Woodline Partners LP Grows Stock Holdings in Masimo Co. (NASDAQ:MASI)

Woodline Partners LP grew its holdings in shares of Masimo Co. (NASDAQ:MASI - Free Report) by 450.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,185 shares of the medical equipment provider's stock after purchasing an additional 41,885 shares during the period. Woodline Partners LP owned approximately 0.10% of Masimo worth $8,461,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MASI. FMR LLC lifted its holdings in shares of Masimo by 19.8% during the 4th quarter. FMR LLC now owns 8,097,454 shares of the medical equipment provider's stock valued at $1,338,509,000 after purchasing an additional 1,340,836 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of 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 valued at $405,807,000 after purchasing an additional 1,094,647 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Masimo by 119.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,735,167 shares of the medical equipment provider's stock valued at $286,823,000 after acquiring an additional 943,001 shares during the period. Alliancebernstein L.P. increased its position in shares of Masimo by 1,276.9% in the 4th quarter. Alliancebernstein L.P. now owns 947,391 shares of the medical equipment provider's stock valued at $156,604,000 after acquiring an additional 878,587 shares during the period. Finally, Corient Private Wealth LLC increased its position in shares of Masimo by 8,847.1% in the 4th quarter. Corient Private Wealth LLC now owns 347,683 shares of the medical equipment provider's stock valued at $57,472,000 after acquiring an additional 343,797 shares during the period. Hedge funds and other institutional investors own 85.96% of the company's stock.

Analyst Upgrades and Downgrades

MASI has been the topic of several research reports. BTIG Research set a $193.00 target price on Masimo and gave the company a "buy" rating in a research report on Wednesday, May 7th. Piper Sandler reissued an "overweight" rating and issued a $200.00 target price (down from $215.00) on shares of Masimo in a research report on Wednesday, May 7th. Wells Fargo & Company cut their target price on Masimo from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Needham & Company LLC reissued a "hold" rating on shares of Masimo in a research report on Thursday, April 10th. Finally, Raymond James cut their target price on Masimo from $204.00 to $185.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $191.60.

Insider Activity

In related news, COO Bilal Muhsin sold 10,000 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $163.28, for a total value of $1,632,800.00. Following the transaction, the chief operating officer now directly owns 24,172 shares of the company's stock, valued at approximately $3,946,804.16. This trade represents a 29.26% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Craig B. Reynolds sold 2,053 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $166.13, for a total transaction of $341,064.89. Following the completion of the transaction, the director now directly owns 16,581 shares in the company, valued at $2,754,601.53. This represents a 11.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,053 shares of company stock worth $6,998,565 in the last ninety days. Company insiders own 9.70% of the company's stock.

Masimo Stock Performance

MASI traded down $0.76 during midday trading on Wednesday, hitting $156.49. 105,544 shares of the company were exchanged, compared to its average volume of 649,580. The company's 50 day simple moving average is $157.73 and its 200 day simple moving average is $167.26. The firm has a market capitalization of $8.48 billion, a price-to-earnings ratio of 107.92 and a beta of 1.23. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. Masimo Co. has a 1-year low of $101.61 and a 1-year high of $194.88.

Masimo (NASDAQ:MASI - Get Free Report) last posted 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. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The firm had revenue of $372.00 million for the quarter, compared to analysts' expectations of $367.79 million. During the same period last year, the firm earned $0.77 EPS. The company's quarterly revenue was down 24.5% on a year-over-year basis. As a group, sell-side analysts predict that Masimo Co. will post 4.1 earnings per share for the current year.

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.