Janney Montgomery Scott LLC Increases Stake in Masimo Corporation (NASDAQ:MASI)
Janney Montgomery Scott LLC increased its position in Masimo Corporation (NASDAQ:MASI) by 9.3% during the second quarter, Holdings Channel reports. The fund owned 16,295 shares of the medical equipment provider’s stock after buying an additional 1,391 shares during the period. Janney Montgomery Scott LLC’s holdings in Masimo Corporation were worth $1,486,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Janney Capital Management LLC increased its position in Masimo Corporation by 8.9% in the second quarter. Janney Capital Management LLC now owns 3,382 shares of the medical equipment provider’s stock worth $308,000 after buying an additional 275 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its position in Masimo Corporation by 74.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 17,570 shares of the medical equipment provider’s stock worth $1,602,000 after buying an additional 7,490 shares during the last quarter. Strs Ohio increased its position in Masimo Corporation by 6.1% in the second quarter. Strs Ohio now owns 19,000 shares of the medical equipment provider’s stock worth $1,732,000 after buying an additional 1,100 shares during the last quarter. Congress Asset Management Co. MA increased its position in Masimo Corporation by 19.2% in the second quarter. Congress Asset Management Co. MA now owns 29,814 shares of the medical equipment provider’s stock worth $2,718,000 after buying an additional 4,795 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in Masimo Corporation during the second quarter worth about $203,000. 84.39% of the stock is owned by institutional investors.
Masimo Corporation (NASDAQ MASI) opened at 84.05 on Thursday. The company has a market cap of $4.37 billion, a P/E ratio of 13.78 and a beta of 0.80. Masimo Corporation has a 52 week low of $53.78 and a 52 week high of $104.71. The firm’s 50 day moving average is $92.87 and its 200-day moving average is $89.82.
Masimo Corporation (NASDAQ:MASI) last released its quarterly earnings data on Wednesday, August 2nd. The medical equipment provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.71 by $0.12. The business had revenue of $192.90 million for the quarter, compared to the consensus estimate of $189.03 million. Masimo Corporation had a net margin of 45.90% and a return on equity of 23.45%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 EPS. On average, analysts predict that Masimo Corporation will post $2.80 earnings per share for the current fiscal year.
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A number of research firms recently issued reports on MASI. BidaskClub downgraded shares of Masimo Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday. Stifel Nicolaus reissued a “buy” rating and issued a $108.00 price target (up from $105.00) on shares of Masimo Corporation in a research note on Thursday, August 3rd. Roth Capital increased their price target on shares of Masimo Corporation from $96.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, July 19th. Zacks Investment Research raised shares of Masimo Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Wedbush reaffirmed an “outperform” rating and set a $112.00 target price on shares of Masimo Corporation in a research note on Monday, May 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $94.00.
In other news, COO Anand Sampath sold 40,000 shares of the company’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $92.00, for a total value of $3,680,000.00. Following the sale, the chief operating officer now directly owns 20,000 shares of the company’s stock, valued at approximately $1,840,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sanford Fitch sold 14,000 shares of the company’s stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $92.06, for a total transaction of $1,288,840.00. Following the completion of the sale, the director now directly owns 90,249 shares in the company, valued at $8,308,322.94. The disclosure for this sale can be found here. Insiders sold a total of 115,000 shares of company stock worth $10,773,180 over the last ninety days. Insiders own 16.60% of the company’s stock.
About Masimo Corporation
Masimo Corporation is a medical technology company that develops, manufactures and markets a range of non-invasive patient monitoring technologies. The Company’s business is Measure-through Motion and Low Perfusion pulse oximetry monitoring, known as Masimo Signal Extraction Technology (SET) pulse oximetry.
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