Swiss National Bank Raises Stock Holdings in Masimo Co. (NASDAQ:MASI)

Swiss National Bank raised its stake in shares of Masimo Co. (NASDAQ:MASI) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,400 shares of the medical equipment provider’s stock after purchasing an additional 1,100 shares during the quarter. Swiss National Bank owned 0.17% of Masimo worth $14,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC grew its position in Masimo by 41.2% in 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 in the last quarter. Westfield Capital Management Co. LP boosted 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. Raymond James Financial Inc. bought a new position in shares of Masimo during the 4th quarter valued at about $33,716,000. Assenagon Asset Management S.A. raised its holdings in shares of 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 buying an additional 194,788 shares in the last quarter. Finally, Clearline Capital LP bought a new stake in Masimo in the 3rd quarter worth approximately $21,337,000. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Insider Activity

In other news, Director Craig B. Reynolds sold 2,053 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $166.13, for a total value of $341,064.89. Following the completion of the transaction, the director now owns 16,581 shares of the company’s stock, valued at approximately $2,754,601.53. This represents a 11.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Bilal Muhsin sold 30,000 shares of Masimo 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 sale, the chief operating officer now owns 24,172 shares in the company, valued at $4,048,568.28. This represents a 55.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.70% of the company’s stock.

Wall Street Analyst Weigh In

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

Masimo Stock Performance

Masimo stock opened at $172.74 on Thursday. Masimo Co. has a 1-year low of $101.61 and a 1-year high of $194.88. The firm has a market cap of $9.32 billion, a P/E ratio of 119.13 and a beta of 1.04. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average of $174.99 and a 200-day moving average of $158.78.

Masimo (NASDAQ:MASI) last issued its quarterly earnings data on Tuesday, February 25th. The medical equipment provider reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.38. The firm had revenue of $600.70 million for the quarter, compared to analyst estimates of $593.35 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. Sell-side analysts expect that Masimo Co. will post 4.1 EPS for the current year.

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.