Great Lakes Advisors LLC Acquires New Stake in Masimo Co. (NASDAQ:MASI)

Great Lakes Advisors LLC acquired a new stake in shares of Masimo Co. (NASDAQ:MASI) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 95,730 shares of the medical equipment provider’s stock, valued at approximately $15,824,000. Great Lakes Advisors LLC owned approximately 0.18% of Masimo as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FMR LLC increased its position in Masimo by 41.2% during the 3rd quarter. FMR LLC now owns 6,756,618 shares of the medical equipment provider’s stock valued at $900,860,000 after buying an additional 1,970,883 shares in the last quarter. State Street Corp increased its holdings in shares of Masimo by 0.7% in the 3rd quarter. State Street Corp now owns 1,438,814 shares of the medical equipment provider’s stock worth $191,837,000 after purchasing an additional 10,179 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in shares of Masimo by 23.2% in the 3rd 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. Geode Capital Management LLC increased its holdings in shares of Masimo by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 792,886 shares of the medical equipment provider’s stock worth $105,741,000 after purchasing an additional 11,984 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Masimo by 9.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 792,166 shares of the medical equipment provider’s stock worth $105,619,000 after purchasing an additional 70,440 shares in the last quarter. Institutional investors own 85.96% of the company’s stock.

Insider Buying and Selling

In other Masimo news, COO Bilal Muhsin sold 30,000 shares of the firm’s 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 sale, the chief operating officer now owns 24,172 shares in the company, valued at approximately $4,048,568.28. This trade represents a 55.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on MASI. Stifel Nicolaus reissued a “buy” rating and issued a $190.00 target price (up previously from $170.00) on shares of Masimo in a report on Friday, November 22nd. Piper Sandler lifted their target price on Masimo from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Raymond James lifted their target price on Masimo from $170.00 to $194.00 and gave the stock an “outperform” rating in a report on Friday, December 27th. Needham & Company LLC restated a “hold” rating on shares of Masimo in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company raised their price target on Masimo from $193.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.80.

Masimo Stock Performance

MASI stock opened at $167.67 on Thursday. The company has a market cap of $9.05 billion, a P/E ratio of 115.63 and a beta of 1.03. Masimo Co. has a 1 year low of $101.61 and a 1 year high of $194.88. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11. The stock’s fifty day moving average price is $174.96 and its 200-day moving average price is $156.95.

Masimo (NASDAQ:MASI) last released its quarterly earnings results on Tuesday, February 25th. The medical equipment provider reported $1.80 earnings per share (EPS) for the quarter, beating 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 business had revenue of $600.70 million during the quarter, compared to analyst estimates of $593.35 million. On average, equities analysts forecast that Masimo Co. will post 4.1 earnings per share for the current 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.