Great Lakes Advisors LLC Has $15.47 Million Stock Position in Masimo Corporation $MASI

Key Points

• Great Lakes Advisors LLC sold 2,858 shares of Masimo Corporation, reducing its position by 3.0% to a total of 92,872 shares valued at approximately $15.47 million.
• Masimo received positive analyst attention with BTIG Research reiterating a "buy" rating and Zacks upgrading it to a "strong-buy", indicating confidence in the stock's performance.
• Director William R. Jellison increased his stake by purchasing 3,000 shares of Masimo at an average price of $145.98, representing a significant increase in his position.

Great Lakes Advisors LLC lessened its position in Masimo Corporation (NASDAQ:MASI - Free Report) by 3.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 92,872 shares of the medical equipment provider's stock after selling 2,858 shares during the period. Great Lakes Advisors LLC owned approximately 0.17% of Masimo worth $15,472,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Twin Tree Management LP acquired a new stake in shares of Masimo in the 1st quarter worth about $29,000. Farther Finance Advisors LLC increased its holdings in shares of Masimo by 128.9% in the 1st quarter. Farther Finance Advisors LLC now owns 206 shares of the medical equipment provider's stock worth $35,000 after acquiring an additional 116 shares during the period. NBC Securities Inc. acquired a new stake in shares of Masimo in the 1st quarter worth about $61,000. UMB Bank n.a. increased its holdings in shares of Masimo by 134.0% in the 1st quarter. UMB Bank n.a. now owns 447 shares of the medical equipment provider's stock worth $74,000 after acquiring an additional 256 shares during the period. Finally, Quarry LP increased its holdings in shares of Masimo by 253.5% in the 1st quarter. Quarry LP now owns 449 shares of the medical equipment provider's stock worth $75,000 after acquiring an additional 322 shares during the period. Institutional investors and hedge funds own 85.96% of the company's stock.

Masimo Price Performance

MASI stock traded up $1.23 during trading hours on Friday, hitting $147.44. 699,217 shares of the stock traded hands, compared to its average volume of 587,317. The stock has a 50-day simple moving average of $152.26 and a 200 day simple moving average of $159.09. Masimo Corporation has a one year low of $111.03 and a one year high of $194.88. The company has a market cap 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 (NASDAQ:MASI - Get Free Report) last announced its earnings results on Tuesday, August 5th. The medical equipment provider reported $1.33 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $370.90 million during the quarter, compared to analysts' expectations of $368.65 million. During the same quarter last year, the business posted $0.86 earnings per share. The company's quarterly revenue was up 7.7% on a year-over-year basis. Equities analysts forecast that Masimo Corporation will post 4.1 earnings per share for the current year.

Insider Buying and Selling at Masimo

In related news, Director William R. Jellison purchased 3,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was acquired at an average price of $145.98 per share, for a total transaction of $437,940.00. Following the transaction, the director directly owned 4,790 shares of the company's stock, valued at $699,244.20. This trade represents a 167.60% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 9.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Zacks Research raised Masimo from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Wall Street Zen lowered Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. BTIG Research reissued a "buy" rating and set a $198.00 price target on shares of Masimo in a report on Thursday. Finally, Piper Sandler raised 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. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Masimo presently has a consensus rating of "Buy" and an average price target of $194.60.

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.