Masimo Corporation $MASI Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its holdings in Masimo Corporation by 76.4% in Q1, acquiring an additional 15,044 shares and holding a total of 34,747 shares worth approximately $5.79 million.
• A director at Masimo, William R. Jellison, purchased 3,000 shares of stock, leading to a 167.6% increase in his ownership.
• Five analysts rate Masimo stock as a Buy, with a consensus rating of "Moderate Buy" and an average price target of $193.60.

Russell Investments Group Ltd. grew its holdings in Masimo Corporation (NASDAQ:MASI - Free Report) by 76.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,747 shares of the medical equipment provider's stock after acquiring an additional 15,044 shares during the period. Russell Investments Group Ltd. owned about 0.06% of Masimo worth $5,789,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of MASI. LPL Financial LLC lifted its position in shares of Masimo by 22.9% during the 4th quarter. LPL Financial LLC now owns 4,310 shares of the medical equipment provider's stock worth $712,000 after purchasing an additional 803 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Masimo by 17.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 31,107 shares of the medical equipment provider's stock valued at $5,142,000 after buying an additional 4,579 shares during the last quarter. Barclays PLC raised its holdings in shares of Masimo by 33.2% in the fourth quarter. Barclays PLC now owns 53,219 shares of the medical equipment provider's stock valued at $8,796,000 after buying an additional 13,262 shares during the last quarter. Mariner LLC raised its holdings in shares of Masimo by 10.2% in the fourth quarter. Mariner LLC now owns 3,459 shares of the medical equipment provider's stock valued at $572,000 after buying an additional 321 shares during the last quarter. Finally, Guggenheim Capital LLC raised its holdings in shares of Masimo by 61.5% in the fourth quarter. Guggenheim Capital LLC now owns 7,021 shares of the medical equipment provider's stock valued at $1,161,000 after buying an additional 2,674 shares during the last quarter. 85.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MASI has been the subject of a number of research reports. BTIG Research reaffirmed a "buy" rating on shares of Masimo in a report on Thursday, August 14th. Raymond James Financial dropped their price target on shares of Masimo from $204.00 to $185.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Wall Street Zen lowered shares of Masimo from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Piper Sandler boosted their price target on shares of Masimo from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Finally, Wells Fargo & Company dropped their price target on shares of Masimo from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $193.60.

Insiders Place Their Bets

In other Masimo news, Director William R. Jellison purchased 3,000 shares of the stock in a transaction dated Monday, August 11th. The shares were acquired at an average cost of $145.98 per share, for a total transaction of $437,940.00. Following the completion of the transaction, the director directly owned 4,790 shares of the company's stock, valued at $699,244.20. This trade represents a 167.60% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 16.90% of the company's stock.

Masimo Price Performance

MASI traded down $1.90 on Tuesday, hitting $143.25. 575,690 shares of the company were exchanged, compared to its average volume of 887,899. 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 business's fifty day moving average is $158.52 and its 200 day moving average is $162.41. Masimo Corporation has a fifty-two week low of $107.98 and a fifty-two week high of $194.88. The firm has a market capitalization of $7.78 billion, a P/E ratio of -16.81 and a beta of 1.21.

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

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.