Masimo Corporation $MASI Shares Purchased by Advisors Asset Management Inc.

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. boosted its position in shares of Masimo Corporation (NASDAQ:MASI - Free Report) by 18.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,288 shares of the medical equipment provider's stock after purchasing an additional 4,314 shares during the quarter. Advisors Asset Management Inc. owned about 0.05% of Masimo worth $4,546,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

Several brokerages have issued reports on MASI. Wall Street Zen cut Masimo from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. BTIG Research reissued a "buy" rating on shares of Masimo in a research report on Thursday, August 14th. Piper Sandler raised their price objective on Masimo from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Finally, Zacks Research raised Masimo from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. One 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.com, the stock has an average rating of "Buy" and a consensus target price of $193.60.

Insider Buying and Selling at Masimo

In related news, Director William R. Jellison bought 3,000 shares of the stock in a transaction dated Monday, August 11th. The shares were acquired at an average cost of $145.98 per share, for a total transaction of $437,940.00. Following the acquisition, the director directly owned 4,790 shares in the company, valued at approximately $699,244.20. This trade represents a 167.60% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.70% of the stock is currently owned by corporate insiders.

Masimo Price Performance

NASDAQ:MASI traded down $0.67 during trading hours on Tuesday, hitting $148.12. 355,751 shares of the stock were exchanged, compared to its average volume of 633,088. Masimo Corporation has a 52-week low of $110.78 and a 52-week high of $194.88. The firm's fifty day moving average price is $154.02 and its 200 day moving average price is $159.99. The company has a current ratio of 2.14, a quick ratio of 1.61 and a debt-to-equity ratio of 0.57. The company has a market cap of $8.05 billion, a P/E ratio of -17.38 and a beta of 1.23.

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

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.