Masimo Corporation (NASDAQ:MASI) Chairman Michelle Brennan Purchases 100 Shares

Key Points

• Michelle Brennan, Chairman of Masimo Corporation, purchased 100 shares of company stock at an average price of $150.35, increasing her total ownership to 7,218 shares valued at over $1 million.
• Masimo reported a quarterly earnings per share of $1.33, exceeding estimates of $1.22, and achieved a revenue of $370.90 million, representing a 7.7% year-over-year increase.
• Institutional investors hold approximately 85.96% of Masimo's stock, indicating strong confidence in the company's performance and future prospects.

Masimo Corporation (NASDAQ:MASI - Get Free Report) Chairman Michelle Brennan purchased 100 shares of Masimo stock in a transaction that occurred on Tuesday, August 12th. The shares were bought at an average cost of $150.35 per share, for a total transaction of $15,035.00. Following the completion of the transaction, the chairman directly owned 7,218 shares in the company, valued at $1,085,226.30. This represents a 1.40% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Masimo Stock Performance

MASI traded down $4.09 during trading hours on Thursday, hitting $151.87. 970,159 shares of the stock were exchanged, compared to its average volume of 634,932. The stock has a 50-day simple moving average of $161.70 and a 200-day simple moving average of $164.24. Masimo Corporation has a 12 month low of $107.98 and a 12 month high of $194.88. The stock has a market cap of $8.25 billion, a price-to-earnings ratio of -17.83 and a beta of 1.21. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.14 and a quick ratio of 1.61.

Masimo (NASDAQ:MASI - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The medical equipment provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.11. Masimo had a positive return on equity of 26.54% and a negative net margin of 24.85%. The firm had revenue of $370.90 million for the quarter, compared to analysts' expectations of $368.65 million. During the same period last year, the business posted $0.86 earnings per share. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. Analysts anticipate that Masimo Corporation will post 4.1 earnings per share for the current year.

Institutional Investors Weigh In On Masimo

Large investors have recently added to or reduced their stakes in the stock. Twin Tree Management LP acquired a new stake in Masimo in the first quarter worth $29,000. MAI Capital Management increased its position in Masimo by 176.7% in the second quarter. MAI Capital Management now owns 202 shares of the medical equipment provider's stock worth $34,000 after buying an additional 129 shares during the period. Farther Finance Advisors LLC increased its position in Masimo by 128.9% in the first quarter. Farther Finance Advisors LLC now owns 206 shares of the medical equipment provider's stock worth $35,000 after buying an additional 116 shares during the period. Hilltop National Bank acquired a new stake in Masimo in the second quarter worth $37,000. Finally, Anderson Financial Strategies LLC acquired a new stake in Masimo in the first quarter worth $49,000. 85.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MASI shares. Wells Fargo & Company reduced their target price on Masimo from $205.00 to $190.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. BTIG Research reiterated a "buy" rating on shares of Masimo in a research note on Thursday. Wall Street Zen cut Masimo from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Piper Sandler increased their target price on Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Finally, Raymond James Financial reduced their target price on Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $193.60.

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.

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