Logan Capital Management Inc. Decreases Holdings in Masimo Corporation $MASI

Key Points

• Logan Capital Management Inc. reduced its stake in Masimo Corporation by 11.3%, selling 5,392 shares and now holding approximately 0.08% of the company valued at $7,063,000.
• Masimo Corporation reported $1.33 earnings per share for the last quarter, exceeding analysts' expectations of $1.22, and showed a year-over-year revenue growth of 7.7%.
• Institutional investors own 85.96% of Masimo's stock, indicating strong institutional confidence in the company.

Logan Capital Management Inc. cut its holdings in shares of Masimo Corporation (NASDAQ:MASI - Free Report) by 11.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,395 shares of the medical equipment provider's stock after selling 5,392 shares during the quarter. Logan Capital Management Inc. owned 0.08% of Masimo worth $7,063,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MASI. United Services Automobile Association purchased a new stake in shares of Masimo during the first quarter worth approximately $476,000. Goldman Sachs Group Inc. grew its holdings in shares of Masimo by 38.6% during the first quarter. Goldman Sachs Group Inc. now owns 280,255 shares of the medical equipment provider's stock worth $46,690,000 after buying an additional 78,003 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Masimo by 1,267.1% during the first quarter. Jones Financial Companies Lllp now owns 2,201 shares of the medical equipment provider's stock worth $367,000 after buying an additional 2,040 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Masimo in the first quarter valued at about $220,000. Finally, PharVision Advisers LLC purchased a new position in shares of Masimo in the first quarter worth about $235,000. Institutional investors and hedge funds own 85.96% of the company's stock.

Insider Activity at Masimo

In other Masimo news, Director William R. Jellison purchased 3,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were purchased at an average cost of $145.98 per share, for a total transaction of $437,940.00. Following the completion of the purchase, the director directly owned 4,790 shares in the company, valued at $699,244.20. This represents a 167.60% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.70% of the stock is owned by corporate insiders.

Masimo Stock Up 0.8%

Masimo stock traded up $1.23 during mid-day trading on Friday, hitting $147.44. The company had a trading volume of 699,217 shares, compared to its average volume of 631,989. The company has a quick ratio of 1.61, a current ratio of 2.14 and a debt-to-equity ratio of 0.57. Masimo Corporation has a 1 year low of $111.03 and a 1 year high of $194.88. The business has a fifty day moving average of $152.66 and a 200 day moving average of $159.64. The stock has a market cap of $8.01 billion, a price-to-earnings ratio of -17.31 and a beta of 1.23.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wall Street Zen cut Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Zacks Research upgraded Masimo from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. BTIG Research restated a "buy" rating and set a $198.00 target price on shares of Masimo in a report on Thursday. Finally, Piper Sandler lifted their price target on shares of Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $194.60.

About Masimo

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.