Baird Financial Group Inc. Buys 10,922 Shares of Masimo Corporation $MASI

Key Points

• Baird Financial Group Inc. increased its stake in Masimo Corporation by 31.9%, acquiring an additional 10,922 shares for a total of 45,120 shares valued at approximately $7.5 million.
• Masimo Corporation reported $1.33 earnings per share for the last quarter, which was higher than analysts' expectations of $1.22, along with a revenue of $370.90 million.
• Five analysts have rated Masimo stock as a Buy, with a consensus target price of $193.60.

Baird Financial Group Inc. lifted its stake in Masimo Corporation (NASDAQ:MASI - Free Report) by 31.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,120 shares of the medical equipment provider's stock after buying an additional 10,922 shares during the period. Baird Financial Group Inc. owned approximately 0.08% of Masimo worth $7,517,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Vident Advisory LLC bought a new stake in Masimo during the first quarter worth $466,000. Price T Rowe Associates Inc. MD lifted its stake in Masimo by 12.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 282,637 shares of the medical equipment provider's stock worth $47,088,000 after purchasing an additional 31,851 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Masimo by 0.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,673,252 shares of the medical equipment provider's stock worth $278,764,000 after purchasing an additional 10,876 shares during the last quarter. Erste Asset Management GmbH lifted its stake in Masimo by 11.3% during the first quarter. Erste Asset Management GmbH now owns 92,000 shares of the medical equipment provider's stock worth $15,327,000 after purchasing an additional 9,348 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in Masimo during the first quarter worth $894,000. 85.96% of the stock is currently owned by institutional investors.

Masimo Stock Performance

NASDAQ MASI opened at $136.77 on Thursday. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of -16.05 and a beta of 1.23. Masimo Corporation has a twelve month low of $107.98 and a twelve month high of $194.88. The stock has a fifty day simple moving average of $155.30 and a 200 day simple moving average of $160.88. 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 (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, beating analysts' consensus estimates of $1.22 by $0.11. The business had revenue of $370.90 million during the quarter, compared to the consensus estimate of $368.65 million. Masimo had a positive return on equity of 26.54% and a negative net margin of 24.85%.Masimo's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 earnings per share. Sell-side analysts expect that Masimo Corporation will post 4.1 EPS for the current year.

Insiders Place Their Bets

In related news, Director William R. Jellison acquired 3,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was acquired at an average cost of $145.98 per share, for a total transaction of $437,940.00. Following the completion of the acquisition, the director directly owned 4,790 shares of the company's stock, valued at approximately $699,244.20. This trade represents a 167.60% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 16.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on MASI. Piper Sandler increased their price target on Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. BTIG Research reiterated a "buy" rating on shares of Masimo in a research note on Thursday, August 14th. Wall Street Zen cut Masimo from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Wells Fargo & Company dropped their price target on Masimo from $205.00 to $190.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Finally, Raymond James Financial dropped their price target on Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.

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