Masimo Corporation (MASI) Stake Boosted by Sectoral Asset Management Inc
Sectoral Asset Management Inc lifted its stake in Masimo Corporation (NASDAQ:MASI) by 37.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 73,300 shares of the medical equipment provider’s stock after acquiring an additional 20,000 shares during the quarter. Sectoral Asset Management Inc owned 0.14% of Masimo Corporation worth $6,683,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of MASI. Fortaleza Asset Management Inc. acquired a new position in shares of Masimo Corporation in the 2nd quarter worth approximately $106,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Masimo Corporation by 32.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,782 shares of the medical equipment provider’s stock worth $166,000 after buying an additional 434 shares in the last quarter. Dubuque Bank & Trust Co. lifted its holdings in Masimo Corporation by 3.4% during the 2nd quarter. Dubuque Bank & Trust Co. now owns 1,869 shares of the medical equipment provider’s stock worth $170,000 after buying an additional 61 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in Masimo Corporation during the 2nd quarter worth approximately $203,000. Finally, Neuberger Berman Group LLC acquired a new stake in Masimo Corporation during the 1st quarter worth approximately $206,000. Hedge funds and other institutional investors own 83.21% of the company’s stock.
In related news, insider Rick Fishel sold 15,000 shares of the company’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $92.85, for a total value of $1,392,750.00. Following the sale, the insider now directly owns 35,022 shares of the company’s stock, valued at $3,251,792.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sanford Fitch sold 6,000 shares of the company’s stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $91.89, for a total transaction of $551,340.00. Following the completion of the sale, the director now directly owns 89,249 shares in the company, valued at $8,201,090.61. The disclosure for this sale can be found here. Insiders sold 112,000 shares of company stock worth $10,444,090 over the last ninety days. 16.60% of the stock is currently owned by corporate insiders.
A number of research firms have issued reports on MASI. BidaskClub upgraded shares of Masimo Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Stifel Nicolaus began coverage on shares of Masimo Corporation in a report on Monday, July 10th. They set a “buy” rating and a $105.00 target price on the stock. Roth Capital increased their target price on shares of Masimo Corporation from $96.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, July 19th. BTIG Research upgraded shares of Masimo Corporation from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Monday, August 14th. Finally, Zacks Investment Research lowered shares of Masimo Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $95.00.
Masimo Corporation (NASDAQ MASI) traded up 1.94% on Friday, hitting $86.56. 480,668 shares of the company were exchanged. Masimo Corporation has a 52-week low of $53.78 and a 52-week high of $104.71. The stock has a market cap of $4.50 billion, a PE ratio of 14.19 and a beta of 0.84. The firm has a 50 day moving average of $85.78 and a 200-day moving average of $90.95.
Masimo Corporation (NASDAQ:MASI) last posted its quarterly earnings results on Wednesday, August 2nd. The medical equipment provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.12. The firm had revenue of $192.90 million for the quarter, compared to analysts’ expectations of $189.03 million. Masimo Corporation had a net margin of 45.90% and a return on equity of 23.45%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 earnings per share. On average, equities analysts expect that Masimo Corporation will post $2.80 earnings per share for the current fiscal year.
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Masimo Corporation Company Profile
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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