Masimo Corporation (NASDAQ:MASI) Director William R. Jellison Buys 3,000 Shares

Key Points

• William R. Jellison, a director at Masimo Corporation, purchased 3,000 shares of the company's stock at an average price of $145.98, totaling approximately $437,940.
• Masimo reported an earnings per share (EPS) of $1.33 for the last quarter, surpassing expectations by $0.11, with revenue increasing by 7.7% year-over-year.
• Institutional investors own 85.96% of Masimo's stock, with notable increases in holdings from firms like Massachusetts Financial Services Co., which raised its stake by 25.5%.

Masimo Corporation (NASDAQ:MASI - Get Free Report) Director William R. Jellison purchased 3,000 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was bought at an average cost of $145.98 per share, for a total transaction of $437,940.00. Following the purchase, the director directly owned 4,790 shares in the company, valued at $699,244.20. This represents a 167.60% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Masimo Stock Up 1.9%

Shares of Masimo stock traded up $2.76 during trading on Tuesday, hitting $150.13. 652,675 shares of the stock traded hands, compared to its average volume of 630,952. The stock has a market cap of $8.16 billion, a P/E ratio of -17.62 and a beta of 1.21. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.61 and a current ratio of 2.14. Masimo Corporation has a twelve month low of $107.98 and a twelve month high of $194.88. The company has a fifty day moving average price of $162.11 and a two-hundred day moving average price of $164.39.

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

Institutional Investors Weigh In On Masimo

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA lifted its holdings in Masimo by 25.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,470,393 shares of the medical equipment provider's stock worth $415,570,000 after purchasing an additional 502,555 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of 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 worth $405,807,000 after buying an additional 1,094,647 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Masimo by 0.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,673,252 shares of the medical equipment provider's stock worth $278,764,000 after buying an additional 10,876 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of Masimo by 75.9% during the second quarter. Westfield Capital Management Co. LP now owns 1,181,203 shares of the medical equipment provider's stock worth $198,702,000 after buying an additional 509,724 shares during the last quarter. Finally, Durable Capital Partners LP acquired a new position in shares of Masimo during the first quarter worth approximately $187,528,000. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Piper Sandler lifted their price target on Masimo from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. BTIG Research reaffirmed a "buy" rating on shares of Masimo in a research note on Monday, July 14th. Wells Fargo & Company lowered their target price on Masimo from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Raymond James Financial 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, May 7th. Finally, Wall Street Zen cut Masimo from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Masimo has an average rating of "Moderate Buy" and an average price target of $193.60.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.