United Services Automobile Association Makes New Investment in Masimo Corporation $MASI

Key Points

• United Services Automobile Association (USAA) has made a $476,000 investment in Masimo Corporation, acquiring 2,912 shares of the medical equipment provider.
• Several institutional investors have also increased their stakes in Masimo, with 85.96% of the company's stock now held by these entities.
• Masimo reported a quarterly earnings per share of $1.33, exceeding analysts' expectations, with a 7.7% year-over-year revenue growth to $370.90 million.

United Services Automobile Association bought a new stake in Masimo Corporation (NASDAQ:MASI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,912 shares of the medical equipment provider's stock, valued at approximately $476,000.

Several other hedge funds also recently added to or reduced their stakes in MASI. Durable Capital Partners LP purchased a new position in Masimo in the first quarter valued at approximately $187,528,000. 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 valued at $327,842,000 after buying an additional 232,671 shares during the last quarter. Nuveen LLC acquired a new stake in Masimo in the first quarter valued at $25,830,000. Alyeska Investment Group L.P. lifted its holdings in Masimo by 24.9% in the first quarter. Alyeska Investment Group L.P. now owns 722,534 shares of the medical equipment provider's stock valued at $120,374,000 after acquiring an additional 143,899 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Masimo by 26,284.3% during the 1st quarter. GAMMA Investing LLC now owns 122,951 shares of the medical equipment provider's stock worth $20,484,000 after buying an additional 122,485 shares during the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director William R. Jellison purchased 3,000 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were acquired at an average cost of $145.98 per share, with a total value of $437,940.00. Following the transaction, the director owned 4,790 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 16.90% of the company's stock.

Masimo Stock Down 1.0%

Shares of Masimo stock traded down $1.40 on Tuesday, hitting $144.32. 114,223 shares of the company's stock traded hands, compared to its average volume of 628,521. The stock has a market cap of $7.84 billion, a P/E ratio of -16.94 and a beta of 1.23. The company has a quick ratio of 1.61, a current ratio of 2.14 and a debt-to-equity ratio of 0.57. The firm's 50-day moving average is $151.92 and its 200 day moving average is $158.79. Masimo Corporation has a 52-week low of $111.03 and a 52-week high of $194.88.

Masimo (NASDAQ:MASI - Get Free Report) last released its earnings results on Tuesday, August 5th. The medical equipment provider reported $1.33 EPS for the quarter, beating the consensus estimate 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 positive return on equity of 26.54% and a negative net margin of 24.85%.The business's revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 EPS. Equities analysts anticipate that Masimo Corporation will post 4.1 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. BTIG Research reaffirmed a "buy" rating and set a $198.00 price target on shares of Masimo in a research note on Thursday, September 11th. Piper Sandler lifted their price target on Masimo from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Wall Street Zen downgraded shares of Masimo from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Zacks Research raised shares of Masimo from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target 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.