Harbor Capital Advisors Inc. Invests $4.44 Million in Masimo Corporation $MASI

Key Points

• Harbor Capital Advisors Inc. acquired 26,412 shares of Masimo Corporation valued at approximately $4.4 million during Q2, reflecting increased institutional interest in the company.
• Insider activity saw Director William R. Jellison purchase 3,000 shares, increasing his stake by 167.60% at an average cost of $145.98 per share.
• Masimo recently reported earnings of $1.33 per share, exceeding estimates of $1.22, with a year-over-year revenue increase of 7.7% to $370.9 million.

Harbor Capital Advisors Inc. acquired a new position in shares of Masimo Corporation (NASDAQ:MASI - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 26,412 shares of the medical equipment provider's stock, valued at approximately $4,443,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MASI. Twin Tree Management LP bought a new position in shares of Masimo in the first quarter valued at approximately $29,000. Farther Finance Advisors LLC lifted its position in Masimo by 128.9% in the 1st quarter. Farther Finance Advisors LLC now owns 206 shares of the medical equipment provider's stock valued at $35,000 after acquiring an additional 116 shares in the last quarter. Anderson Financial Strategies LLC bought a new stake in Masimo during the 1st quarter worth about $49,000. NBC Securities Inc. bought a new stake in Masimo during the 1st quarter worth about $61,000. Finally, UMB Bank n.a. increased its stake 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 purchasing an additional 256 shares during the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.

Masimo Stock Down 1.8%

Shares of NASDAQ:MASI traded down $2.57 during trading on Friday, hitting $140.43. 1,106,202 shares of the company were exchanged, compared to its average volume of 584,385. 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 fifty-two week low of $113.54 and a fifty-two week high of $194.88. The firm has a fifty day moving average price of $150.14 and a two-hundred day moving average price of $157.74. The stock has a market cap of $7.63 billion, a price-to-earnings ratio of -16.48 and a beta of 1.23.

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, topping analysts' consensus estimates of $1.22 by $0.11. The business 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 business's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 EPS. As a group, research analysts anticipate that Masimo Corporation will post 4.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Piper Sandler upped their price target on shares of Masimo from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. BTIG Research reissued a "buy" rating and issued a $198.00 price target on shares of Masimo in a research report on Thursday, September 11th. Zacks Research upgraded shares of Masimo from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Finally, Wall Street Zen lowered shares of Masimo from a "buy" rating to a "hold" rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Masimo has a consensus rating of "Buy" and an average target price of $194.60.

Insider Activity at Masimo

In other Masimo news, Director William R. Jellison purchased 3,000 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was purchased at an average price 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 approximately $699,244.20. The trade was a 167.60% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.70% of the stock is 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.