Fmr LLC Purchases 1,340,836 Shares of Masimo Co. (NASDAQ:MASI)

Fmr LLC lifted its position in Masimo Co. (NASDAQ:MASI) by 19.8% during the 4th quarter, HoldingsChannel reports. The firm owned 8,097,454 shares of the medical equipment provider’s stock after buying an additional 1,340,836 shares during the period. Fmr LLC owned about 0.15% of Masimo worth $1,338,509,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Atika Capital Management LLC purchased a new stake in shares of Masimo in the 4th quarter valued at about $6,083,000. Russell Investments Group Ltd. increased its position in shares of Masimo by 3,703.7% in the fourth quarter. Russell Investments Group Ltd. now owns 19,703 shares of the medical equipment provider’s stock worth $3,257,000 after purchasing an additional 19,185 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Masimo by 17.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 31,107 shares of the medical equipment provider’s stock worth $5,142,000 after purchasing an additional 4,579 shares during the last quarter. Landscape Capital Management L.L.C. bought a new stake in Masimo during the fourth quarter valued at approximately $923,000. Finally, ExodusPoint Capital Management LP purchased a new position in Masimo in the 4th quarter worth approximately $4,203,000. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Masimo from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Wells Fargo & Company lifted their price target on Masimo from $193.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a research report on Wednesday, February 26th. Finally, Raymond James raised their price objective on Masimo from $170.00 to $194.00 and gave the company an “outperform” rating in a report on Friday, December 27th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $194.80.

Insider Buying and Selling at Masimo

In other 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Craig B. Reynolds sold 2,053 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $166.13, for a total value of $341,064.89. Following the transaction, the director now owns 16,581 shares in the company, valued at approximately $2,754,601.53. This represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. 9.70% of the stock is currently owned by corporate insiders.

Masimo Stock Down 5.2 %

MASI opened at $144.40 on Monday. Masimo Co. has a 12 month low of $101.61 and a 12 month high of $194.88. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The business’s 50-day moving average price is $173.64 and its 200-day moving average price is $163.36. The company has a market cap of $7.80 billion, a P/E ratio of 99.59 and a beta of 1.28.

Masimo (NASDAQ:MASI) last announced its quarterly earnings data on Tuesday, February 25th. The medical equipment provider reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.38. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The firm had revenue of $600.70 million during the quarter, compared to the consensus estimate of $593.35 million. On average, equities analysts expect that Masimo Co. will post 4.1 EPS for the current year.

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.