Masimo Co. (NASDAQ:MASI) Shares Bought by Picton Mahoney Asset Management

Picton Mahoney Asset Management grew its stake in Masimo Co. (NASDAQ:MASI - Free Report) by 194.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,610 shares of the medical equipment provider's stock after buying an additional 28,153 shares during the period. Picton Mahoney Asset Management owned 0.08% of Masimo worth $7,044,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. FMR LLC raised its holdings in shares of Masimo by 41.2% during the third quarter. FMR LLC now owns 6,756,618 shares of the medical equipment provider's stock worth $900,860,000 after purchasing an additional 1,970,883 shares during the last quarter. State Street Corp increased its holdings in Masimo by 0.7% in the third quarter. State Street Corp now owns 1,438,814 shares of the medical equipment provider's stock valued at $191,837,000 after buying an additional 10,179 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in Masimo by 23.2% in the third quarter. Westfield Capital Management Co. LP now owns 1,394,056 shares of the medical equipment provider's stock valued at $185,869,000 after buying an additional 262,370 shares in the last quarter. Geode Capital Management LLC increased its holdings in Masimo by 1.5% in the third quarter. Geode Capital Management LLC now owns 792,886 shares of the medical equipment provider's stock valued at $105,741,000 after buying an additional 11,984 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Masimo by 9.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 792,166 shares of the medical equipment provider's stock valued at $105,619,000 after buying an additional 70,440 shares in the last quarter. Hedge funds and other institutional investors own 85.96% of the company's stock.

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Insider Activity

In other news, Director Craig B. Reynolds sold 2,053 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $166.13, for a total value of $341,064.89. Following the sale, the director now directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Bilal Muhsin sold 30,000 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $167.49, for a total transaction of $5,024,700.00. Following the completion of the sale, 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. Insiders own 9.70% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on MASI. Raymond James lifted their price objective on shares of Masimo from $170.00 to $194.00 and gave the company an "outperform" rating in a report on Friday, December 27th. Piper Sandler lifted their target price 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. Needham & Company LLC reiterated a "hold" rating on shares of Masimo in a research report on Wednesday, February 26th. Wells Fargo & Company lifted their target price on shares of Masimo from $193.00 to $205.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Finally, Stifel Nicolaus reiterated 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 analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Masimo currently has an average rating of "Moderate Buy" and an average price target of $194.80.

Masimo Trading Down 1.9 %

NASDAQ:MASI traded down $3.24 on Thursday, hitting $169.50. The stock had a trading volume of 535,702 shares, compared to its average volume of 622,618. 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 has a market cap of $9.14 billion, a price-to-earnings ratio of 116.90 and a beta of 1.04. The company has a fifty day moving average price of $174.99 and a two-hundred day moving average price of $158.78. Masimo Co. has a 1-year low of $101.61 and a 1-year high of $194.88.

Masimo (NASDAQ:MASI - Get Free Report) last posted its 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 company 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%. Equities research analysts expect that Masimo Co. will post 4.1 earnings per share 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.