Geode Capital Management LLC Grows Stock Holdings in Masimo Co. (NASDAQ:MASI)

Geode Capital Management LLC increased its holdings in Masimo Co. (NASDAQ:MASI - Free Report) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 801,125 shares of the medical equipment provider's stock after buying an additional 8,239 shares during the period. Geode Capital Management LLC owned 1.50% of Masimo worth $132,465,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MASI. Verition Fund Management LLC bought a new position in Masimo in the 3rd quarter valued at $245,000. Stifel Financial Corp bought a new stake in shares of Masimo in the 3rd quarter worth approximately $229,000. State Street Corp increased its position in Masimo by 0.7% during the 3rd quarter. State Street Corp now owns 1,438,814 shares of the medical equipment provider's stock valued at $191,837,000 after purchasing an additional 10,179 shares during the period. Kovitz Investment Group Partners LLC bought a new position in Masimo in the third quarter worth $499,000. Finally, National Bank of Canada FI raised its position in shares of Masimo by 195.6% in the 3rd quarter. National Bank of Canada FI now owns 132,500 shares of the medical equipment provider's stock worth $17,666,000 after purchasing an additional 87,675 shares during the last quarter. Institutional investors own 85.96% of the company's stock.

Masimo Stock Up 1.3 %

Shares of Masimo stock traded up $1.97 during trading on Monday, reaching $155.87. The company's stock had a trading volume of 17,192 shares, compared to its average volume of 653,497. The company has a 50-day simple moving average of $170.60 and a two-hundred day simple moving average of $164.48. Masimo Co. has a 1-year low of $101.61 and a 1-year high of $194.88. The company has a market cap of $8.42 billion, a price-to-earnings ratio of 107.50 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.

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 company had revenue of $600.70 million for the quarter, compared to the consensus estimate 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 forecast that Masimo Co. will post 4.1 earnings per share for the current year.

Insider Activity at Masimo

In other news, COO Bilal Muhsin sold 30,000 shares of the company's 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 sale, the chief operating officer now directly owns 24,172 shares of the company's stock, valued at approximately $4,048,568.28. This represents a 55.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Craig B. Reynolds sold 2,053 shares of the company'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. This represents 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 insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MASI. Piper Sandler lifted their price target 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. Wells Fargo & Company increased their price objective 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. Needham & Company LLC reissued a "hold" rating on shares of Masimo in a research note on Thursday. Finally, 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. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Masimo presently has an average rating of "Moderate Buy" and an average price target of $194.80.

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.