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Legato Capital Management LLC Acquires New Stake in Masimo Corporation (NASDAQ:MASI)

Masimo logo with Medical background

Legato Capital Management LLC bought a new stake in Masimo Corporation (NASDAQ:MASI - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,245 shares of the medical equipment provider's stock, valued at approximately $874,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MASI. Xponance Inc. boosted its stake in shares of Masimo by 1.1% during the first quarter. Xponance Inc. now owns 7,101 shares of the medical equipment provider's stock valued at $1,183,000 after purchasing an additional 76 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Masimo by 0.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,456 shares of the medical equipment provider's stock valued at $1,728,000 after acquiring an additional 83 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of Masimo by 2.1% in the fourth quarter. Orion Portfolio Solutions LLC now owns 4,778 shares of the medical equipment provider's stock valued at $790,000 after acquiring an additional 97 shares in the last quarter. State of Michigan Retirement System raised its holdings in shares of Masimo by 1.0% in the first quarter. State of Michigan Retirement System now owns 10,596 shares of the medical equipment provider's stock valued at $1,765,000 after acquiring an additional 100 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Masimo by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 12,400 shares of the medical equipment provider's stock valued at $2,066,000 after acquiring an additional 100 shares in the last quarter. 85.96% of the stock is owned by hedge funds and other institutional investors.

Masimo Stock Performance

NASDAQ MASI traded up $3.24 during trading hours on Friday, reaching $164.62. The stock had a trading volume of 561,631 shares, compared to its average volume of 524,556. The stock has a fifty day moving average of $162.41 and a 200 day moving average of $165.68. The stock has a market cap 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. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.62 and a current ratio of 2.17.

Masimo (NASDAQ:MASI - Get Free Report) last issued its earnings results on Tuesday, May 6th. The medical equipment provider reported $1.36 EPS for the quarter, beating analysts' consensus estimates of $1.24 by $0.12. The firm had revenue of $372.00 million for the quarter, compared to analyst estimates of $367.79 million. Masimo had a positive return on equity of 22.56% and a negative net margin of 25.06%. Masimo's revenue for the quarter was down 24.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 earnings per share. Sell-side analysts predict that Masimo Corporation will post 4.1 earnings per share for the current year.

Insider Buying and Selling

In other Masimo news, COO Bilal Muhsin sold 10,000 shares of the company's stock in a transaction that occurred 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 sale, the chief operating officer owned 24,172 shares in the company, valued at approximately $3,946,804.16. This represents a 29.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 9.70% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on MASI shares. Piper Sandler restated an "overweight" rating and issued a $200.00 price objective (down from $215.00) on shares of Masimo in a report on Wednesday, May 7th. Wells Fargo & Company decreased their price objective on Masimo from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Wall Street Zen downgraded shares of Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. BTIG Research reiterated a "buy" rating on shares of Masimo in a report on Monday, July 14th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Masimo in a report on Thursday, April 10th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $191.60.

View Our Latest Analysis on Masimo

About Masimo

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Masimo (NASDAQ:MASI)

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