Kornitzer Capital Management Inc. KS Invests $6.21 Million in Masimo Co. (NASDAQ:MASI)

Kornitzer Capital Management Inc. KS purchased a new stake in shares of Masimo Co. (NASDAQ:MASI - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 53,000 shares of the medical equipment provider's stock, valued at approximately $6,212,000. Kornitzer Capital Management Inc. KS owned approximately 0.10% of Masimo as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA acquired a new stake in shares of Masimo during the 3rd quarter valued at $132,699,000. Eminence Capital LP acquired a new stake in shares of Masimo during the 3rd quarter valued at $90,859,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Masimo during the 4th quarter valued at $80,154,000. Goldman Sachs Group Inc. lifted its position in shares of Masimo by 92.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 856,664 shares of the medical equipment provider's stock valued at $111,940,000 after acquiring an additional 410,793 shares during the last quarter. Finally, Hawk Ridge Capital Management LP lifted its holdings in shares of Masimo by 124.4% in the third quarter. Hawk Ridge Capital Management LP now owns 567,765 shares of the medical equipment provider's stock valued at $49,782,000 after purchasing an additional 314,763 shares in the last quarter. 85.96% of the stock is owned by institutional investors.

Masimo Stock Down 0.8 %

Shares of NASDAQ:MASI traded down $1.15 during midday trading on Friday, hitting $134.77. 353,006 shares of the stock were exchanged, compared to its average volume of 495,358. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.22 and a current ratio of 2.18. Masimo Co. has a 52-week low of $75.22 and a 52-week high of $198.00. The business's fifty day simple moving average is $135.66 and its two-hundred day simple moving average is $114.96. The company has a market capitalization of $7.13 billion, a PE ratio of 89.25 and a beta of 0.97.

Masimo (NASDAQ:MASI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The medical equipment provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.43. The business had revenue of $548.90 million during the quarter, compared to analyst estimates of $545.69 million. Masimo had a return on equity of 13.77% and a net margin of 3.98%. Masimo's quarterly revenue was down 11.0% compared to the same quarter last year. During the same period last year, the company earned $1.32 earnings per share. As a group, research analysts predict that Masimo Co. will post 3.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MASI. Needham & Company LLC lowered Masimo from a "buy" rating to a "hold" rating in a report on Wednesday, January 3rd. StockNews.com upgraded Masimo from a "sell" rating to a "hold" rating in a report on Friday, March 29th. BTIG Research increased their target price on Masimo from $145.00 to $166.00 and gave the company a "buy" rating in a report on Monday, March 25th. Stifel Nicolaus upgraded Masimo from a "hold" rating to a "buy" rating and increased their target price for the company from $148.00 to $170.00 in a report on Monday, April 15th. Finally, Piper Sandler increased their target price on Masimo from $70.00 to $117.00 and gave the company a "neutral" rating in a report on Monday, February 26th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $137.43.

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.