Alliancebernstein L.P. Increases Stock Position in Masimo Co. (NASDAQ:MASI)

Alliancebernstein L.P. raised its stake in shares of Masimo Co. (NASDAQ:MASI - Free Report) by 1,276.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 947,391 shares of the medical equipment provider's stock after purchasing an additional 878,587 shares during the period. Alliancebernstein L.P. owned 1.77% of Masimo worth $156,604,000 at the end of the most recent quarter.

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

Masimo Stock Down 5.2 %

Shares of Masimo stock traded down $7.97 during trading hours on Friday, reaching $144.40. The company's stock had a trading volume of 1,161,410 shares, compared to its average volume of 643,123. The company has a market capitalization of $7.80 billion, a P/E ratio of 99.59 and a beta of 1.28. The stock's fifty day simple moving average is $173.64 and its two-hundred day simple moving average is $163.02. Masimo Co. has a one year low of $101.61 and a one year high of $194.88. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01.

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Masimo (NASDAQ:MASI - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $600.70 million for the quarter, compared to analysts' expectations of $593.35 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. On average, research analysts forecast that Masimo Co. will post 4.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Masimo

In other news, Director Craig B. Reynolds sold 2,053 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $166.13, for a total transaction of $341,064.89. Following the completion of the sale, the director now directly owns 16,581 shares of the company's stock, valued at $2,754,601.53. This trade represents a 11.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Bilal Muhsin sold 30,000 shares of the business's stock in a transaction dated Monday, March 10th. The stock was 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 in the company, valued at $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. Company insiders own 9.70% of the company's stock.

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.