9,400 Shares in Masimo Co. (NASDAQ:MASI) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new stake in Masimo Co. (NASDAQ:MASI) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 9,400 shares of the medical equipment provider’s stock, valued at approximately $1,554,000.

A number of other hedge funds have also added to or reduced their stakes in MASI. BNP Paribas Financial Markets increased its position in shares of Masimo by 76.4% during the third quarter. BNP Paribas Financial Markets now owns 19,982 shares of the medical equipment provider’s stock valued at $2,664,000 after buying an additional 8,656 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Masimo during the 3rd quarter worth approximately $4,120,000. Rockefeller Capital Management L.P. raised its position in shares of Masimo by 4.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 137,393 shares of the medical equipment provider’s stock worth $18,321,000 after acquiring an additional 5,541 shares in the last quarter. Verition Fund Management LLC purchased a new position in shares of Masimo in the 3rd quarter valued at approximately $245,000. Finally, Fred Alger Management LLC bought a new stake in shares of Masimo during the third quarter valued at approximately $595,000. 85.96% of the stock is owned by hedge funds and other institutional investors.

Masimo Trading Down 2.9 %

NASDAQ:MASI opened at $163.55 on Friday. The stock has a market cap of $8.82 billion, a price-to-earnings ratio of 112.79 and a beta of 1.04. The company has a quick ratio of 1.11, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. The company’s 50 day moving average price is $174.79 and its 200-day moving average price is $161.06. Masimo Co. has a 52 week low of $101.61 and a 52 week high of $194.88.

Masimo (NASDAQ:MASI) last issued its earnings results on Tuesday, February 25th. The medical equipment provider reported $1.80 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 for the quarter, compared to the consensus estimate of $593.35 million. On average, equities research analysts forecast that Masimo Co. will post 4.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, 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 completion of the sale, the chief operating officer now directly owns 24,172 shares in the company, valued at $4,048,568.28. The trade was a 55.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Craig B. Reynolds sold 2,053 shares of the 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 transaction, the director now owns 16,581 shares in the company, valued at approximately $2,754,601.53. This trade represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. 9.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on MASI. Wells Fargo & Company boosted their target price on shares of Masimo from $193.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Piper Sandler upped their price objective on shares of Masimo from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research note on Wednesday, February 26th. Finally, Raymond James upped their price target on Masimo from $170.00 to $194.00 and gave the stock an “outperform” rating in a research note on Friday, December 27th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Masimo currently has a consensus rating of “Moderate Buy” and an average price target of $194.80.

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.