TD Asset Management Inc Purchases 78,508 Shares of Masimo Corporation $MASI

Key Points

• TD Asset Management Inc increased its stake in Masimo Corporation by 88.5%, acquiring an additional 78,508 shares, bringing its total ownership to 167,176 shares valued at approximately $28.1 million.
• Insider trading activity was noted with Director William R. Jellison purchasing 3,000 shares, representing a 167.6% increase in his position.
• Masimo Corporation has received several upward adjustments in ratings and price targets from research firms, with current consensus an average target price of $194.60.

TD Asset Management Inc boosted its position in shares of Masimo Corporation (NASDAQ:MASI - Free Report) by 88.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 167,176 shares of the medical equipment provider's stock after purchasing an additional 78,508 shares during the quarter. TD Asset Management Inc owned about 0.31% of Masimo worth $28,122,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Twin Tree Management LP purchased a new position in shares of Masimo during the first quarter valued at $29,000. Farther Finance Advisors LLC grew its holdings in 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 acquiring an additional 116 shares in the last quarter. Hilltop National Bank bought a new position in Masimo during the 2nd quarter worth about $37,000. Anderson Financial Strategies LLC purchased a new position in Masimo during the 1st quarter valued at about $49,000. Finally, Quarry LP raised its holdings in shares of Masimo by 253.5% in the 1st quarter. Quarry LP now owns 449 shares of the medical equipment provider's stock valued at $75,000 after purchasing an additional 322 shares in the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Masimo

In related news, Director William R. Jellison purchased 3,000 shares of the business's stock in a transaction 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 purchase, the director owned 4,790 shares of the company's stock, valued at $699,244.20. This trade represents a 167.60% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.70% of the stock is owned by insiders.

Masimo Price Performance

Shares of MASI opened at $146.78 on Friday. The company has a 50 day moving average of $145.60 and a two-hundred day moving average of $154.67. 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 twelve month low of $133.70 and a twelve month high of $194.88. The company has a market cap of $7.97 billion, a price-to-earnings ratio of -17.23 and a beta of 1.28.

Masimo (NASDAQ:MASI - Get Free Report) last issued its quarterly earnings data on Thursday, June 20th. The medical equipment provider reported $1.42 EPS for the quarter. Masimo had a positive return on equity of 26.54% and a negative net margin of 24.85%.The firm had revenue of $617.00 million during the quarter. As a group, analysts predict that Masimo Corporation will post 4.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MASI. Zacks Research upgraded shares of Masimo from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. Piper Sandler increased their target price on Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. BTIG Research reissued a "buy" rating and issued a $198.00 price target on shares of Masimo in a research report on Thursday, September 11th. Wall Street Zen upgraded Masimo from a "hold" rating to a "buy" rating in a research note on Tuesday. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Masimo in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Masimo currently has a consensus rating of "Moderate Buy" and an average target price of $194.60.

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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