American Century Companies Inc. Raises Stock Holdings in Masimo Corporation $MASI

Key Points

• American Century Companies Inc. significantly increased its stake in Masimo Corporation by 525.5%, acquiring an additional 66,517 shares during the first quarter, bringing their total ownership to 79,176 shares worth approximately $13.2 million.
• In the first quarter, several institutional investors adjusted their holdings in Masimo, including Dimensional Fund Advisors LP, which raised its stake by 8.6%, and Russell Investments Group Ltd., which increased its holdings by 76.4%.
• Masimo reported a quarterly EPS of $1.33, surpassing analyst expectations of $1.22, and noted a year-over-year revenue increase of 7.7%, amounting to $370.90 million for the quarter.

American Century Companies Inc. grew its holdings in shares of Masimo Corporation (NASDAQ:MASI - Free Report) by 525.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,176 shares of the medical equipment provider's stock after purchasing an additional 66,517 shares during the quarter. American Century Companies Inc. owned about 0.15% of Masimo worth $13,191,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mariner LLC boosted its position in shares of Masimo by 10.2% in the fourth quarter. Mariner LLC now owns 3,459 shares of the medical equipment provider's stock valued at $572,000 after acquiring an additional 321 shares during the period. Marshall Wace LLP bought a new position in shares of Masimo in the fourth quarter valued at approximately $2,197,000. First Trust Advisors LP boosted its position in shares of Masimo by 780.4% in the fourth quarter. First Trust Advisors LP now owns 47,328 shares of the medical equipment provider's stock valued at $7,823,000 after acquiring an additional 41,952 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Masimo by 8.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 647,720 shares of the medical equipment provider's stock valued at $107,076,000 after acquiring an additional 50,022 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of Masimo by 141.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,588 shares of the medical equipment provider's stock valued at $428,000 after acquiring an additional 1,515 shares during the period. Institutional investors own 85.96% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Piper Sandler raised their price objective 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. Raymond James Financial cut their price objective on shares of Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a research report 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. Wells Fargo & Company cut their price objective on shares of Masimo from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Finally, BTIG Research reaffirmed a "buy" rating on shares of Masimo in a research note on Thursday, August 14th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $193.60.

Insider Activity at Masimo

In other Masimo news, Director William R. Jellison purchased 3,000 shares of the firm's stock in a transaction on Monday, August 11th. The shares were purchased at an average cost of $145.98 per share, with a total value of $437,940.00. Following the completion of the purchase, the director owned 4,790 shares of the company's stock, 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 through this link. Company insiders own 9.70% of the company's stock.

Masimo Price Performance

Shares of MASI stock traded down $1.54 during trading hours on Thursday, hitting $140.95. 668,122 shares of the company's stock were exchanged, compared to its average volume of 888,083. The company has a market capitalization of $7.66 billion, a PE ratio of -16.54 and a beta of 1.21. Masimo Corporation has a 12-month low of $107.98 and a 12-month high of $194.88. The business's 50 day simple moving average is $157.68 and its 200-day simple moving average is $162.01. The company has a current ratio of 2.14, a quick ratio of 1.61 and a debt-to-equity ratio of 0.57.

Masimo (NASDAQ:MASI - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $370.90 million for the quarter, compared to the consensus estimate of $368.65 million. Masimo had a negative net margin of 24.85% and a positive return on equity of 26.54%. The business's revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. On average, equities research analysts anticipate that Masimo Corporation will post 4.1 earnings per share for the current year.

About Masimo

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.