Gotham Asset Management LLC Increases Position in Masimo Corporation $MASI

Key Points

• Gotham Asset Management LLC increased its holdings in Masimo Corporation by 13.2% during the first quarter, now owning approximately 0.27% of the company, valued at $24 million.
• Masimo's shares opened at $143.01, with a market capitalization of $7.77 billion and a P/E ratio of -16.79.
• Analysts have upgraded Masimo's stock ratings, with Zacks raising it to a "strong-buy", and Piper Sandler increasing the target price from $200.00 to $210.00.

Gotham Asset Management LLC increased its position in Masimo Corporation (NASDAQ:MASI - Free Report) by 13.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 144,590 shares of the medical equipment provider's stock after purchasing an additional 16,810 shares during the quarter. Gotham Asset Management LLC owned approximately 0.27% of Masimo worth $24,089,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of MASI. Twin Tree Management LP bought a new stake in Masimo during the 1st quarter valued at $29,000. Farther Finance Advisors LLC boosted its position in shares of Masimo by 128.9% in the 1st quarter. Farther Finance Advisors LLC now owns 206 shares of the medical equipment provider's stock worth $35,000 after purchasing an additional 116 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Masimo in the 1st quarter worth $61,000. UMB Bank n.a. boosted its position in shares of Masimo by 134.0% in the 1st quarter. UMB Bank n.a. now owns 447 shares of the medical equipment provider's stock worth $74,000 after purchasing an additional 256 shares in the last quarter. Finally, Quarry LP boosted its position in shares of Masimo by 253.5% in the 1st quarter. Quarry LP now owns 449 shares of the medical equipment provider's stock worth $75,000 after purchasing an additional 322 shares in the last quarter. Institutional investors own 85.96% of the company's stock.

Masimo Stock Performance

Shares of NASDAQ MASI traded down $2.33 during trading on Wednesday, reaching $145.79. 85,521 shares of the company traded hands, compared to its average volume of 629,856. The firm's fifty day simple moving average is $153.60 and its 200 day simple moving average is $159.91. The stock has a market cap of $7.92 billion, a P/E ratio of -17.12 and a beta of 1.23. Masimo Corporation has a 12-month low of $111.03 and a 12-month high of $194.88. The company has a current ratio of 2.14, a quick ratio of 1.61 and a debt-to-equity ratio of 0.57.

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

Insider Buying and Selling at Masimo

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 stock was purchased at an average price of $145.98 per share, for a total transaction of $437,940.00. Following the purchase, the director directly owned 4,790 shares in the company, valued at approximately $699,244.20. This trade represents a 167.60% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MASI. BTIG Research reissued a "buy" rating on shares of Masimo in a research report on Thursday, August 14th. Wall Street Zen cut Masimo from a "buy" rating to a "hold" rating in a research report 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 report on Wednesday, August 6th. Finally, Zacks Research raised Masimo from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $193.60.

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.