Vestcor Inc Buys New Shares in Masimo Corporation (NASDAQ:MASI)

Key Points

• Vestcor Inc has acquired 3,825 shares of Masimo Corporation, valued at approximately $637,000, marking a new investment position in the medical equipment provider.
• Masimo reported $1.36 earnings per share (EPS) for the last quarter, exceeding analysts' expectations, although its revenue showed a 24.5% decline year-over-year.
• Analysts have downgraded Masimo from a "buy" to a "hold" rating, impacting its stock price target, which has been revised down by Wells Fargo from $205 to $190.

Vestcor Inc purchased 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 SEC. The institutional investor purchased 3,825 shares of the medical equipment provider's stock, valued at approximately $637,000.

Several other large investors have also modified their holdings of MASI. Farther Finance Advisors LLC raised its holdings in shares of Masimo by 128.9% in the 1st quarter. Farther Finance Advisors LLC now owns 206 shares of the medical equipment provider's stock valued at $35,000 after buying an additional 116 shares during the period. NBC Securities Inc. purchased a new stake in Masimo during the 1st quarter worth about $61,000. UMB Bank n.a. increased its holdings in Masimo by 134.0% during the 1st quarter. UMB Bank n.a. now owns 447 shares of the medical equipment provider's stock worth $74,000 after purchasing an additional 256 shares during the period. GAMMA Investing LLC increased its holdings in shares of Masimo by 58.4% in the 1st quarter. GAMMA Investing LLC now owns 738 shares of the medical equipment provider's stock valued at $123,000 after acquiring an additional 272 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Masimo in the 4th quarter valued at about $163,000. Institutional investors and hedge funds own 85.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MASI. BTIG Research reaffirmed a "buy" rating on shares of Masimo in a report on Monday, July 14th. Piper Sandler raised their price target on Masimo from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Wednesday. Raymond James Financial decreased their price objective on Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Masimo in a research report on Thursday, April 10th. Finally, Wall Street Zen cut Masimo from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $193.60.

Insider Buying and Selling at Masimo

In other news, COO Bilal Muhsin sold 10,000 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $163.28, for a total value of $1,632,800.00. Following the completion of the transaction, the chief operating officer directly owned 24,172 shares of the company's stock, valued at $3,946,804.16. The trade was a 29.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.70% of the stock is currently owned by company insiders.

Masimo Price Performance

Shares of MASI traded up $1.34 during mid-day trading on Thursday, hitting $145.99. The company's stock had a trading volume of 540,009 shares, compared to its average volume of 624,773. The company has a current ratio of 2.17, a quick ratio of 1.62 and a debt-to-equity ratio of 0.67. The firm has a 50-day simple moving average of $163.04 and a 200 day simple moving average of $165.04. The firm has a market capitalization of $7.92 billion, a P/E ratio of -17.17 and a beta of 1.21. Masimo Corporation has a 1-year low of $107.98 and a 1-year high of $194.88.

Masimo (NASDAQ:MASI - Get Free Report) last posted its earnings results on Tuesday, August 5th. The medical equipment provider reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.22 by $0.11. The company had revenue of $370.90 million for the quarter, compared to the consensus estimate of $368.65 million. Masimo had a positive return on equity of 25.91% and a negative net margin of 24.85%. Masimo's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 earnings per share. Analysts predict that Masimo Corporation will post 4.1 EPS for the current fiscal year.

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.