Kestra Private Wealth Services LLC Makes New $482,000 Investment in Masimo Corporation (NASDAQ:MASI)

Key Points

• Kestra Private Wealth Services LLC has made a new investment in Masimo Corporation, purchasing 2,892 shares valued at approximately $482,000.
• Several hedge funds increased their holdings in Masimo during the fourth quarter, with FMR LLC and Capital Research Global Investors boosting their stakes significantly by 19.8% and 80.5%, respectively.
• Masimo Corporation reported earnings of $1.36 EPS for the last quarter, exceeding analyst expectations and showcasing a positive return on equity of 22.56%, despite a 24.5% decline in revenue year-over-year.

Kestra Private Wealth Services LLC purchased a new stake in Masimo Corporation (NASDAQ:MASI - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,892 shares of the medical equipment provider's stock, valued at approximately $482,000.

Other hedge funds have also recently modified their holdings of the company. FMR LLC boosted its stake in Masimo by 19.8% during the fourth quarter. FMR LLC now owns 8,097,454 shares of the medical equipment provider's stock worth $1,338,509,000 after buying an additional 1,340,836 shares during the period. Capital Research Global Investors lifted its holdings in Masimo by 80.5% during the 4th quarter. Capital Research Global Investors now owns 2,454,975 shares of the medical equipment provider's stock worth $405,807,000 after buying an additional 1,094,647 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Masimo by 119.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,735,167 shares of the medical equipment provider's stock worth $286,823,000 after buying an additional 943,001 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Masimo by 1,276.9% in the fourth quarter. Alliancebernstein L.P. now owns 947,391 shares of the medical equipment provider's stock valued at $156,604,000 after buying an additional 878,587 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Masimo in the 4th quarter valued at $33,716,000. Hedge funds and other institutional investors own 85.96% of the company's stock.

Masimo Trading Up 2.0%

NASDAQ MASI opened at $164.62 on Friday. The company has a quick ratio of 1.62, a current ratio of 2.17 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average price of $162.41 and a 200 day moving average price of $165.68. The stock has a market capitalization of $8.93 billion, a P/E ratio of -17.95 and a beta of 1.19. Masimo Corporation has a 52-week low of $101.61 and a 52-week high of $194.88.

Masimo (NASDAQ:MASI - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The medical equipment provider reported $1.36 EPS for the quarter, beating the consensus estimate of $1.24 by $0.12. The business had revenue of $372.00 million during the quarter, compared to analysts' expectations of $367.79 million. Masimo had a positive return on equity of 22.56% and a negative net margin of 25.06%. The company's quarterly revenue was down 24.5% compared to the same quarter last year. During the same period last year, the firm earned $0.77 EPS. Equities research analysts expect that Masimo Corporation will post 4.1 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on MASI shares. BTIG Research reaffirmed a "buy" rating on shares of Masimo in a research note on Monday, July 14th. Wall Street Zen cut Masimo from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Needham & Company LLC restated a "hold" rating on shares of Masimo in a research note on Thursday, April 10th. Wells Fargo & Company cut 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. Finally, Raymond James Financial cut their price target on Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Masimo presently has an average rating of "Moderate Buy" and an average target price of $191.60.

Insider Buying and Selling

In other Masimo news, COO Bilal Muhsin sold 10,000 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $163.28, for a total value of $1,632,800.00. Following the completion of the sale, the chief operating officer owned 24,172 shares of the company's stock, valued at approximately $3,946,804.16. This trade represents a 29.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.70% of the company's stock.

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.

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