Masimo Corporation $MASI Holdings Reduced by Logan Capital Management Inc.

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. lowered its stake in Masimo Corporation (NASDAQ:MASI - Free Report) by 11.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 42,395 shares of the medical equipment provider's stock after selling 5,392 shares during the period. Logan Capital Management Inc. owned 0.08% of Masimo worth $7,063,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MASI. Durable Capital Partners LP bought a new stake in shares of Masimo in the 1st quarter worth about $187,528,000. Massachusetts Financial Services Co. MA increased its position in shares of Masimo by 13.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,967,838 shares of the medical equipment provider's stock worth $327,842,000 after purchasing an additional 232,671 shares during the last quarter. Nuveen LLC bought a new stake in shares of Masimo in the 1st quarter worth about $25,830,000. Alyeska Investment Group L.P. increased its position in shares of Masimo by 24.9% in the 1st quarter. Alyeska Investment Group L.P. now owns 722,534 shares of the medical equipment provider's stock worth $120,374,000 after purchasing an additional 143,899 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Masimo by 26,284.3% in the 1st quarter. GAMMA Investing LLC now owns 122,951 shares of the medical equipment provider's stock worth $20,484,000 after purchasing an additional 122,485 shares during the last quarter. Institutional investors own 85.96% of the company's stock.

Insider Buying and Selling

In other news, Director William R. Jellison bought 3,000 shares of the firm's stock in a transaction 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 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 purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 9.70% of the company's stock.

Masimo Stock Performance

Shares of NASDAQ:MASI traded up $1.23 during trading on Friday, reaching $147.44. 699,217 shares of the company's stock traded hands, compared to its average volume of 587,317. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.14 and a quick ratio of 1.61. Masimo Corporation has a 12 month low of $111.03 and a 12 month high of $194.88. The company has a 50 day moving average of $152.26 and a 200-day moving average of $159.09. The stock has a market capitalization of $8.01 billion, a P/E ratio of -17.31 and a beta of 1.23.

Masimo (NASDAQ:MASI - Get Free Report) last announced 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. Masimo had a negative net margin of 24.85% and a positive return on equity of 26.54%. The business 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. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities analysts expect that Masimo Corporation will post 4.1 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.