Price T Rowe Associates Inc. MD Purchases 31,851 Shares of Masimo Corporation $MASI

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Masimo Corporation by 12.7%, acquiring an additional 31,851 shares, bringing its total ownership to $47.1 million.
• Several other institutional investors, including T. Rowe Price and Erste Asset Management, also boosted their holdings, with institutional investors owning 85.96% of Masimo's stock.
• Masimo reported $1.33 earnings per share for its latest quarter, exceeding analysts' expectations, alongside a 7.7% year-over-year revenue growth, amounting to $370.9 million.

Price T Rowe Associates Inc. MD raised its holdings in shares of Masimo Corporation (NASDAQ:MASI - Free Report) by 12.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 282,637 shares of the medical equipment provider's stock after acquiring an additional 31,851 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.52% of Masimo worth $47,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its position in shares of Masimo by 0.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,673,252 shares of the medical equipment provider's stock valued at $278,764,000 after purchasing an additional 10,876 shares in the last quarter. Erste Asset Management GmbH grew its position in shares of Masimo by 11.3% during the 1st quarter. Erste Asset Management GmbH now owns 92,000 shares of the medical equipment provider's stock valued at $15,327,000 after purchasing an additional 9,348 shares in the last quarter. EntryPoint Capital LLC purchased a new position in shares of Masimo during the 1st quarter valued at $894,000. Wellington Management Group LLP purchased a new position in shares of Masimo during the 1st quarter valued at $216,000. Finally, Versor Investments LP purchased a new position in shares of Masimo during the 1st quarter valued at $1,163,000. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Masimo Trading Down 1.4%

NASDAQ MASI traded down $1.97 during trading on Tuesday, hitting $137.74. 681,882 shares of the company's stock traded hands, compared to its average volume of 840,914. The stock has a fifty day moving average of $155.95 and a two-hundred day moving average of $161.05. 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 $107.98 and a 12-month high of $194.88. The firm has a market cap of $7.48 billion, a P/E ratio of -16.17 and a beta of 1.23.

Masimo (NASDAQ:MASI - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The medical equipment provider reported $1.33 earnings per share (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 business had revenue of $370.90 million during 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 company's revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts expect that Masimo Corporation will post 4.1 EPS for the current year.

Insider Transactions at Masimo

In other Masimo news, Director William R. Jellison purchased 3,000 shares of the business's stock in a transaction on Monday, August 11th. The stock was 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 in the company, valued at approximately $699,244.20. This represents a 167.60% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 16.90% of the stock is currently owned by insiders.

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.