Norges Bank Invests $5.52 Million in Masimo Co. (NASDAQ:MASI)

Norges Bank bought a new stake in Masimo Co. (NASDAQ:MASI - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 33,394 shares of the medical equipment provider's stock, valued at approximately $5,520,000. Norges Bank owned 0.06% of Masimo at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp purchased a new stake in Masimo in the fourth quarter worth $27,000. UMB Bank n.a. grew its holdings in shares of Masimo by 180.9% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the medical equipment provider's stock worth $32,000 after purchasing an additional 123 shares during the last quarter. Blue Trust Inc. increased its stake in Masimo by 56.3% in the 4th quarter. Blue Trust Inc. now owns 197 shares of the medical equipment provider's stock worth $33,000 after buying an additional 71 shares during the period. Trust Co. of Vermont bought a new stake in Masimo during the 4th quarter valued at about $33,000. Finally, EverSource Wealth Advisors LLC boosted its position in Masimo by 40.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 224 shares of the medical equipment provider's stock valued at $37,000 after buying an additional 64 shares during the period. Institutional investors own 85.96% of the company's stock.

Insider Activity at Masimo

In other Masimo news, Director Craig B. Reynolds sold 2,053 shares of Masimo stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $166.13, for a total transaction of $341,064.89. Following the transaction, the director now directly owns 16,581 shares of the company's stock, valued at $2,754,601.53. The trade was a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Bilal Muhsin sold 30,000 shares of Masimo stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 24,172 shares in the company, valued at approximately $4,048,568.28. The trade was a 55.38 % decrease in their position. The disclosure for this sale can be found here. 9.70% of the stock is currently owned by corporate insiders.

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Masimo Stock Performance

Shares of MASI traded up $0.14 during mid-day trading on Tuesday, reaching $153.75. The company had a trading volume of 45,608 shares, compared to its average volume of 653,959. The stock has a market capitalization of $8.31 billion, a P/E ratio of 105.79 and a beta of 1.28. Masimo Co. has a 52-week low of $101.61 and a 52-week high of $194.88. The stock has a 50 day moving average of $170.11 and a two-hundred day moving average of $164.63. The company has a quick ratio of 1.11, a current ratio of 2.01 and a debt-to-equity ratio of 0.50.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on MASI shares. Raymond James raised their target price on shares of Masimo from $170.00 to $194.00 and gave the stock an "outperform" rating in a research report on Friday, December 27th. Wells Fargo & Company raised their price objective on Masimo from $193.00 to $205.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Needham & Company LLC reiterated a "hold" rating on shares of Masimo in a report on Thursday, April 10th. Finally, Piper Sandler increased their price target on Masimo from $210.00 to $215.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $194.80.

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.