Cetera Investment Advisers Acquires New Shares in Masimo Co. (NASDAQ:MASI)

Cetera Investment Advisers purchased a new position in Masimo Co. (NASDAQ:MASI - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,846 shares of the medical equipment provider's stock, valued at approximately $305,000.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC raised its stake in Masimo by 19.8% during the 4th quarter. FMR LLC now owns 8,097,454 shares of the medical equipment provider's stock worth $1,338,509,000 after acquiring an additional 1,340,836 shares during the period. Vanguard Group Inc. increased its stake in shares of Masimo by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 4,586,702 shares of the medical equipment provider's stock worth $758,182,000 after purchasing an additional 66,215 shares in the last quarter. Capital Research Global Investors raised its position in shares of Masimo by 80.5% during the 4th quarter. Capital Research Global Investors now owns 2,454,975 shares of the medical equipment provider's stock valued at $405,807,000 after purchasing an additional 1,094,647 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Masimo by 119.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,735,167 shares of the medical equipment provider's stock valued at $286,823,000 after buying an additional 943,001 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in shares of Masimo by 8.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,662,376 shares of the medical equipment provider's stock valued at $274,791,000 after buying an additional 135,888 shares in the last quarter. Hedge funds and other institutional investors own 85.96% of the company's stock.

Insider Buying and Selling

In related news, Director Craig B. Reynolds sold 2,053 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $166.13, for a total value of $341,064.89. Following the sale, the director now directly owns 16,581 shares of the company's stock, valued at $2,754,601.53. This represents a 11.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Bilal Muhsin sold 30,000 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $167.49, for a total transaction of $5,024,700.00. Following the completion of the sale, the chief operating officer now directly owns 24,172 shares of the company's stock, valued at approximately $4,048,568.28. The trade was a 55.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,053 shares of company stock worth $6,998,565 over the last three months. 9.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MASI shares. Wall Street Zen cut Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Piper Sandler reiterated an "overweight" rating and set a $200.00 target price (down previously from $215.00) on shares of Masimo in a research report on Wednesday, May 7th. BTIG Research set a $193.00 price target on Masimo and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Raymond James cut their price objective on shares of Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Masimo in a report on Thursday, April 10th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Masimo presently has an average rating of "Moderate Buy" and a consensus target price of $191.60.

Masimo Price Performance

Masimo stock traded down $0.87 during mid-day trading on Wednesday, reaching $162.96. 439,871 shares of the company's stock traded hands, compared to its average volume of 646,671. Masimo Co. has a 12-month low of $101.61 and a 12-month high of $194.88. The company has a quick ratio of 1.11, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. The stock has a 50 day moving average of $157.00 and a two-hundred day moving average of $167.21. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 112.39 and a beta of 1.23.

Masimo (NASDAQ:MASI - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The medical equipment provider reported $1.36 EPS for the quarter, topping the consensus estimate of $1.24 by $0.12. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The company had revenue of $372.00 million during the quarter, compared to analyst estimates of $367.79 million. During the same quarter last year, the business posted $0.77 earnings per share. The firm's revenue was down 24.5% on a year-over-year basis. Equities analysts forecast that Masimo Co. 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.