United Services Automobile Association Makes New $476,000 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 acquired a new position in shares of Masimo Corporation (NASDAQ:MASI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,912 shares of the medical equipment provider's stock, valued at approximately $476,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Masimo by 0.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,371 shares of the medical equipment provider's stock worth $1,894,000 after purchasing an additional 66 shares in the last quarter. Xponance Inc. raised its holdings in Masimo by 1.1% during the first 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 holdings in Masimo by 1.5% during the first quarter. Deutsche Bank AG now owns 6,309 shares of the medical equipment provider's stock worth $1,051,000 after purchasing an additional 92 shares in the last quarter. State of Michigan Retirement System raised its holdings in Masimo by 1.0% during the first quarter. State of Michigan Retirement System now owns 10,596 shares of the medical equipment provider's stock worth $1,765,000 after purchasing an additional 100 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in Masimo by 0.8% during the first quarter. Louisiana State Employees Retirement System now owns 12,400 shares of the medical equipment provider's stock worth $2,066,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 85.96% of the company's stock.

Insiders Place Their Bets

In other news, Director William R. Jellison acquired 3,000 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were purchased at an average cost of $145.98 per share, for a total transaction of $437,940.00. Following the transaction, the director directly owned 4,790 shares in the company, valued at approximately $699,244.20. This represents a 167.60% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 9.70% of the stock is currently owned by company insiders.

Masimo Stock Performance

Shares of MASI opened at $145.82 on Thursday. The company has a current ratio of 2.14, a quick ratio of 1.61 and a debt-to-equity ratio of 0.57. The firm has a market cap of $7.92 billion, a PE ratio of -17.12 and a beta of 1.23. The company's 50 day simple moving average is $153.09 and its 200-day simple moving average is $159.81. Masimo Corporation has a 12-month low of $111.03 and a 12-month high of $194.88.

Masimo (NASDAQ:MASI - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The medical equipment provider reported $1.33 earnings per share for the quarter, beating 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 firm had revenue of $370.90 million for the quarter, compared to analyst estimates of $368.65 million. During the same period last year, the firm posted $0.86 EPS. Masimo's quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities analysts predict that Masimo Corporation will post 4.1 EPS for the current year.

Wall Street Analysts Forecast Growth

MASI has been the topic of a number of research analyst reports. Zacks Research raised shares of Masimo from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Wall Street Zen lowered shares of Masimo from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Piper Sandler raised their target price on shares of Masimo from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Finally, BTIG Research restated a "buy" rating on shares of Masimo in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $193.60.

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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