Woodline Partners LP Raises Stock Position in Masimo Corporation $MASI

Key Points

• Woodline Partners LP increased its stake in Masimo Corporation by 159.8% to a total of 132,969 shares, valued at over $22 million.
• Insider transactions include Director William R. Jellison purchasing 3,000 shares at an average price of $145.98, marking a 167.60% increase in his position.
• Masimo has received positive feedback from analysts, with Zacks Research upgrading the stock to a "strong-buy" rating and Piper Sandler raising the target price to $210.

Woodline Partners LP grew its holdings in Masimo Corporation (NASDAQ:MASI - Free Report) by 159.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,969 shares of the medical equipment provider's stock after acquiring an additional 81,784 shares during the period. Woodline Partners LP owned about 0.25% of Masimo worth $22,153,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of MASI. Durable Capital Partners LP acquired a new position in shares of Masimo in the first quarter worth $187,528,000. Massachusetts Financial Services Co. MA grew its stake in shares of Masimo by 13.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,967,838 shares of the medical equipment provider's stock worth $327,842,000 after purchasing an additional 232,671 shares in the last quarter. Nuveen LLC acquired a new position in shares of Masimo during the first quarter worth $25,830,000. Alyeska Investment Group L.P. grew its stake in shares of Masimo by 24.9% during the first quarter. Alyeska Investment Group L.P. now owns 722,534 shares of the medical equipment provider's stock worth $120,374,000 after purchasing an additional 143,899 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Masimo by 26,284.3% during the first quarter. GAMMA Investing LLC now owns 122,951 shares of the medical equipment provider's stock worth $20,484,000 after purchasing an additional 122,485 shares in the last quarter. Institutional investors and hedge funds own 85.96% of the company's stock.

Insiders Place Their Bets

In related news, Director William R. Jellison purchased 3,000 shares of the business's stock in a transaction on Monday, August 11th. The shares were 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 approximately $699,244.20. This trade represents a 167.60% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 16.90% of the stock is currently owned by corporate insiders.

Masimo Trading Down 1.0%

NASDAQ:MASI traded down $1.40 during trading hours on Tuesday, reaching $144.32. 114,223 shares of the company were exchanged, compared to its average volume of 628,521. 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 $7.84 billion, a price-to-earnings ratio of -16.94 and a beta of 1.23. Masimo Corporation has a 52-week low of $111.03 and a 52-week high of $194.88. The stock has a 50 day simple moving average of $151.92 and a 200 day simple moving average of $158.79.

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

Analysts Set New Price Targets

MASI has been the subject of a number of research reports. Piper Sandler boosted their price target 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. 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 cut shares of Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, BTIG Research reaffirmed a "buy" rating and issued a $198.00 target price on shares of Masimo in a report on Thursday, September 11th. One 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, Masimo currently has a consensus rating of "Buy" and an average 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.