Capital Research Global Investors Grows Position in Masimo Co. (NASDAQ:MASI)

Capital Research Global Investors boosted its holdings in shares of Masimo Co. (NASDAQ:MASI - Free Report) by 80.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,454,975 shares of the medical equipment provider's stock after acquiring an additional 1,094,647 shares during the quarter. Capital Research Global Investors owned 4.59% of Masimo worth $405,807,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in Masimo by 8.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 647,720 shares of the medical equipment provider's stock valued at $107,076,000 after buying an additional 50,022 shares in the last quarter. First Trust Advisors LP grew its position in shares of Masimo by 780.4% during the 4th quarter. First Trust Advisors LP now owns 47,328 shares of the medical equipment provider's stock worth $7,823,000 after buying an additional 41,952 shares in the last quarter. Forum Financial Management LP bought a new position in Masimo during the 4th quarter worth about $217,000. Commerce Bank increased its position in Masimo by 16.1% during the 4th quarter. Commerce Bank now owns 4,900 shares of the medical equipment provider's stock valued at $810,000 after purchasing an additional 679 shares during the period. Finally, Cramer Rosenthal Mcglynn LLC lifted its position in shares of Masimo by 20.4% in the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 222,817 shares of the medical equipment provider's stock worth $36,832,000 after purchasing an additional 37,800 shares during the period. Institutional investors own 85.96% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MASI. Wells Fargo & Company lifted their price target on Masimo from $193.00 to $205.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Needham & Company LLC restated a "hold" rating on shares of Masimo in a report on Thursday, April 10th. Piper Sandler boosted their price objective 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. Finally, Raymond James increased their target price on shares of Masimo from $170.00 to $194.00 and gave the company an "outperform" rating in a research 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 company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $194.80.

Masimo Stock Up 3.0 %

Shares of MASI stock traded up $4.70 during trading hours on Thursday, reaching $162.63. 670,480 shares of the company's stock were exchanged, compared to its average volume of 660,078. Masimo Co. has a 1 year low of $101.61 and a 1 year 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 stock has a market cap of $8.79 billion, a PE ratio of 112.16 and a beta of 1.28. The stock's fifty day moving average price is $166.42 and its two-hundred day moving average price is $165.07.

Masimo (NASDAQ:MASI - Get Free Report) last released its 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. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The company had revenue of $600.70 million for the quarter, compared to the consensus estimate of $593.35 million. Research analysts predict that Masimo Co. will post 4.1 EPS for the current year.

Insider Buying and Selling

In related news, COO Bilal Muhsin sold 30,000 shares of the stock in a transaction that occurred 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 represents a 55.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Craig B. Reynolds sold 2,053 shares of Masimo stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $166.13, for a total transaction of $341,064.89. Following the sale, the director now owns 16,581 shares of the company's stock, valued at approximately $2,754,601.53. The trade was a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.70% of the stock is currently owned by company insiders.

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.