Wealthquest Corp Takes $352,000 Position in Masimo Corporation (NASDAQ:MASI)

Key Points

• Wealthquest Corp acquired a new position in Masimo Corporation worth approximately $352,000 by purchasing 2,112 shares in the first quarter.
• Many institutional investors increased their stakes in Masimo, with FMR LLC raising its position by 19.8%, now owning over $1.33 billion worth of shares.
• Masimo reported a quarterly EPS of $1.36, surpassing estimates, but revenue declined by 24.5% year-over-year despite beating expectations.

Wealthquest Corp purchased a new stake in Masimo Corporation (NASDAQ:MASI - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,112 shares of the medical equipment provider's stock, valued at approximately $352,000.

Several other institutional investors have also added to or reduced their stakes in MASI. FMR LLC raised its position in Masimo by 19.8% during the fourth quarter. FMR LLC now owns 8,097,454 shares of the medical equipment provider's stock valued at $1,338,509,000 after purchasing an additional 1,340,836 shares in the last quarter. Capital Research Global Investors raised its position in Masimo by 80.5% during the fourth quarter. Capital Research Global Investors now owns 2,454,975 shares of the medical equipment provider's stock valued at $405,807,000 after purchasing an additional 1,094,647 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Masimo by 119.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,735,167 shares of the medical equipment provider's stock valued at $286,823,000 after purchasing an additional 943,001 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Masimo during the fourth quarter valued at approximately $33,716,000. Finally, Invesco Ltd. grew its stake in shares of Masimo by 226.4% during the fourth quarter. Invesco Ltd. now owns 277,960 shares of the medical equipment provider's stock worth $45,947,000 after buying an additional 192,802 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Masimo Stock Performance

Shares of Masimo stock opened at $153.79 on Friday. The company has a quick ratio of 1.62, a current ratio of 2.17 and a debt-to-equity ratio of 0.67. Masimo Corporation has a twelve month low of $101.61 and a twelve month high of $194.88. The stock has a market cap of $8.34 billion, a price-to-earnings ratio of -16.77 and a beta of 1.19. The company's fifty day moving average is $162.81 and its 200 day moving average is $165.43.

Masimo (NASDAQ:MASI - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The medical equipment provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.12. Masimo had a negative net margin of 25.06% and a positive return on equity of 22.56%. The company had revenue of $372.00 million for the quarter, compared to analysts' expectations of $367.79 million. During the same quarter in the previous year, the firm posted $0.77 earnings per share. Masimo's revenue for the quarter was down 24.5% on a year-over-year basis. Sell-side analysts forecast that Masimo Corporation will post 4.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MASI shares. Wells Fargo & Company decreased their target price on shares of Masimo from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Raymond James Financial decreased their target price on shares of Masimo from $204.00 to $185.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. BTIG Research reaffirmed a "buy" rating on shares of Masimo in a research note on Monday, July 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of Masimo in a research note on Thursday, April 10th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $200.00 target price (down previously from $215.00) on shares of Masimo in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $191.60.

Insider Buying and Selling at Masimo

In related news, COO Bilal Muhsin sold 10,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $163.28, for a total value of $1,632,800.00. Following the sale, the chief operating officer 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. 9.70% of the stock is currently owned by corporate 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.

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