By otakuyassine3@gmail.com 
M&T Bank Corp boosted its position in shares of Masimo Co. (NASDAQ:MASI – Free Report) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,660 shares of the medical equipment provider’s stock after purchasing an additional 124 shares during the quarter. M&T Bank Corp’s holdings in Masimo were worth $440,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of MASI. FMR LLC boosted its position in 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 in the last quarter. Westfield Capital Management Co. LP boosted its position in Masimo by 23.2% during the third quarter. Westfield Capital Management Co. LP now owns 1,394,056 shares of the medical equipment provider’s stock worth $185,869,000 after purchasing an additional 262,370 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in 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 purchasing an additional 194,788 shares in the last quarter. Clearline Capital LP purchased a new stake in Masimo during the third quarter worth $21,337,000. Finally, ING Groep NV boosted its position in Masimo by 143.3% during the third quarter. ING Groep NV now owns 240,900 shares of the medical equipment provider’s stock worth $32,119,000 after purchasing an additional 141,900 shares in the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, COO Bilal Muhsin sold 30,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $167.49, for a total transaction of $5,024,700.00. Following the transaction, the chief operating officer now directly owns 24,172 shares in the company, valued at approximately $4,048,568.28. This represents a 55.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 9.70% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of analysts have commented on MASI shares. Wells Fargo & Company boosted their target price on Masimo from $193.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Needham & Company LLC restated a “hold” rating on shares of Masimo in a research report on Wednesday, February 26th. Stifel Nicolaus restated a “buy” rating and issued a $190.00 price objective (up from $170.00) on shares of Masimo in a research report on Friday, November 22nd. Piper Sandler upped their price objective on Masimo from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, Raymond James upped their price objective on Masimo from $170.00 to $194.00 and gave the company an “outperform” rating in a research report on Friday, December 27th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Masimo presently has an average rating of “Moderate Buy” and a consensus price target of $194.80.
Read Our Latest Report on MASI
Masimo Stock Down 1.2 %
Shares of NASDAQ:MASI opened at $165.69 on Friday. The stock’s fifty day simple moving average is $174.90 and its 200-day simple moving average is $157.02. Masimo Co. has a 52-week low of $101.61 and a 52-week high of $194.88. The company has a market capitalization of $8.94 billion, a P/E ratio of 114.27 and a beta of 1.03. 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 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 return on equity of 14.98% and a net margin of 3.85%. The firm had revenue of $600.70 million for the quarter, compared to the consensus estimate of $593.35 million. As a group, equities research analysts forecast 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.
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