Cetera Investment Advisers Takes Position in Masimo Co. (NASDAQ:MASI)

Cetera Investment Advisers acquired a new position in Masimo Co. (NASDAQ:MASI - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,846 shares of the medical equipment provider's stock, valued at approximately $305,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its stake in shares of Masimo by 17.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 31,107 shares of the medical equipment provider's stock valued at $5,142,000 after purchasing an additional 4,579 shares in the last quarter. Lecap Asset Management Ltd. bought a new position in shares of Masimo during the fourth quarter valued at approximately $1,607,000. Trust Point Inc. acquired a new stake in Masimo in the fourth quarter valued at approximately $230,000. Barclays PLC boosted its stake in Masimo by 152.6% in the third quarter. Barclays PLC now owns 39,957 shares of the medical equipment provider's stock valued at $5,329,000 after acquiring an additional 24,137 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Masimo by 1,936.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 48,764 shares of the medical equipment provider's stock valued at $8,220,000 after acquiring an additional 46,370 shares in the last quarter. 85.96% of the stock is owned by hedge funds and other institutional investors.

Masimo Price Performance

MASI traded up $1.68 on Tuesday, reaching $166.71. 243,215 shares of the company's stock were exchanged, compared to its average volume of 649,022. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11. The stock has a market cap of $9.04 billion, a PE ratio of 114.97 and a beta of 1.23. The stock's fifty day moving average price is $157.10 and its 200-day moving average price is $167.26. Masimo Co. has a twelve month low of $101.61 and a twelve month high of $194.88.

Masimo (NASDAQ:MASI - Get Free Report) last posted its earnings results on Tuesday, May 6th. The medical equipment provider reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.12. The company had revenue of $372.00 million for the quarter, compared to analyst estimates of $367.79 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. Masimo's revenue was down 24.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 EPS. Sell-side analysts expect that Masimo Co. will post 4.1 EPS for the current year.

Insiders Place Their Bets

In other Masimo news, COO Bilal Muhsin sold 10,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $163.28, for a total value of $1,632,800.00. Following the sale, the chief operating officer now directly owns 24,172 shares of the company's stock, valued at approximately $3,946,804.16. This represents a 29.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Craig B. Reynolds sold 2,053 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $166.13, for a total transaction of $341,064.89. Following the completion of the sale, the director now directly owns 16,581 shares in the company, valued at approximately $2,754,601.53. This represents a 11.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,053 shares of company stock worth $6,998,565 in the last ninety days. 9.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MASI. Piper Sandler reissued an "overweight" rating and set a $200.00 target price (down previously from $215.00) on shares of Masimo in a report on Wednesday, May 7th. Needham & Company LLC reissued a "hold" rating on shares of Masimo in a report on Thursday, April 10th. BTIG Research set a $193.00 target price on shares of Masimo and gave the stock a "buy" rating in a report on Wednesday, May 7th. Raymond James reduced their target price 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, Wells Fargo & Company reduced their target price on shares of Masimo from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $191.60.

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.