Entropy Technologies LP Invests $300,000 in Masimo Corporation $MASI

Key Points

• Entropy Technologies LP acquired 1,803 shares of Masimo Corporation, valued at approximately $300,000, during the 1st quarter, indicating growing interest from institutional investors in the medical equipment sector.
• Masimo's stock is currently trading at $153.87, with a market capitalization of $8.36 billion and a recent earnings report exceeding analyst expectations.
• Recent analyst ratings show a mixed outlook for Masimo, with ratings ranging from "buy" to "hold," reflecting a consensus target price of $193.60.

Entropy Technologies LP bought a new stake in shares of Masimo Corporation (NASDAQ:MASI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,803 shares of the medical equipment provider's stock, valued at approximately $300,000.

Several other hedge funds have also recently added to or reduced their stakes in MASI. Capital Research Global Investors boosted its stake in 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 raised its holdings in Masimo by 13.4% in 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. Raymond James Financial Inc. acquired a new position in Masimo in the 4th quarter valued at approximately $33,716,000. Price T Rowe Associates Inc. MD raised its holdings in Masimo by 259.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 250,786 shares of the medical equipment provider's stock valued at $41,456,000 after acquiring an additional 181,070 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its holdings in Masimo by 8.9% in 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 acquiring an additional 135,888 shares in the last quarter. Institutional investors own 85.96% of the company's stock.

Masimo Price Performance

MASI stock traded down $3.8350 during midday trading on Tuesday, reaching $150.0950. 263,624 shares of the company's stock traded hands, compared to its average volume of 629,688. The company has a 50-day simple moving average of $160.72 and a two-hundred day simple moving average of $163.60. Masimo Corporation has a 1-year low of $107.98 and a 1-year high of $194.88. The company has a market cap of $8.15 billion, a price-to-earnings ratio of -17.62 and a beta of 1.21. 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 announced its quarterly earnings data on Tuesday, August 5th. The medical equipment provider reported $1.33 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $370.90 million for the quarter, compared to analyst estimates of $368.65 million. During the same period last year, the company earned $0.86 EPS. The business's quarterly revenue was up 7.7% compared to the same quarter last year. On average, analysts anticipate that Masimo Corporation will post 4.1 earnings per share for the current year.

Analysts Set New Price Targets

MASI has been the subject of several recent research reports. Piper Sandler upped their price target on Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Wall Street Zen cut Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Wells Fargo & Company cut their target price on Masimo from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Raymond James Financial lowered their price target on Masimo from $204.00 to $185.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Finally, BTIG Research reissued a "buy" rating on shares of Masimo in a report on Thursday. Five 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, Masimo currently has an average rating of "Moderate Buy" and an average target price of $193.60.

Insider Activity at Masimo

In other news, Director William R. Jellison purchased 3,000 shares of the business's stock in a transaction dated Monday, August 11th. The shares were bought 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 in the company, valued at approximately $699,244.20. This trade represents a 167.60% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.90% of the stock is currently owned by company insiders.

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.