Los Angeles Capital Management & Equity Research Inc. grew its position in shares of Masimo Co. (NASDAQ:MASI) by 26.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 137,145 shares of the medical equipment provider’s stock after buying an additional 29,104 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned about 0.26% of Masimo worth $17,080,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in MASI. FMR LLC raised its position in shares of Masimo by 6,605.4% during the 2nd quarter. FMR LLC now owns 1,821,994 shares of the medical equipment provider’s stock worth $177,918,000 after purchasing an additional 1,794,822 shares during the period. American Century Companies Inc. raised its position in shares of Masimo by 932.6% during the 3rd quarter. American Century Companies Inc. now owns 850,436 shares of the medical equipment provider’s stock worth $105,913,000 after purchasing an additional 768,078 shares during the period. Schroder Investment Management Group raised its position in shares of Masimo by 77.2% during the 2nd quarter. Schroder Investment Management Group now owns 799,435 shares of the medical equipment provider’s stock worth $106,225,000 after purchasing an additional 348,169 shares during the period. Victory Capital Management Inc. raised its position in shares of Masimo by 43.4% during the 3rd quarter. Victory Capital Management Inc. now owns 641,074 shares of the medical equipment provider’s stock worth $79,838,000 after purchasing an additional 194,055 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Masimo by 8.0% during the 2nd quarter. Renaissance Technologies LLC now owns 552,626 shares of the medical equipment provider’s stock worth $53,964,000 after purchasing an additional 41,126 shares during the period. 83.22% of the stock is currently owned by institutional investors.
In other news, Director Sanford Fitch sold 2,000 shares of Masimo stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $113.14, for a total transaction of $226,280.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Bilal Muhsin sold 20,000 shares of Masimo stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $117.75, for a total value of $2,355,000.00. Following the transaction, the executive vice president now owns 10,000 shares in the company, valued at $1,177,500. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 666,033 shares of company stock worth $79,900,568. 12.60% of the stock is owned by insiders.
Several analysts recently commented on MASI shares. Stifel Nicolaus raised their target price on Masimo from $112.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, October 2nd. BidaskClub cut Masimo from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 3rd. Needham & Company LLC started coverage on Masimo in a research report on Friday, September 14th. They issued a “buy” rating on the stock. Piper Jaffray Companies raised their target price on Masimo to $120.00 and gave the company a “neutral” rating in a research report on Thursday, November 1st. Finally, Zacks Investment Research cut Masimo from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $114.40.
MASI opened at $115.49 on Friday. Masimo Co. has a 12 month low of $80.69 and a 12 month high of $126.89. The company has a market capitalization of $6.23 billion, a P/E ratio of 40.39, a price-to-earnings-growth ratio of 2.76 and a beta of 1.11.
Masimo (NASDAQ:MASI) last posted its earnings results on Wednesday, October 31st. The medical equipment provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. Masimo had a return on equity of 20.29% and a net margin of 17.08%. The firm had revenue of $210.58 million for the quarter, compared to analysts’ expectations of $207.62 million. During the same period last year, the firm earned $0.56 EPS. The firm’s revenue was up 8.9% compared to the same quarter last year. Equities analysts anticipate that Masimo Co. will post 2.92 earnings per share for the current year.
Masimo Corporation, a medical technology company, develops, manufactures, and markets noninvasive monitoring technologies 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.
Further Reading: How to calculate the intrinsic value of a stock
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