Freestone Grove Partners LP Invests $357,000 in Masimo Co. (NASDAQ:MASI)

Freestone Grove Partners LP acquired a new position in shares of Masimo Co. (NASDAQ:MASI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,162 shares of the medical equipment provider's stock, valued at approximately $357,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC raised its position in shares of Masimo by 152.6% in the third quarter. Barclays PLC now owns 39,957 shares of the medical equipment provider's stock valued at $5,329,000 after buying an additional 24,137 shares in the last quarter. Tidal Investments LLC bought a new stake in shares of Masimo during the 3rd quarter valued at $319,000. GAMMA Investing LLC grew its holdings in shares of Masimo by 136.5% during the 4th quarter. GAMMA Investing LLC now owns 466 shares of the medical equipment provider's stock worth $77,000 after purchasing an additional 269 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Masimo by 0.7% in the fourth quarter. Nordea Investment Management AB now owns 19,182 shares of the medical equipment provider's stock worth $3,206,000 after purchasing an additional 142 shares during the period. Finally, Fifth Third Wealth Advisors LLC acquired a new position in Masimo in the fourth quarter valued at about $241,000. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MASI. BTIG Research set a $193.00 price objective on Masimo and gave the stock a "buy" rating in a research report on Wednesday. Wells Fargo & Company reduced their price target on shares of Masimo from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Wednesday. Piper Sandler reissued an "overweight" rating and issued a $200.00 price objective (down previously from $215.00) on shares of Masimo in a research note on Wednesday. Needham & Company LLC reaffirmed a "hold" rating on shares of Masimo in a research note on Thursday, April 10th. Finally, Raymond James lowered their price target on shares of Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a report on Wednesday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $191.60.

Insider Activity

In related news, Director Craig B. Reynolds sold 2,053 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $166.13, for a total value of $341,064.89. Following the completion of the sale, the director now directly owns 16,581 shares in the company, valued at $2,754,601.53. This trade represents a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Bilal Muhsin sold 30,000 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $167.49, for a total transaction of $5,024,700.00. Following the completion of the sale, the chief operating officer now directly owns 24,172 shares of the company's stock, valued at approximately $4,048,568.28. This trade represents a 55.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.70% of the company's stock.

Masimo Price Performance

Shares of MASI traded up $3.66 during midday trading on Thursday, reaching $153.77. The stock had a trading volume of 905,901 shares, compared to its average volume of 658,914. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $8.31 billion, a price-to-earnings ratio of 106.05 and a beta of 1.23. The company's 50-day moving average is $162.92 and its 200 day moving average is $166.42. Masimo Co. has a 12-month low of $101.61 and a 12-month high of $194.88.

Masimo (NASDAQ:MASI - Get Free Report) last issued its quarterly earnings results 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 return on equity of 14.98% and a net margin of 3.85%. The company had revenue of $372.00 million for the quarter, compared to analysts' expectations of $367.79 million. During the same period in the prior year, the firm earned $0.77 earnings per share. The firm's revenue for the quarter was down 24.5% on a year-over-year basis. On average, equities analysts predict that Masimo Co. will post 4.1 EPS for the current fiscal year.

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.