Redmile Group LLC Acquires New Shares in Masimo Corporation $MASI

Key Points

• Redmile Group LLC invested approximately $4.34 million to acquire 26,062 shares in Masimo Corporation during the first quarter.
• Hedge funds and institutional investors collectively own 85.96% of Masimo's stock, indicating significant interest from major financial players.
• Masimo recently reported a quarterly earnings per share of $1.33, surpassing the consensus estimate, with a revenue increase of 7.7% compared to the previous year.

Redmile Group LLC acquired a new position in shares of Masimo Corporation (NASDAQ:MASI - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 26,062 shares of the medical equipment provider's stock, valued at approximately $4,342,000.

Other institutional investors have also recently bought and sold shares of the company. Twin Tree Management LP acquired a new stake in Masimo during the 1st quarter worth about $29,000. Farther Finance Advisors LLC raised its stake in shares of Masimo by 128.9% during the 1st quarter. Farther Finance Advisors LLC now owns 206 shares of the medical equipment provider's stock worth $35,000 after purchasing an additional 116 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Masimo during the 1st quarter worth about $61,000. UMB Bank n.a. raised its stake in shares of Masimo by 134.0% during the 1st quarter. UMB Bank n.a. now owns 447 shares of the medical equipment provider's stock worth $74,000 after purchasing an additional 256 shares in the last quarter. Finally, Quarry LP raised its stake in shares of Masimo by 253.5% during the 1st quarter. Quarry LP now owns 449 shares of the medical equipment provider's stock worth $75,000 after purchasing an additional 322 shares in the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MASI has been the topic of a number of recent analyst reports. BTIG Research reissued a "buy" rating on shares of Masimo in a research note on Thursday, August 14th. Piper Sandler raised their price objective on Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Zacks Research raised Masimo from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. Finally, Wall Street Zen downgraded Masimo from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $193.60.

Masimo Price Performance

MASI traded up $4.18 during trading on Friday, hitting $147.19. The company's stock had a trading volume of 693,981 shares, compared to its average volume of 649,554. The firm's 50 day moving average price is $154.41 and its two-hundred day moving average price is $160.39. The company has a quick ratio of 1.61, a current ratio of 2.14 and a debt-to-equity ratio of 0.57. Masimo Corporation has a 12 month low of $107.98 and a 12 month high of $194.88. The stock has a market capitalization of $8.00 billion, a price-to-earnings ratio of -17.28 and a beta of 1.23.

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

Insider Buying and Selling at Masimo

In related news, Director William R. Jellison bought 3,000 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were acquired at an average price of $145.98 per share, for a total transaction of $437,940.00. Following the completion of the acquisition, the director owned 4,790 shares of the company's stock, valued at approximately $699,244.20. The trade was a 167.60% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.70% of the stock is owned by corporate 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.