Vident Advisory LLC Takes Position in Masimo Corporation $MASI

Key Points

• Vident Advisory LLC has made a new investment in Masimo Corporation, purchasing 2,798 shares valued at approximately $466,000.
• Masimo reported quarterly earnings of $1.33 EPS, exceeding estimates and showing a 7.7% increase in revenue year-over-year.
• Recent analyst ratings for Masimo include upgrades from several firms, with a consensus price target of $193.60 and a majority rating as a "Buy."

Vident Advisory LLC acquired a new position in shares of Masimo Corporation (NASDAQ:MASI - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,798 shares of the medical equipment provider's stock, valued at approximately $466,000.

A number of other large investors also recently added to or reduced their stakes in MASI. Farther Finance Advisors LLC raised its position in Masimo by 128.9% during the first 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 during the period. NBC Securities Inc. acquired a new position in Masimo during the first quarter worth $61,000. UMB Bank n.a. raised its position in Masimo by 134.0% during the first quarter. UMB Bank n.a. now owns 447 shares of the medical equipment provider's stock worth $74,000 after acquiring an additional 256 shares during the period. GAMMA Investing LLC raised its position in shares of Masimo by 58.4% in the first quarter. GAMMA Investing LLC now owns 738 shares of the medical equipment provider's stock valued at $123,000 after buying an additional 272 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new stake in shares of Masimo in the first quarter valued at about $206,000. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Masimo Trading Up 0.8%

Shares of MASI traded up $1.23 during mid-day trading on Friday, reaching $147.44. The stock had a trading volume of 699,217 shares, compared to its average volume of 574,415. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.14 and a quick ratio of 1.61. The firm has a market cap of $8.01 billion, a price-to-earnings ratio of -17.31 and a beta of 1.23. The business's fifty day moving average is $152.26 and its 200 day moving average is $159.49. 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 announced its earnings results on Tuesday, August 5th. The medical equipment provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.11. The company had revenue of $370.90 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.86 earnings per share. On average, sell-side analysts predict that Masimo Corporation will post 4.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MASI shares. BTIG Research reiterated a "buy" rating and issued a $198.00 target price on shares of Masimo in a research report on Thursday. Wall Street Zen cut shares of Masimo from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Zacks Research upgraded shares of Masimo from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. Finally, Piper Sandler increased their target price on shares of Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $194.60.

Insiders Place Their Bets

In related news, Director William R. Jellison bought 3,000 shares of the stock in a transaction on Monday, August 11th. The stock was bought at an average price of $145.98 per share, with a total value of $437,940.00. Following the completion of the purchase, the director directly owned 4,790 shares in the company, valued at $699,244.20. This represents a 167.60% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 9.70% of the stock is currently owned by company insiders.

About Masimo

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.