T. Rowe Price Investment Management Inc. Buys 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. lifted its holdings in Masimo Corporation (NASDAQ:MASI - Free Report) by 0.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,673,252 shares of the medical equipment provider's stock after buying an additional 10,876 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 3.09% of Masimo worth $278,764,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MASI. Xponance Inc. grew its holdings in shares of Masimo by 1.1% during the 1st quarter. Xponance Inc. now owns 7,101 shares of the medical equipment provider's stock worth $1,183,000 after purchasing an additional 76 shares in the last quarter. Deutsche Bank AG raised its position in Masimo by 1.5% in the first quarter. Deutsche Bank AG now owns 6,309 shares of the medical equipment provider's stock valued at $1,051,000 after purchasing an additional 92 shares during the last quarter. State of Michigan Retirement System raised its position in Masimo by 1.0% in the first quarter. State of Michigan Retirement System now owns 10,596 shares of the medical equipment provider's stock valued at $1,765,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Masimo by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 12,400 shares of the medical equipment provider's stock valued at $2,066,000 after purchasing an additional 100 shares during the last quarter. Finally, Securian Asset Management Inc. raised its position in shares of Masimo by 3.0% during the first quarter. Securian Asset Management Inc. now owns 3,433 shares of the medical equipment provider's stock worth $572,000 after acquiring an additional 100 shares during the last quarter. 85.96% of the stock is owned by institutional investors.

Insider Activity

In other news, Director William R. Jellison purchased 3,000 shares of the stock in a transaction on Monday, August 11th. The shares were acquired at an average price of $145.98 per share, with a total value of $437,940.00. Following the completion of the acquisition, the director directly owned 4,790 shares of the company's stock, valued at $699,244.20. This trade represents a 167.60% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 9.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Raymond James Financial lowered their target price on Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Wall Street Zen cut shares of Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Wells Fargo & Company cut their price target on shares of Masimo from $205.00 to $190.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Piper Sandler boosted their price target on shares of Masimo from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Finally, BTIG Research reaffirmed a "buy" rating on shares of Masimo in a research report on Thursday, August 14th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $193.60.

Masimo Stock Down 0.8%

Shares of NASDAQ MASI opened at $145.65 on Thursday. Masimo Corporation has a 12 month low of $107.98 and a 12 month high of $194.88. The firm has a market capitalization of $7.91 billion, a PE ratio of -17.10 and a beta of 1.21. The firm has a fifty day simple moving average of $159.87 and a two-hundred day simple moving average of $163.36. 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 (NASDAQ:MASI - Get Free Report) last issued 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. The company had revenue of $370.90 million during the quarter, compared to analysts' expectations of $368.65 million. Masimo had a negative net margin of 24.85% and a positive return on equity of 26.54%. Masimo's revenue was up 7.7% on a year-over-year basis. During the same period last year, the company posted $0.86 EPS. Equities analysts expect 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.

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