Pacific Point Advisors LLC Takes $208,000 Position in Masimo Co. (NASDAQ:MASI)

Pacific Point Advisors LLC bought a new position in shares of Masimo Co. (NASDAQ:MASI) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,184 shares of the medical equipment provider’s stock, valued at approximately $208,000.

Other large investors also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Masimo by 69.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 190,246 shares of the medical equipment provider’s stock worth $31,448,000 after buying an additional 77,775 shares during the last quarter. Woodline Partners LP grew its holdings in shares of Masimo by 450.4% during the fourth quarter. Woodline Partners LP now owns 51,185 shares of the medical equipment provider’s stock valued at $8,461,000 after buying an additional 41,885 shares during the last quarter. Tidal Investments LLC increased its position in shares of Masimo by 3,530.4% during the fourth quarter. Tidal Investments LLC now owns 86,731 shares of the medical equipment provider’s stock worth $14,337,000 after acquiring an additional 84,342 shares in the last quarter. Tema Etfs LLC acquired a new stake in shares of Masimo in the 4th quarter worth about $1,584,000. Finally, Polar Capital Holdings Plc bought a new position in Masimo in the 4th quarter valued at about $996,000. 85.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on MASI shares. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a report on Thursday, April 10th. Raymond James cut their target price on Masimo from $204.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Piper Sandler reissued an “overweight” rating and issued a $200.00 price target (down from $215.00) on shares of Masimo in a research report on Wednesday, May 7th. BTIG Research set a $193.00 price objective on Masimo and gave the company a “buy” rating in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company cut their price objective on shares of Masimo from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Masimo presently has a consensus rating of “Moderate Buy” and an average target price of $191.60.

Masimo Price Performance

Masimo stock opened at $150.13 on Friday. Masimo Co. has a 52 week low of $101.61 and a 52 week high of $194.88. The company’s 50 day moving average price is $158.42 and its two-hundred day moving average price is $167.38. The stock has a market cap of $8.14 billion, a P/E ratio of 103.54 and a beta of 1.23. 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) last issued its quarterly earnings results on Tuesday, May 6th. The medical equipment provider reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.12. The company had revenue of $372.00 million during the quarter, compared to the consensus estimate of $367.79 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. Masimo’s revenue was down 24.5% on a year-over-year basis. During the same period last year, the business posted $0.77 earnings per share. On average, equities analysts predict that Masimo Co. will post 4.1 earnings per share for the current year.

Insider Activity

In other news, COO Bilal Muhsin sold 30,000 shares of the 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 transaction, the chief operating officer now directly owns 24,172 shares of the company’s stock, valued at $4,048,568.28. This represents a 55.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Craig B. Reynolds sold 2,053 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $166.13, for a total transaction of $341,064.89. Following the sale, the director now 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 disclosure for this sale can be found here. Insiders sold a total of 42,053 shares of company stock valued at $6,998,565 in the last ninety days. 16.90% of the stock is currently owned by insiders.

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.