Intech Investment Management LLC Raises Stake in Masimo Corporation $MASI

Key Points

• Intech Investment Management LLC has increased its stake in Masimo Corporation by 26.8% to approximately $5.41 million in the first quarter, owning about 0.06% of the company.
• Multiple institutional investors have significantly increased their positions in Masimo, including American Century Companies Inc., which grew its stake by 525.5%.
• Recent analyst reports show mixed ratings for Masimo, with a price target ranging from $194.60 to $210.00, indicating a general optimism about its stock performance.

Intech Investment Management LLC boosted its position in shares of Masimo Corporation (NASDAQ:MASI - Free Report) by 26.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,494 shares of the medical equipment provider's stock after acquiring an additional 6,872 shares during the period. Intech Investment Management LLC owned 0.06% of Masimo worth $5,414,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its stake in Masimo by 13.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,967,838 shares of the medical equipment provider's stock worth $327,842,000 after acquiring an additional 232,671 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in Masimo by 0.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,673,252 shares of the medical equipment provider's stock valued at $278,764,000 after buying an additional 10,876 shares in the last quarter. Durable Capital Partners LP purchased a new stake in Masimo during the 1st quarter valued at approximately $187,528,000. Alyeska Investment Group L.P. grew its holdings in Masimo by 24.9% during the 1st quarter. Alyeska Investment Group L.P. now owns 722,534 shares of the medical equipment provider's stock valued at $120,374,000 after buying an additional 143,899 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Masimo by 8.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 703,378 shares of the medical equipment provider's stock valued at $117,172,000 after buying an additional 55,658 shares in the last quarter. Institutional investors own 85.96% of the company's stock.

Insider Activity

In related news, Director William R. Jellison acquired 3,000 shares of the business's stock in a transaction dated Monday, August 11th. The shares were purchased at an average price of $145.98 per share, for a total transaction of $437,940.00. Following the completion of the acquisition, the director directly owned 4,790 shares in the company, valued at $699,244.20. The trade was a 167.60% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.90% of the stock is currently owned by company insiders.

Masimo Stock Up 0.4%

Shares of MASI stock traded up $0.55 on Wednesday, hitting $143.55. The stock had a trading volume of 369,452 shares, compared to its average volume of 630,688. The company has a quick ratio of 1.61, a current ratio of 2.14 and a debt-to-equity ratio of 0.57. The business has a 50 day moving average price of $151.54 and a 200 day moving average price of $158.68. The company has a market cap of $7.80 billion, a PE ratio of -16.82 and a beta of 1.23. Masimo Corporation has a one year low of $111.03 and a one year high of $194.88.

Masimo (NASDAQ:MASI - Get Free Report) last posted its earnings results on Tuesday, August 5th. The medical equipment provider reported $1.33 earnings per share (EPS) 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 company had revenue of $370.90 million for the quarter, compared to analyst estimates of $368.65 million. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. Research analysts anticipate that Masimo Corporation will post 4.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

MASI has been the subject of a number of research analyst reports. BTIG Research reaffirmed a "buy" rating and set a $198.00 price objective on shares of Masimo in a report on Thursday, September 11th. 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 report on Wednesday, August 6th. Zacks Research raised 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 report on Friday, May 30th. 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 presently has an average rating of "Buy" and a consensus price target of $194.60.

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.