KLP Kapitalforvaltning AS Buys Shares of 9,400 Masimo Co. (NASDAQ:MASI)

KLP Kapitalforvaltning AS purchased a new stake in Masimo Co. (NASDAQ:MASI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 9,400 shares of the medical equipment provider's stock, valued at approximately $1,554,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MASI. American Century Companies Inc. raised its holdings in Masimo by 12.2% in the fourth quarter. American Century Companies Inc. now owns 12,659 shares of the medical equipment provider's stock valued at $2,093,000 after acquiring an additional 1,374 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Masimo in the 4th quarter valued at $244,000. Northwest & Ethical Investments L.P. purchased a new stake in shares of Masimo during the 4th quarter worth $116,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Masimo by 0.8% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,815 shares of the medical equipment provider's stock worth $1,622,000 after purchasing an additional 82 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd increased its holdings in Masimo by 339.2% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,891 shares of the medical equipment provider's stock valued at $656,000 after buying an additional 3,005 shares during the last quarter. Hedge funds and other institutional investors own 85.96% of the company's stock.

Analysts Set New Price Targets

MASI has been the subject of several analyst reports. Raymond James upped their price objective on Masimo from $170.00 to $194.00 and gave the stock an "outperform" rating in a research report on Friday, December 27th. Needham & Company LLC reiterated a "hold" rating on shares of Masimo in a research note on Wednesday, February 26th. Wells Fargo & Company boosted their price objective on shares of Masimo from $193.00 to $205.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Finally, Piper Sandler boosted their price target on shares of Masimo from $210.00 to $215.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Masimo presently has a consensus rating of "Moderate Buy" and an average price target of $194.80.

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Insiders Place Their Bets

In other news, COO Bilal Muhsin sold 30,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief operating officer now owns 24,172 shares in the company, valued at $4,048,568.28. This trade represents a 55.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 stock was sold at an average price of $166.13, for a total transaction of $341,064.89. Following the sale, the director now directly 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 insiders.

Masimo Stock Performance

NASDAQ MASI traded down $0.22 during trading on Tuesday, reaching $166.38. The company's stock had a trading volume of 102,843 shares, compared to its average volume of 536,657. Masimo Co. has a twelve month low of $101.61 and a twelve month high of $194.88. The firm has a market cap of $8.99 billion, a price-to-earnings ratio of 114.75 and a beta of 1.04. The business's fifty day moving average price is $174.67 and its 200-day moving average price is $162.10. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01.

Masimo (NASDAQ:MASI - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $593.35 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. As a group, 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.