Perpetual Ltd Acquires New Stake in Masimo Corporation (NASDAQ:MASI)

Perpetual Ltd acquired a new stake in Masimo Corporation (NASDAQ:MASI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 30,209 shares of the medical equipment provider's stock, valued at approximately $5,033,000. Perpetual Ltd owned about 0.06% of Masimo as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in MASI. FMR LLC raised its stake in Masimo by 19.8% in the 4th quarter. FMR LLC now owns 8,097,454 shares of the medical equipment provider's stock valued at $1,338,509,000 after purchasing an additional 1,340,836 shares during the last quarter. Capital Research Global Investors raised its stake in Masimo by 80.5% in the 4th quarter. Capital Research Global Investors now owns 2,454,975 shares of the medical equipment provider's stock valued at $405,807,000 after purchasing an additional 1,094,647 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Masimo by 119.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,735,167 shares of the medical equipment provider's stock valued at $286,823,000 after purchasing an additional 943,001 shares during the last quarter. Alliancebernstein L.P. raised its stake in Masimo by 1,276.9% in the 4th quarter. Alliancebernstein L.P. now owns 947,391 shares of the medical equipment provider's stock valued at $156,604,000 after purchasing an additional 878,587 shares during the last quarter. Finally, Corient Private Wealth LLC raised its stake in Masimo by 8,847.1% in the 4th quarter. Corient Private Wealth LLC now owns 347,683 shares of the medical equipment provider's stock valued at $57,472,000 after purchasing an additional 343,797 shares during the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.

Masimo Stock Performance

NASDAQ MASI opened at $168.21 on Friday. The stock has a market cap of $9.12 billion, a PE ratio of -18.34 and a beta of 1.19. The company has a current ratio of 2.17, a quick ratio of 1.62 and a debt-to-equity ratio of 0.67. Masimo Corporation has a twelve month low of $101.61 and a twelve month high of $194.88. The stock has a fifty day simple moving average of $160.40 and a 200-day simple moving average of $166.76.

Masimo (NASDAQ:MASI - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The medical equipment provider reported $1.36 earnings per share for the quarter, topping analysts' consensus estimates of $1.24 by $0.12. The business had revenue of $372.00 million during the quarter, compared to analysts' expectations of $367.79 million. Masimo had a positive return on equity of 22.56% and a negative net margin of 25.06%. The company's revenue was down 24.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.77 EPS. Equities analysts anticipate that Masimo Corporation will post 4.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MASI shares. Piper Sandler reissued an "overweight" rating and issued a $200.00 price objective (down from $215.00) on shares of Masimo in a research note on Wednesday, May 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Masimo in a research note on Thursday, April 10th. BTIG Research set a $193.00 target price on Masimo and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Raymond James Financial cut their target price on Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company cut their target price on Masimo from $205.00 to $190.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $191.60.

Insider Buying and Selling at Masimo

In other news, COO Bilal Muhsin sold 10,000 shares of Masimo stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $163.28, for a total value of $1,632,800.00. Following the completion of the transaction, the chief operating officer now owns 24,172 shares in the company, valued at approximately $3,946,804.16. This trade represents a 29.26% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.70% of the stock is currently owned by corporate insiders.

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.

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