Masimo Corporation $MASI Stock Position Decreased by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC has reduced its stake in Masimo Corporation by 57.1%, holding 8,772 shares valued at approximately $1.46 million as of the latest quarter.
• Insider trades revealed Director William R. Jellison purchased 3,000 shares for about $437,940, raising his total holdings to 4,790 shares.
• Masimo's latest earnings report showed an EPS of $1.33, exceeding analyst expectations, with a revenue increase of 7.7% year-over-year.

Fred Alger Management LLC decreased its holdings in shares of Masimo Corporation (NASDAQ:MASI - Free Report) by 57.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,772 shares of the medical equipment provider's stock after selling 11,658 shares during the quarter. Fred Alger Management LLC's holdings in Masimo were worth $1,461,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Masimo by 0.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,371 shares of the medical equipment provider's stock valued at $1,894,000 after acquiring an additional 66 shares in the last quarter. Xponance Inc. lifted its holdings in shares of 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 acquiring an additional 76 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of 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 acquiring an additional 92 shares in the last quarter. State of Michigan Retirement System lifted its holdings in shares of 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 acquiring an additional 100 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in shares of 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 acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 85.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MASI shares. Wall Street Zen lowered shares of Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Zacks Research upgraded shares of Masimo from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Piper Sandler boosted their price objective on shares of Masimo from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Finally, BTIG Research reiterated a "buy" rating and issued a $198.00 price objective on shares of Masimo in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $194.60.

Masimo Stock Down 0.9%

Shares of Masimo stock traded down $1.26 during trading on Monday, reaching $146.18. The company had a trading volume of 180,647 shares, compared to its average volume of 629,330. The company has a market cap of $7.94 billion, a price-to-earnings ratio of -17.11 and a beta of 1.23. The firm's fifty day moving average is $152.26 and its 200-day moving average is $159.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.61 and a current ratio of 2.14. Masimo Corporation has a fifty-two week low of $111.03 and a fifty-two week high of $194.88.

Masimo (NASDAQ:MASI - Get Free Report) last issued its earnings results on Tuesday, August 5th. The medical equipment provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.22 by $0.11. The business had revenue of $370.90 million for the quarter, compared to analyst estimates of $368.65 million. Masimo had a negative net margin of 24.85% and a positive return on equity of 26.54%. The company's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.86 EPS. On average, analysts anticipate that Masimo Corporation will post 4.1 EPS for the current year.

Insider Activity

In related news, Director William R. Jellison bought 3,000 shares of the business's stock in a transaction dated Monday, August 11th. The shares were acquired at an average price of $145.98 per share, for a total transaction of $437,940.00. Following the purchase, the director owned 4,790 shares in the company, valued at $699,244.20. This trade represents a 167.60% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company 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.