Victory Capital Management Inc. increased its position in shares of Masimo Corp. (NASDAQ:MASI) by 76.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,148 shares of the company’s stock after buying an additional 934 shares during the period. Victory Capital Management Inc.’s holdings in Masimo Corp. were worth $113,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. State Street Corp raised its stake in shares of Masimo Corp. by 3.1% in the first quarter. State Street Corp now owns 890,937 shares of the company’s stock worth $37,271,000 after buying an additional 26,485 shares in the last quarter. Henderson Group PLC raised its stake in shares of Masimo Corp. by 57.6% in the second quarter. Henderson Group PLC now owns 725,066 shares of the company’s stock worth $38,077,000 after buying an additional 265,011 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Masimo Corp. by 0.7% in the first quarter. Geode Capital Management LLC now owns 426,362 shares of the company’s stock worth $17,838,000 after buying an additional 3,002 shares in the last quarter. Sector Gamma AS raised its stake in shares of Masimo Corp. by 10.6% in the first quarter. Sector Gamma AS now owns 318,463 shares of the company’s stock worth $13,324,000 after buying an additional 30,600 shares in the last quarter. Finally, First Republic Investment Management Inc. bought a new stake in shares of Masimo Corp. during the first quarter worth $12,638,000. Hedge funds and other institutional investors own 79.88% of the company’s stock.
Shares of Masimo Corp. (NASDAQ:MASI) traded down 0.03% during trading on Friday, reaching $59.83. 47,414 shares of the company were exchanged. Masimo Corp. has a one year low of $33.03 and a one year high of $60.52. The stock has a 50-day moving average price of $59.06 and a 200-day moving average price of $51.33. The stock has a market capitalization of $2.95 billion, a PE ratio of 31.37 and a beta of 0.70.
Masimo Corp. (NASDAQ:MASI) last posted its earnings results on Wednesday, August 3rd. The company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.16. The business had revenue of $172.64 million for the quarter, compared to analyst estimates of $166.02 million. Masimo Corp. had a net margin of 15.40% and a return on equity of 29.07%. Masimo Corp.’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 EPS. Analysts forecast that Masimo Corp. will post $2.02 EPS for the current year.
A number of brokerages have recently commented on MASI. Wedbush reiterated an “outperform” rating and set a $63.00 price target (up previously from $60.00) on shares of Masimo Corp. in a report on Thursday, August 4th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $55.00 price target (up previously from $52.00) on shares of Masimo Corp. in a report on Friday, August 5th. Zacks Investment Research lowered shares of Masimo Corp. from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, BTIG Research reiterated a “hold” rating on shares of Masimo Corp. in a report on Friday, August 5th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Masimo Corp. presently has an average rating of “Buy” and a consensus price target of $52.60.
In other news, insider Rick Fishel sold 22,000 shares of the stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $53.85, for a total value of $1,184,700.00. Following the transaction, the insider now owns 42,022 shares of the company’s stock, valued at approximately $2,262,884.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Joe E. Kiani sold 2,200 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $60.00, for a total transaction of $132,000.00. Following the completion of the transaction, the chief executive officer now directly owns 121,441 shares in the company, valued at approximately $7,286,460. The disclosure for this sale can be found here. Corporate insiders own 16.60% of the company’s stock.
Masimo Corp. Company Profile
Masimo Corporation is a medical technology company that develops, manufactures and markets non-invasive patient monitoring products. The Company’s business is measure-through-motion and low-perfusion pulse oximetry monitoring, known as Masimo Signal Extraction Technology (SET) pulse oximetry. Its product offerings include monitoring blood constituents with an optical signature, optical organ oximetry monitoring, electrical brain function monitoring, acoustic respiration monitoring and exhaled gas monitoring.
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