T. Rowe Price Investment Management Inc. Purchases 10,876 Shares of Masimo Corporation $MASI

Key Points

• T. Rowe Price Investment Management Inc. has increased its holdings in Masimo Corporation by 0.7%, acquiring an additional 10,876 shares in the first quarter, bringing its total ownership to approximately 3.09% valued at $278.76 million.
• Insider activity noted that Director William R. Jellison purchased 3,000 shares at an average price of $145.98, marking a significant 167.60% increase in his ownership of the stock.
• Despite a mixed outlook from analysts, the company reported a 7.7% year-over-year revenue increase in its latest quarterly earnings, surpassing analysts' expectations for both earnings per share and total revenue.

T. Rowe Price Investment Management Inc. boosted its position in Masimo Corporation (NASDAQ:MASI - Free Report) by 0.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,673,252 shares of the medical equipment provider's stock after purchasing an additional 10,876 shares during the period. T. Rowe Price Investment Management Inc. owned about 3.09% of Masimo worth $278,764,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its position in Masimo by 13.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,967,838 shares of the medical equipment provider's stock worth $327,842,000 after purchasing an additional 232,671 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Masimo by 8.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 703,378 shares of the medical equipment provider's stock worth $117,172,000 after purchasing an additional 55,658 shares in the last quarter. Northern Trust Corp grew its position in shares of Masimo by 27.5% during the 4th quarter. Northern Trust Corp now owns 383,869 shares of the medical equipment provider's stock valued at $63,454,000 after acquiring an additional 82,828 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Masimo by 259.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 250,786 shares of the medical equipment provider's stock valued at $41,456,000 after acquiring an additional 181,070 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of Masimo by 8.0% during the 4th quarter. Ameriprise Financial Inc. now owns 215,946 shares of the medical equipment provider's stock valued at $35,696,000 after acquiring an additional 16,085 shares during the period. 85.96% of the stock is owned by institutional investors.

Masimo Price Performance

Shares of NASDAQ:MASI traded down $1.03 during trading on Tuesday, reaching $144.13. The company had a trading volume of 124,164 shares, compared to its average volume of 630,541. 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 12 month low of $107.98 and a 12 month high of $194.88. The company has a fifty day moving average of $158.85 and a two-hundred day moving average of $162.54. The stock has a market capitalization of $7.83 billion, a P/E ratio of -16.92 and a beta of 1.21.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $368.65 million. During the same quarter last year, the firm earned $0.86 EPS. The company's revenue was up 7.7% on a year-over-year basis. Equities research analysts forecast that Masimo Corporation will post 4.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MASI has been the subject of a number of research reports. BTIG Research reissued a "buy" rating on shares of Masimo in a research report on Thursday, August 14th. Wells Fargo & Company reduced 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. Wall Street Zen downgraded shares of Masimo from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Piper Sandler increased their target price 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. Finally, Raymond James Financial dropped their price target on shares of Masimo from $204.00 to $185.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Masimo presently has an average rating of "Moderate Buy" and an average target price of $193.60.

Insider Transactions at Masimo

In other news, Director William R. Jellison bought 3,000 shares of the firm's stock in a transaction on Monday, August 11th. The stock was acquired at an average cost of $145.98 per share, with a total value 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. This represents a 167.60% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 16.90% of the company's stock.

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.