The Manufacturers Life Insurance Company Boosts Position in Masimo Co. (NASDAQ:MASI)

The Manufacturers Life Insurance Company lifted its holdings in Masimo Co. (NASDAQ:MASI - Free Report) by 40.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,457 shares of the medical equipment provider's stock after acquiring an additional 14,931 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.10% of Masimo worth $8,506,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MASI. Smartleaf Asset Management LLC lifted its holdings in shares of Masimo by 31.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 250 shares of the medical equipment provider's stock valued at $42,000 after purchasing an additional 60 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Masimo by 40.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 224 shares of the medical equipment provider's stock worth $37,000 after acquiring an additional 64 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Masimo by 56.3% in the fourth quarter. Blue Trust Inc. now owns 197 shares of the medical equipment provider's stock valued at $33,000 after purchasing an additional 71 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Masimo by 0.8% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,815 shares of the medical equipment provider's stock valued at $1,622,000 after purchasing an additional 82 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in Masimo by 0.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 10,456 shares of the medical equipment provider's stock valued at $1,728,000 after buying an additional 83 shares during the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Piper Sandler reiterated an "overweight" rating and set a $200.00 target price (down from $215.00) on shares of Masimo in a research note on Wednesday. Needham & Company LLC reissued a "hold" rating on shares of Masimo in a research report on Thursday, April 10th. BTIG Research set a $193.00 price objective on Masimo and gave the company a "buy" rating in a report on Wednesday. Raymond James lowered their target price on Masimo from $204.00 to $185.00 and set an "outperform" rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company cut their price target on Masimo from $205.00 to $190.00 and set an "overweight" rating for the company in a research note on Wednesday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $191.60.

Masimo Trading Up 2.3 %

MASI stock traded up $3.60 on Friday, reaching $157.18. The company's stock had a trading volume of 1,594,616 shares, compared to its average volume of 660,460. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01. The business has a fifty day simple moving average of $161.66 and a two-hundred day simple moving average of $166.58. The firm has a market cap of $8.49 billion, a PE ratio of 108.40 and a beta of 1.23. 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 posted its quarterly earnings data on Tuesday, May 6th. The medical equipment provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.24 by $0.12. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The business had revenue of $372.00 million during the quarter, compared to the consensus estimate of $367.79 million. During the same quarter in the prior year, the company earned $0.77 earnings per share. The firm's quarterly revenue was down 24.5% compared to the same quarter last year. As a group, research analysts forecast that Masimo Co. will post 4.1 EPS for the current year.

Insider Activity

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

Masimo Company 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.