Proficio Capital Partners LLC Makes New Investment in Masimo Co. (NASDAQ:MASI)

Proficio Capital Partners LLC purchased a new position in shares of Masimo Co. (NASDAQ:MASI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 46,780 shares of the medical equipment provider's stock, valued at approximately $7,733,000. Proficio Capital Partners LLC owned 0.09% of Masimo as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. FMR LLC lifted its holdings in shares of Masimo by 41.2% during the 3rd quarter. FMR LLC now owns 6,756,618 shares of the medical equipment provider's stock worth $900,860,000 after acquiring an additional 1,970,883 shares during the period. Westfield Capital Management Co. LP increased its position in Masimo by 23.2% during the third quarter. Westfield Capital Management Co. LP now owns 1,394,056 shares of the medical equipment provider's stock worth $185,869,000 after purchasing an additional 262,370 shares during the last quarter. Assenagon Asset Management S.A. raised its stake 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 purchasing an additional 194,788 shares during the period. Clearline Capital LP acquired a new position in shares of Masimo in the 3rd quarter valued at $21,337,000. Finally, Two Sigma Advisers LP grew its stake in shares of Masimo by 95.9% during the 3rd quarter. Two Sigma Advisers LP now owns 218,600 shares of the medical equipment provider's stock valued at $29,146,000 after buying an additional 107,000 shares during the period. Institutional investors and hedge funds own 85.96% of the company's stock.

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Insider Buying and Selling

In other Masimo news, Director Craig B. Reynolds sold 2,053 shares of the company's 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 sale, the director now directly owns 16,581 shares in the company, valued at $2,754,601.53. This represents a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Bilal Muhsin sold 30,000 shares of Masimo stock in a transaction on Monday, March 10th. The shares were sold at an average price of $167.49, for a total value of $5,024,700.00. Following the transaction, the chief operating officer now owns 24,172 shares in the company, valued at approximately $4,048,568.28. This trade represents a 55.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Raymond James lifted their target price on Masimo from $170.00 to $194.00 and gave the company an "outperform" rating in a report on Friday, December 27th. Needham & Company LLC restated a "hold" rating on shares of Masimo in a research note on Wednesday, February 26th. Piper Sandler lifted their price target on shares of Masimo from $210.00 to $215.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Wells Fargo & Company increased their price objective on shares of Masimo from $193.00 to $205.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus reissued a "buy" rating and issued a $190.00 target price (up previously from $170.00) on shares of Masimo in a research report on Friday, November 22nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Masimo currently has an average rating of "Moderate Buy" and a consensus target price of $194.80.

Masimo Stock Performance

MASI stock traded up $4.63 during trading on Wednesday, hitting $172.79. 310,800 shares of the company's stock traded hands, compared to its average volume of 621,397. The stock has a market capitalization of $9.32 billion, a price-to-earnings ratio of 119.17 and a beta of 1.04. Masimo Co. has a 52 week low of $101.61 and a 52 week high of $194.88. The stock has a fifty day moving average price of $174.91 and a two-hundred day moving average price of $158.68. 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 released its quarterly earnings data on Tuesday, February 25th. The medical equipment provider reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.38. The firm had revenue of $600.70 million for the quarter, compared to analyst estimates of $593.35 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. As a group, equities analysts anticipate that Masimo Co. will post 4.1 EPS for the current fiscal year.

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.