Masimo Corporation $MASI Shares Sold 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 trimmed its position in shares of Masimo Corporation (NASDAQ:MASI - Free Report) by 57.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,772 shares of the medical equipment provider's stock after selling 11,658 shares during the period. Fred Alger Management LLC's holdings in Masimo were worth $1,461,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Masimo by 58.4% during the first quarter. GAMMA Investing LLC now owns 738 shares of the medical equipment provider's stock valued at $123,000 after buying an additional 272 shares during the last quarter. NBC Securities Inc. bought a new position in Masimo in the first quarter valued at $61,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Masimo by 2.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,039 shares of the medical equipment provider's stock valued at $673,000 after acquiring an additional 115 shares during the period. UMB Bank n.a. boosted its holdings in shares of Masimo by 134.0% during the 1st quarter. UMB Bank n.a. now owns 447 shares of the medical equipment provider's stock worth $74,000 after buying an additional 256 shares during the period. Finally, American Century Companies Inc. raised its stake in Masimo by 525.5% in the 1st quarter. American Century Companies Inc. now owns 79,176 shares of the medical equipment provider's stock worth $13,191,000 after purchasing an additional 66,517 shares in the last quarter. Institutional investors and hedge funds own 85.96% of the company's stock.

Insider Activity at Masimo

In other Masimo news, Director William R. Jellison acquired 3,000 shares of the company'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 acquisition, the director owned 4,790 shares in the company, valued at $699,244.20. The trade was a 167.60% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 9.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. BTIG Research reissued a "buy" rating and set a $198.00 target price on shares of Masimo in a report on Thursday. Wall Street Zen lowered shares of Masimo from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Zacks Research raised shares of Masimo from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Finally, Piper Sandler raised their target price on shares of Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Masimo currently has a consensus rating of "Buy" and a consensus target price of $194.60.

Masimo Trading Up 0.8%

NASDAQ:MASI traded up $1.23 during midday trading on Friday, hitting $147.44. 699,217 shares of the company traded hands, compared to its average volume of 574,415. The firm's fifty day moving average is $152.26 and its 200-day moving average is $159.49. The firm has a market capitalization of $8.01 billion, a P/E ratio of -17.31 and a beta of 1.23. 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 Corporation has a 12-month low of $111.03 and a 12-month high of $194.88.

Masimo (NASDAQ:MASI - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $370.90 million during the quarter, compared to analysts' expectations of $368.65 million. Masimo had a positive return on equity of 26.54% and a negative net margin of 24.85%.The firm's revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $0.86 earnings per share. On average, sell-side analysts predict that Masimo Corporation will post 4.1 EPS 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.