Envestnet Asset Management Inc. Purchases 4,579 Shares of Masimo Co. (NASDAQ:MASI)

Envestnet Asset Management Inc. grew its position in shares of Masimo Co. (NASDAQ:MASI - Free Report) by 17.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,107 shares of the medical equipment provider's stock after buying an additional 4,579 shares during the period. Envestnet Asset Management Inc. owned 0.06% of Masimo worth $5,142,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its position in Masimo by 119.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,735,167 shares of the medical equipment provider's stock worth $286,823,000 after purchasing an additional 943,001 shares during the period. Alliancebernstein L.P. boosted its holdings in Masimo by 1,276.9% in the 4th quarter. Alliancebernstein L.P. now owns 947,391 shares of the medical equipment provider's stock worth $156,604,000 after buying an additional 878,587 shares during the period. Corient Private Wealth LLC grew its stake in Masimo by 8,847.1% in the 4th quarter. Corient Private Wealth LLC now owns 347,683 shares of the medical equipment provider's stock valued at $57,472,000 after buying an additional 343,797 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Masimo during the 4th quarter valued at $33,716,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of 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 acquiring an additional 194,788 shares in the last quarter. Institutional investors own 85.96% of the company's stock.

Wall Street Analyst Weigh In

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

Masimo Price Performance

Shares of NASDAQ MASI opened at $152.07 on Wednesday. The firm has a market capitalization of $8.22 billion, a P/E ratio of 104.88 and a beta of 1.28. The company has a quick ratio of 1.11, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. The stock's 50-day simple moving average is $166.89 and its two-hundred day simple moving average is $165.11. Masimo Co. has a twelve month low of $101.61 and a twelve month high of $194.88.

Masimo (NASDAQ:MASI - Get Free Report) last posted 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 company 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%. As a group, equities analysts anticipate that Masimo Co. will post 4.1 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Craig B. Reynolds sold 2,053 shares of the company's stock in a transaction dated 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 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 ownership of the stock. The disclosure for this sale can be found here. 9.70% of the stock is 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.

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