Masimo Corporation $MASI Shares Purchased 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. lifted its holdings in Masimo Corporation (NASDAQ:MASI - Free Report) by 76.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,747 shares of the medical equipment provider's stock after purchasing an additional 15,044 shares during the period. Russell Investments Group Ltd. owned approximately 0.06% of Masimo worth $5,789,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MASI. LPL Financial LLC grew its holdings in shares of Masimo by 22.9% in the fourth quarter. LPL Financial LLC now owns 4,310 shares of the medical equipment provider's stock valued at $712,000 after purchasing an additional 803 shares in the last quarter. Envestnet Asset Management Inc. grew 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 purchasing an additional 4,579 shares in the last quarter. Barclays PLC grew 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 purchasing an additional 13,262 shares in the last quarter. Mariner LLC grew 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 purchasing an additional 321 shares in the last quarter. Finally, Guggenheim Capital LLC grew 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 purchasing an additional 2,674 shares in the last quarter. Institutional investors and hedge funds own 85.96% of the company's stock.

Insider Buying and Selling

In other Masimo news, Director William R. Jellison purchased 3,000 shares of Masimo 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 transaction, the director directly owned 4,790 shares in the company, valued at $699,244.20. This trade represents a 167.60% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 9.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MASI has been the subject of a number of research reports. BTIG Research restated a "buy" rating on shares of Masimo in a report on Thursday, August 14th. Wells Fargo & Company lowered their price target on shares of Masimo from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. 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 report on Wednesday, August 6th. Raymond James Financial lowered their price target on shares of Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Finally, Wall Street Zen cut shares of Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Masimo has a consensus rating of "Moderate Buy" and an average target price of $193.60.

Masimo Stock Down 0.8%

Shares of NASDAQ:MASI opened at $145.65 on Thursday. The company has a market capitalization of $7.91 billion, a PE ratio of -17.10 and a beta of 1.21. 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 Corporation has a twelve month low of $107.98 and a twelve month high of $194.88. The firm has a 50 day simple moving average of $159.87 and a 200-day simple moving average of $163.36.

Masimo (NASDAQ:MASI - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The medical equipment provider reported $1.33 EPS for the quarter, beating 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 firm had revenue of $370.90 million during the quarter, compared to the consensus estimate of $368.65 million. During the same quarter in the prior year, the firm earned $0.86 EPS. Masimo's revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities analysts predict that Masimo Corporation will post 4.1 EPS for the current fiscal 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.

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