Marshall Wace LLP lessened its stake in shares of Masimo Co. (NASDAQ:MASI – Get Rating) by 89.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,113 shares of the medical equipment provider’s stock after selling 259,685 shares during the quarter. Marshall Wace LLP owned about 0.06% of Masimo worth $4,392,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Masimo by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 4,775,660 shares of the medical equipment provider’s stock valued at $695,050,000 after acquiring an additional 71,918 shares during the last quarter. FMR LLC lifted its stake in shares of Masimo by 1.7% in the 2nd quarter. FMR LLC now owns 2,104,939 shares of the medical equipment provider’s stock worth $275,052,000 after purchasing an additional 35,438 shares during the period. Nomura Holdings Inc. bought a new position in shares of Masimo in the 2nd quarter worth approximately $242,537,000. State Street Corp lifted its stake in shares of Masimo by 1.6% in the 1st quarter. State Street Corp now owns 1,730,991 shares of the medical equipment provider’s stock worth $251,928,000 after purchasing an additional 27,261 shares during the period. Finally, RTW Investments LP lifted its stake in shares of Masimo by 6.6% in the 3rd quarter. RTW Investments LP now owns 1,439,993 shares of the medical equipment provider’s stock worth $203,269,000 after purchasing an additional 89,000 shares during the period. Hedge funds and other institutional investors own 87.67% of the company’s stock.
Insider Activity
In related news, CEO Joe E. Kiani acquired 7,040 shares of Masimo stock in a transaction dated Thursday, December 15th. The shares were purchased at an average price of $144.79 per share, for a total transaction of $1,019,321.60. Following the completion of the transaction, the chief executive officer now directly owns 46,818 shares in the company, valued at approximately $6,778,778.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 9.70% of the company’s stock.
Masimo Price Performance
Masimo (NASDAQ:MASI – Get Rating) last released its quarterly earnings data on Tuesday, February 28th. The medical equipment provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.15. The firm had revenue of $617.00 million for the quarter, compared to analysts’ expectations of $602.49 million. Masimo had a net margin of 7.06% and a return on equity of 18.84%. The company’s revenue for the quarter was up 88.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 earnings per share. As a group, research analysts anticipate that Masimo Co. will post 4.75 earnings per share for the current year.
Analyst Ratings Changes
Several equities analysts have recently weighed in on MASI shares. Stifel Nicolaus increased their price objective on shares of Masimo from $164.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, January 11th. BTIG Research increased their price objective on shares of Masimo from $180.00 to $195.00 in a research note on Wednesday, March 1st. Needham & Company LLC increased their price objective on shares of Masimo from $173.00 to $192.00 and gave the stock a “buy” rating in a research note on Wednesday, March 1st. Piper Sandler increased their price objective on shares of Masimo from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 1st. Finally, Raymond James raised their target price on shares of Masimo from $187.00 to $198.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 1st. Two equities research analysts have rated the stock with a hold rating and seven 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 an average price target of $182.00.
About Masimo
Masimo Corp. is a global technology company, which engages in the development, manufacture, and marketing of patient monitoring technologies, and automation and connectivity solutions. Its products include remote patient monitoring, connectivity, and hospital automation solutions, including Masimo Patient SafetyNet, Masimo Patient SafetyNet Surveillance, Masimo SafetyNet, Masimo SafetyNet-Open, Replica, Iris, MyView, UniView, Uniview: 60, Trace, Masimo Sleep, Centroid, and Bridge.
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