Raymond James Financial Inc. Raises Position in Masimo Corporation $MASI

Key Points

• Raymond James Financial Inc. increased its stake in Masimo Corporation by 1.1%, holding approximately 206,116 shares valued at $34.3 million after acquiring 2,145 additional shares during the first quarter.
• Insider activity shows that Director William R. Jellison purchased 3,000 shares at an average price of $145.98, which boosts his ownership by 167.6%.
• Despite recent analyst downgrades and price target reductions, Masimo maintains a consensus rating of "Moderate Buy" with a target price of $193.60 as five analysts rate it as a buy.

Raymond James Financial Inc. lifted its position in Masimo Corporation (NASDAQ:MASI - Free Report) by 1.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 206,116 shares of the medical equipment provider's stock after purchasing an additional 2,145 shares during the period. Raymond James Financial Inc. owned 0.38% of Masimo worth $34,339,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of MASI. Massachusetts Financial Services Co. MA lifted its holdings in Masimo by 13.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,967,838 shares of the medical equipment provider's stock worth $327,842,000 after buying an additional 232,671 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Masimo by 259.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 250,786 shares of the medical equipment provider's stock worth $41,456,000 after buying an additional 181,070 shares during the period. Nuveen LLC purchased a new stake in Masimo during the first quarter worth $25,830,000. GAMMA Investing LLC lifted its holdings in Masimo by 26,284.3% during the first quarter. GAMMA Investing LLC now owns 122,951 shares of the medical equipment provider's stock worth $20,484,000 after buying an additional 122,485 shares during the period. Finally, BLI Banque de Luxembourg Investments purchased a new stake in Masimo during the fourth quarter worth $17,067,000. Hedge funds and other institutional investors own 85.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MASI. Wells Fargo & Company reduced their price target on Masimo from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Piper Sandler increased their price objective on Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. BTIG Research reiterated a "buy" rating on shares of Masimo in a report on Thursday, August 14th. Wall Street Zen lowered Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Raymond James Financial decreased their price objective on Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $193.60.

Insider Activity at Masimo

In related 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, with a total value of $437,940.00. Following the purchase, the director owned 4,790 shares of the company's stock, valued at $699,244.20. This represents a 167.60% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.70% of the stock is owned by company insiders.

Masimo Stock Performance

MASI traded down $1.24 during midday trading on Friday, hitting $139.71. 459,927 shares of the company were exchanged, compared to its average volume of 889,821. The company's 50 day simple moving average is $157.17 and its 200 day simple moving average is $161.75. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of -16.40 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 1-year low of $107.98 and a 1-year high of $194.88.

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

Masimo Company 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.