Informed Momentum Co LLC Takes $3.82 Million Position in Masimo Corporation (NASDAQ:MASI)

Key Points

• Informed Momentum Co LLC has acquired 22,952 shares of Masimo Corporation, valued at approximately $3.82 million, marking a new investment in the medical equipment provider.
• Institutional investors hold 85.96% of Masimo's stock, with several others recently increasing their stakes, indicating strong interest in the company.
• Masimo reported a quarterly revenue of $370.90 million, exceeding analysts' expectations, and its earnings per share were $1.33, above the consensus estimate of $1.22.

Informed Momentum Co LLC purchased a new position in shares of Masimo Corporation (NASDAQ:MASI - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 22,952 shares of the medical equipment provider's stock, valued at approximately $3,824,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MASI. Farther Finance Advisors LLC lifted its stake in shares of Masimo by 128.9% during 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 last quarter. NBC Securities Inc. bought a new stake in shares of Masimo during the 1st quarter worth approximately $61,000. UMB Bank n.a. lifted 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 acquiring an additional 256 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Masimo by 58.4% during the 1st quarter. GAMMA Investing LLC now owns 738 shares of the medical equipment provider's stock worth $123,000 after acquiring an additional 272 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Masimo during the 4th quarter worth approximately $163,000. 85.96% of the stock is owned by institutional investors.

Insider Activity

In related news, Director William R. Jellison purchased 3,000 shares of the business's stock in a transaction dated Monday, August 11th. The shares were acquired at an average cost of $145.98 per share, for a total transaction of $437,940.00. Following the acquisition, the director owned 4,790 shares of the company's stock, valued at $699,244.20. The trade was a 167.60% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company decreased their price target on Masimo from $205.00 to $190.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Raymond James Financial decreased their target price on Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. BTIG Research reaffirmed a "buy" rating on shares of Masimo in a research report on Thursday. Wall Street Zen lowered Masimo from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Piper Sandler lifted their target price on Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $193.60.

Masimo Stock Down 2.6%

NASDAQ MASI traded down $4.09 on Thursday, reaching $151.87. 970,159 shares of the stock traded hands, compared to its average volume of 634,932. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.61 and a current ratio of 2.14. The company has a fifty day moving average price of $161.44 and a 200-day moving average price of $164.11. The company has a market cap of $8.25 billion, a price-to-earnings ratio of -17.83 and a beta of 1.21. Masimo Corporation has a 12 month low of $107.98 and a 12 month 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 for the quarter, beating 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 business had revenue of $370.90 million during the quarter, compared to analyst estimates of $368.65 million. During the same period in the previous year, the company posted $0.86 EPS. Masimo's revenue was up 7.7% on a year-over-year basis. As a group, research analysts forecast that Masimo Corporation will post 4.1 EPS for the current fiscal 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.