Polar Capital Holdings Plc Takes $996,000 Position in Masimo Co. (NASDAQ:MASI)

Polar Capital Holdings Plc acquired a new position in shares of Masimo Co. (NASDAQ:MASI - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 6,023 shares of the medical equipment provider's stock, valued at approximately $996,000.

A number of other hedge funds also recently added to or reduced their stakes in MASI. Barclays PLC increased its position in Masimo by 152.6% during the third quarter. Barclays PLC now owns 39,957 shares of the medical equipment provider's stock worth $5,329,000 after buying an additional 24,137 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in Masimo during the fourth quarter worth $241,000. Assenagon Asset Management S.A. increased its position in Masimo by 916.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 216,051 shares of the medical equipment provider's stock worth $35,713,000 after buying an additional 194,788 shares in the last quarter. Trust Co. of Vermont purchased a new position in Masimo during the fourth quarter worth $33,000. Finally, HB Wealth Management LLC purchased a new position in Masimo during the fourth quarter worth $201,000. 85.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Masimo Stock Down 0.2%

Shares of NASDAQ:MASI traded down $0.37 during trading on Thursday, hitting $149.03. The company's stock had a trading volume of 163,357 shares, compared to its average volume of 650,613. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01. Masimo Co. has a fifty-two week low of $101.61 and a fifty-two week high of $194.88. The stock's 50-day moving average price is $159.24 and its two-hundred day moving average price is $167.37. The company has a market capitalization of $8.08 billion, a PE ratio of 103.22 and a beta of 1.23.

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

Insider Buying and Selling at Masimo

In related news, COO Bilal Muhsin sold 30,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $167.49, for a total value 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Craig B. Reynolds sold 2,053 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was 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 of the company's stock, valued at $2,754,601.53. This trade represents a 11.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,053 shares of company stock worth $6,998,565 over the last quarter. 16.90% of the stock is owned by corporate insiders.

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.