Corient Private Wealth LLC Buys 343,797 Shares of Masimo Co. (NASDAQ:MASI)

Corient Private Wealth LLC increased its stake in Masimo Co. (NASDAQ:MASI) by 8,847.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 347,683 shares of the medical equipment provider’s stock after buying an additional 343,797 shares during the period. Corient Private Wealth LLC owned 0.65% of Masimo worth $57,472,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of 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 acquiring an additional 1,970,883 shares during the period. Westfield Capital Management Co. LP grew its stake in Masimo by 23.2% in 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. Raymond James Financial Inc. purchased a new position in Masimo during the 4th quarter worth $33,716,000. Assenagon Asset Management S.A. raised its position in Masimo by 916.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 216,051 shares of the medical equipment provider’s stock valued at $35,713,000 after purchasing an additional 194,788 shares in the last quarter. Finally, Clearline Capital LP purchased a new stake in shares of Masimo in the 3rd quarter worth $21,337,000. Institutional investors own 85.96% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on MASI. Raymond James raised their price target on Masimo from $170.00 to $194.00 and gave the company an “outperform” rating in a research note on Friday, December 27th. Wells Fargo & Company boosted their price target on shares of Masimo from $193.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Stifel Nicolaus reissued a “buy” rating and set a $190.00 price objective (up from $170.00) on shares of Masimo in a report on Friday, November 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research report on Wednesday, February 26th. Finally, Piper Sandler boosted their price target on Masimo from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $194.80.

Masimo Price Performance

Shares of MASI stock opened at $168.21 on Monday. The firm has a market capitalization of $9.07 billion, a price-to-earnings ratio of 116.01 and a beta of 1.04. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01. The stock’s 50-day simple moving average is $174.84 and its 200-day simple moving average is $157.94. Masimo Co. has a fifty-two week low of $101.61 and a fifty-two week high of $194.88.

Masimo (NASDAQ:MASI) last posted its quarterly earnings results on Tuesday, February 25th. The medical equipment provider reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.38. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The business had revenue of $600.70 million during the quarter, compared to analysts’ expectations of $593.35 million. As a group, equities analysts forecast that Masimo Co. will post 4.1 earnings per share for the current fiscal year.

Insider Activity

In related 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 value of $5,024,700.00. Following the transaction, the chief operating officer now owns 24,172 shares in the company, valued at approximately $4,048,568.28. This represents a 55.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Craig B. Reynolds sold 2,053 shares of Masimo stock in a transaction that occurred on Friday, March 14th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.70% of the company’s stock.

About Masimo

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.