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

Polar Capital Holdings Plc purchased a new stake in Masimo Co. (NASDAQ:MASI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,023 shares of the medical equipment provider's stock, valued at approximately $996,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Masimo by 19.8% during the fourth quarter. FMR LLC now owns 8,097,454 shares of the medical equipment provider's stock worth $1,338,509,000 after purchasing an additional 1,340,836 shares during the last quarter. Capital Research Global Investors grew its holdings in Masimo by 80.5% in 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 during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of 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 acquiring an additional 943,001 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Masimo by 1,276.9% during the fourth quarter. Alliancebernstein L.P. now owns 947,391 shares of the medical equipment provider's stock valued at $156,604,000 after acquiring an additional 878,587 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its position in Masimo by 8,847.1% during the fourth quarter. Corient Private Wealth LLC now owns 347,683 shares of the medical equipment provider's stock worth $57,472,000 after buying an additional 343,797 shares during the period. Hedge funds and other institutional investors own 85.96% of the company's stock.

Insider Transactions at Masimo

In other Masimo news, COO Bilal Muhsin sold 30,000 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $167.49, for a total transaction of $5,024,700.00. Following the completion of the sale, the chief operating officer now directly owns 24,172 shares of the company's stock, valued at approximately $4,048,568.28. This represents a 55.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $341,064.89. Following the sale, the director now owns 16,581 shares in the company, valued at $2,754,601.53. This represents a 11.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,053 shares of company stock valued at $6,998,565 over the last three months. Company insiders own 9.70% of the company's stock.

Masimo Stock Performance

Masimo stock traded up $1.04 during mid-day trading on Tuesday, hitting $156.17. 524,522 shares of the company's stock traded hands, compared to its average volume of 651,630. The firm has a 50 day moving average price of $159.81 and a 200 day moving average price of $167.57. The company has a quick ratio of 1.11, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. The company has a market cap of $8.47 billion, a PE ratio of 107.70 and a beta of 1.23. Masimo Co. has a one year low of $101.61 and a one year high of $194.88.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on MASI shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Masimo in a research note on Thursday, April 10th. Piper Sandler reiterated an "overweight" rating and issued a $200.00 target price (down previously from $215.00) on shares of Masimo in a research note on Wednesday, May 7th. Raymond James lowered 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. Wells Fargo & Company lowered 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. Finally, BTIG Research set a $193.00 price objective on Masimo and gave the company a "buy" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Masimo presently has an average rating of "Moderate Buy" and a consensus target price of $191.60.

Masimo 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.