Intech Investment Management LLC Boosts Holdings 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 increased its stake in shares of Masimo Corporation (NASDAQ:MASI - Free Report) by 26.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,494 shares of the medical equipment provider's stock after buying an additional 6,872 shares during the period. Intech Investment Management LLC owned about 0.06% of Masimo worth $5,414,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Woodline Partners LP boosted its holdings in Masimo by 159.8% during the first quarter. Woodline Partners LP now owns 132,969 shares of the medical equipment provider's stock worth $22,153,000 after buying an additional 81,784 shares in the last quarter. United Services Automobile Association acquired a new position in shares of Masimo during the 1st quarter worth $476,000. Goldman Sachs Group Inc. raised its stake in shares of Masimo by 38.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 280,255 shares of the medical equipment provider's stock worth $46,690,000 after buying an additional 78,003 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Masimo by 1,267.1% during the 1st quarter. Jones Financial Companies Lllp now owns 2,201 shares of the medical equipment provider's stock worth $367,000 after buying an additional 2,040 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Masimo during the 1st quarter worth $220,000. Hedge funds and other institutional investors own 85.96% of the company's stock.

Masimo Trading Down 1.2%

Shares of MASI stock traded down $1.72 during trading hours on Monday, hitting $145.72. 547,411 shares of the company were exchanged, compared to its average volume of 631,505. The firm has a market cap of $7.92 billion, a PE ratio of -17.10 and a beta of 1.23. Masimo Corporation has a 1 year low of $111.03 and a 1 year high of $194.88. 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 firm has a fifty day moving average of $152.26 and a 200 day moving average of $159.09.

Masimo (NASDAQ:MASI - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The medical equipment provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.11. The business had revenue of $370.90 million for the quarter, compared to analyst estimates of $368.65 million. Masimo had a negative net margin of 24.85% and a positive return on equity of 26.54%. The company's revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 EPS. Analysts expect that Masimo Corporation will post 4.1 earnings per share for the current year.

Insider Buying and Selling

In other Masimo news, Director William R. Jellison purchased 3,000 shares of the business's stock in a transaction that occurred on 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 owned 4,790 shares of the company's stock, valued at approximately $699,244.20. This represents a 167.60% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 9.70% of the company's stock.

Wall Street Analysts Forecast Growth

MASI has been the subject of several research reports. Wall Street Zen downgraded Masimo from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Piper Sandler lifted their price target on Masimo from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Zacks Research raised Masimo from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. Finally, BTIG Research reissued a "buy" rating and set a $198.00 price target on shares of Masimo in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Masimo presently has a consensus rating of "Buy" and an average target price of $194.60.

Masimo 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.