Gotham Asset Management LLC Boosts Stock Holdings 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 lifted its position in shares of Masimo Corporation (NASDAQ:MASI - Free Report) by 13.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 144,590 shares of the medical equipment provider's stock after buying an additional 16,810 shares during the period. Gotham Asset Management LLC owned approximately 0.27% of Masimo worth $24,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Masimo Stock Performance

NASDAQ MASI traded down $0.67 during trading on Tuesday, reaching $148.12. The company's stock had a trading volume of 355,837 shares, compared to its average volume of 633,088. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.61 and a current ratio of 2.14. The firm has a market cap of $8.05 billion, a price-to-earnings ratio of -17.38 and a beta of 1.23. Masimo Corporation has a twelve month low of $110.78 and a twelve month high of $194.88. The business's fifty day moving average price is $154.02 and its 200-day moving average price is $159.99.

Masimo (NASDAQ:MASI - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The medical equipment provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.11. The firm had revenue of $370.90 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.86 EPS. As a group, analysts anticipate that Masimo Corporation will post 4.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MASI has been the subject of several research reports. BTIG Research reiterated a "buy" rating on shares of Masimo in a report on Thursday, August 14th. Piper Sandler lifted their target price on shares of Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Zacks Research upgraded shares of Masimo from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Finally, Wall Street Zen downgraded shares of Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $193.60.

Insider Activity

In other news, Director William R. Jellison acquired 3,000 shares of Masimo stock in a transaction that occurred on Monday, August 11th. The shares were acquired at an average price of $145.98 per share, with a total value of $437,940.00. Following the completion of the purchase, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.70% of the company's stock.

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.