830,000. Alyeska Investment Group L.P. boosted its holdings in Masimo by 24.9% in the 1st quarter. Alyeska Investment Group L.P. now owns 722,534 shares of the medical equipment provider's stock worth $120,374,000 after buying an additional 143,899 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Masimo by 26,284.3% in the 1st quarter. GAMMA Investing LLC now owns 122,951 shares of the medical equipment provider's stock worth $20,484,000 after buying an additional 122,485 shares during the period. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on MASI. Wall Street Zen downgraded shares of Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Zacks Research raised shares of Masimo from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Piper Sandler upped their target price on shares of Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Finally, BTIG Research restated a "buy" rating on shares of Masimo in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $193.60.

Insider Activity at Masimo

In related news, Director William R. Jellison bought 3,000 shares of Masimo stock in a transaction dated Monday, August 11th. The shares were acquired at an average cost of $145.98 per share, with a total value of $437,940.00. Following the completion of the transaction, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 16.90% of the company's stock.

Masimo Trading Down 1.5%

Masimo stock traded down $2.22 during midday trading on Wednesday, reaching $145.91. The stock had a trading volume of 64,341 shares, compared to its average volume of 629,716. The company has a quick ratio of 1.61, a current ratio of 2.14 and a debt-to-equity ratio of 0.57. Masimo Corporation has a 52-week low of $111.03 and a 52-week high of $194.88. The firm has a market cap of $7.93 billion, a price-to-earnings ratio of -17.13 and a beta of 1.23. The company has a fifty day moving average of $153.60 and a 200 day moving average of $159.91.

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

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.