Silver Oak Securities Incorporated Buys New Position in Masimo Corporation (NASDAQ:MASI)

Silver Oak Securities Incorporated acquired a new stake in Masimo Corporation (NASDAQ:MASI - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,638 shares of the medical equipment provider's stock, valued at approximately $268,000.

Several other large investors have also modified their holdings of the company. FMR LLC increased its stake in Masimo by 19.8% in the fourth 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 period. Capital Research Global Investors grew its stake in shares of 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 grew its stake in shares of 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. increased its holdings in shares of Masimo by 1,276.9% in the fourth 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 period. Finally, Corient Private Wealth LLC raised its stake in shares of Masimo by 8,847.1% during the fourth quarter. Corient Private Wealth LLC now owns 347,683 shares of the medical equipment provider's stock worth $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.

Insider Transactions at Masimo

In related news, COO Bilal Muhsin sold 10,000 shares of the company's stock in a transaction that occurred on 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 sale, the chief operating officer now owns 24,172 shares of the company's stock, valued at approximately $3,946,804.16. This represents a 29.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.70% of the company's stock.

Wall Street Analysts Forecast Growth

MASI has been the subject of several recent research reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Masimo in a report on Thursday, April 10th. Raymond James Financial lowered their price objective on Masimo from $204.00 to $185.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Piper Sandler reissued an "overweight" rating and set a $200.00 target price (down from $215.00) on shares of Masimo in a research note on Wednesday, May 7th. Wall Street Zen lowered Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, BTIG Research set a $193.00 price objective on Masimo and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $191.60.

Masimo Price Performance

Shares of MASI stock traded up $2.41 during midday trading on Friday, reaching $165.18. 630,756 shares of the company traded hands, compared to its average volume of 639,509. The firm's 50 day simple moving average is $159.10 and its two-hundred day simple moving average is $166.77. The firm has a market cap of $8.96 billion, a PE ratio of -18.01 and a beta of 1.19. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.17 and a quick ratio of 1.62. Masimo Corporation has a 1-year low of $101.61 and a 1-year high of $194.88.

Masimo (NASDAQ:MASI - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The medical equipment provider reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.12. The firm had revenue of $372.00 million during the quarter, compared to the consensus estimate of $367.79 million. Masimo had a positive return on equity of 22.56% and a negative net margin of 25.06%. Masimo's quarterly revenue was down 24.5% on a year-over-year basis. During the same period last year, the business posted $0.77 EPS. On average, equities research analysts expect that Masimo Corporation will post 4.1 EPS for the current fiscal 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.