Ameriprise Financial Inc. Acquires 16,085 Shares of Masimo Co. (NASDAQ:MASI)

Ameriprise Financial Inc. lifted its position in Masimo Co. (NASDAQ:MASI - Free Report) by 8.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 215,946 shares of the medical equipment provider's stock after buying an additional 16,085 shares during the period. Ameriprise Financial Inc. owned approximately 0.40% of Masimo worth $35,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC lifted 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. Vanguard Group Inc. lifted its position in Masimo by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 4,586,702 shares of the medical equipment provider's stock valued at $758,182,000 after purchasing an additional 66,215 shares in the last quarter. Capital Research Global Investors lifted 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 lifted 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. Finally, T. Rowe Price Investment Management Inc. lifted its position in Masimo by 8.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,662,376 shares of the medical equipment provider's stock valued at $274,791,000 after purchasing an additional 135,888 shares in the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Masimo Price Performance

Shares of MASI stock traded up $1.23 during trading hours on Friday, hitting $155.62. The stock had a trading volume of 537,620 shares, compared to its average volume of 653,640. Masimo Co. has a one year low of $101.61 and a one year high of $194.88. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11. The stock's 50-day moving average price is $160.06 and its two-hundred day moving average price is $167.33. The stock has a market capitalization of $8.44 billion, a price-to-earnings ratio of 107.32 and a beta of 1.23.

Masimo (NASDAQ:MASI - Get Free Report) last issued its earnings results on Tuesday, May 6th. The medical equipment provider reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.12. The firm had revenue of $372.00 million for the quarter, compared to analysts' expectations of $367.79 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The business's revenue was down 24.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 earnings per share. Equities analysts forecast that Masimo Co. will post 4.1 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MASI shares. Needham & Company LLC reiterated a "hold" rating on shares of Masimo in a research report on Thursday, April 10th. Raymond James decreased their price target on Masimo from $204.00 to $185.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Piper Sandler reissued an "overweight" rating and set a $200.00 price target (down from $215.00) on shares of Masimo in a report on Wednesday, May 7th. Wells Fargo & Company decreased their price target on Masimo from $205.00 to $190.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Finally, BTIG Research set a $193.00 price target on Masimo and gave the company a "buy" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $191.60.

Insider Buying and Selling

In other Masimo news, COO Bilal Muhsin sold 10,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $163.28, for a total transaction of $1,632,800.00. Following the completion of the transaction, the chief operating officer now owns 24,172 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at this link. Also, Director Craig B. Reynolds sold 2,053 shares of the business'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 transaction, the director now owns 16,581 shares of the company's stock, valued at $2,754,601.53. This trade represents a 11.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,053 shares of company stock worth $6,998,565. Corporate 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.