Raymond James Financial Inc. Raises Stock Holdings 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. grew its stake in Masimo Corporation (NASDAQ:MASI - Free Report) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 206,116 shares of the medical equipment provider's stock after acquiring an additional 2,145 shares during the quarter. Raymond James Financial Inc. owned about 0.38% of Masimo worth $34,339,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MASI. Farther Finance Advisors LLC lifted its position in shares of Masimo by 128.9% in the first quarter. Farther Finance Advisors LLC now owns 206 shares of the medical equipment provider's stock valued at $35,000 after acquiring an additional 116 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Masimo in the first quarter valued at $61,000. UMB Bank n.a. grew its position in shares of Masimo by 134.0% in the first quarter. UMB Bank n.a. now owns 447 shares of the medical equipment provider's stock valued at $74,000 after purchasing an additional 256 shares during the period. GAMMA Investing LLC grew its position in shares of Masimo by 58.4% in the first quarter. GAMMA Investing LLC now owns 738 shares of the medical equipment provider's stock valued at $123,000 after purchasing an additional 272 shares during the period. Finally, Ballentine Partners LLC purchased a new stake in shares of Masimo in the first quarter valued at $206,000. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at Masimo

In related news, Director William R. Jellison acquired 3,000 shares of Masimo stock in a transaction on Monday, August 11th. The shares were bought at an average price 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 trade represents a 167.60% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.70% of the stock is currently owned by corporate insiders.

Masimo Price Performance

MASI stock opened at $148.63 on Friday. The stock has a 50-day moving average price of $159.19 and a two-hundred day moving average price of $162.88. Masimo Corporation has a 12-month low of $107.98 and a 12-month high of $194.88. The company has a current ratio of 2.14, a quick ratio of 1.61 and a debt-to-equity ratio of 0.57. The company has a market cap of $8.07 billion, a PE ratio of -17.44 and a beta of 1.21.

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 analysts' consensus estimates 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 firm had revenue of $370.90 million during the quarter, compared to the consensus estimate of $368.65 million. During the same quarter in the previous year, the business earned $0.86 earnings per share. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. As a group, research analysts predict that Masimo Corporation will post 4.1 EPS for the current year.

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.

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