Erste Asset Management GmbH Acquires 9,348 Shares of Masimo Corporation $MASI

Key Points

• Erste Asset Management GmbH increased its stake in Masimo Corporation by 11.3%, holding a total of 92,000 shares valued at approximately $15.33 million.
• Masimo reported earnings per share of $1.33 for the recent quarter, surpassing analyst estimates and showcasing a 7.7% year-over-year revenue growth.
• Institutional investors and hedge funds collectively own over 85% of Masimo's stock, indicating strong institutional interest in the company.

Erste Asset Management GmbH increased its stake in Masimo Corporation (NASDAQ:MASI - Free Report) by 11.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 92,000 shares of the medical equipment provider's stock after buying an additional 9,348 shares during the period. Erste Asset Management GmbH owned 0.17% of Masimo worth $15,327,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Xponance Inc. boosted its stake in Masimo by 1.1% during the 1st quarter. Xponance Inc. now owns 7,101 shares of the medical equipment provider's stock valued at $1,183,000 after purchasing an additional 76 shares during the last quarter. Deutsche Bank AG boosted its stake in Masimo by 1.5% during the 1st quarter. Deutsche Bank AG now owns 6,309 shares of the medical equipment provider's stock valued at $1,051,000 after purchasing an additional 92 shares during the last quarter. State of Michigan Retirement System boosted its stake in Masimo by 1.0% during the 1st quarter. State of Michigan Retirement System now owns 10,596 shares of the medical equipment provider's stock valued at $1,765,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Masimo by 0.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 12,400 shares of the medical equipment provider's stock valued at $2,066,000 after purchasing an additional 100 shares during the last quarter. Finally, Securian Asset Management Inc. boosted its stake in Masimo by 3.0% during the 1st quarter. Securian Asset Management Inc. now owns 3,433 shares of the medical equipment provider's stock valued at $572,000 after purchasing an additional 100 shares during the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Masimo Stock Performance

Masimo stock traded up $4.39 during trading on Friday, reaching $148.63. The company had a trading volume of 429,976 shares, compared to its average volume of 898,562. Masimo Corporation has a 52 week low of $107.98 and a 52 week high of $194.88. The firm's 50-day simple moving average is $159.19 and its 200 day simple moving average is $162.88. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of -17.44 and a beta of 1.21. 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 announced its earnings results on Tuesday, August 5th. The medical equipment provider reported $1.33 EPS for the quarter, topping 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 company had revenue of $370.90 million for the quarter, compared to analysts' expectations of $368.65 million. During the same period last year, the firm earned $0.86 EPS. Masimo's revenue for the quarter was up 7.7% compared to the same quarter last year. Sell-side analysts forecast that Masimo Corporation will post 4.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MASI. BTIG Research restated a "buy" rating on shares of Masimo in a research note on Thursday, August 14th. Wall Street Zen downgraded Masimo from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Piper Sandler raised their price target on Masimo from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Raymond James Financial dropped their price target on Masimo from $204.00 to $185.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company dropped their price target on Masimo from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $193.60.

Insider Buying and Selling

In related news, Director William R. Jellison bought 3,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were bought at an average cost of $145.98 per share, with a total value of $437,940.00. Following the acquisition, the director owned 4,790 shares in the company, valued at $699,244.20. This trade represents a 167.60% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.70% of the company's stock.

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.