Cardinal Capital Management Grows Stake in Masimo Corporation $MASI

Cardinal Capital Management raised its holdings in shares of Masimo Corporation (NASDAQ:MASI) by 1.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 20,237 shares of the medical equipment provider’s stock after acquiring an additional 369 shares during the period. Cardinal Capital Management’s holdings in Masimo were worth $3,404,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MASI. Cetera Investment Advisers purchased a new position in Masimo during the fourth quarter worth about $305,000. Deutsche Bank AG grew its holdings in shares of Masimo by 9.2% during the fourth quarter. Deutsche Bank AG now owns 6,217 shares of the medical equipment provider’s stock worth $1,028,000 after purchasing an additional 526 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Masimo by 7.9% during the fourth quarter. ProShare Advisors LLC now owns 2,078 shares of the medical equipment provider’s stock worth $343,000 after purchasing an additional 153 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Masimo by 69.2% in the 4th 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 in the last quarter. Finally, Forum Financial Management LP purchased a new position in Masimo in the 4th quarter worth approximately $217,000. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Masimo Price Performance

NASDAQ MASI opened at $142.13 on Tuesday. Masimo Corporation has a one year low of $119.73 and a one year high of $194.88. The stock has a 50-day moving average of $149.74 and a 200 day moving average of $157.38. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of -16.68 and a beta of 1.23. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.61 and a current ratio of 2.14.

Masimo (NASDAQ:MASI) last released its quarterly earnings data on Tuesday, August 5th. The medical equipment provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.22 by $0.11. Masimo had a positive return on equity of 26.54% and a negative net margin of 24.85%.The company had revenue of $370.90 million during the quarter, compared to the consensus estimate of $368.65 million. During the same period last year, the company earned $0.86 EPS. Masimo’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, sell-side analysts forecast that Masimo Corporation will post 4.1 EPS for the current year.

Insider Activity at Masimo

In related news, Director William R. Jellison purchased 3,000 shares of Masimo stock in a transaction dated Monday, August 11th. The stock was purchased at an average cost of $145.98 per share, for a total transaction of $437,940.00. Following the completion of the purchase, the director directly owned 4,790 shares of the company’s stock, valued at $699,244.20. The trade was a 167.60% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 16.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Piper Sandler boosted their price target on shares of Masimo from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 6th. Zacks Research upgraded shares of Masimo from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. BTIG Research reissued a “buy” rating and set a $198.00 price target on shares of Masimo in a research report on Thursday, September 11th. Finally, Wall Street Zen cut Masimo from a “buy” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Masimo presently has an average rating of “Buy” and an average price target of $194.60.

Masimo 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.