SeaCrest Wealth Management LLC Purchases Shares of 1,790 Masimo Co. (NASDAQ:MASI)

SeaCrest Wealth Management LLC acquired a new position in shares of Masimo Co. (NASDAQ:MASI) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 1,790 shares of the medical equipment provider’s stock, valued at approximately $263,000.

Several other hedge funds have also modified their holdings of the stock. State of Michigan Retirement System grew its holdings in shares of Masimo by 0.9% during the 4th quarter. State of Michigan Retirement System now owns 10,696 shares of the medical equipment provider’s stock worth $1,254,000 after purchasing an additional 100 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in Masimo by 140.6% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 243 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 142 shares during the period. Parallel Advisors LLC increased its position in shares of Masimo by 48.3% in the fourth quarter. Parallel Advisors LLC now owns 445 shares of the medical equipment provider’s stock worth $52,000 after acquiring an additional 145 shares in the last quarter. CWM LLC raised its stake in shares of Masimo by 13.5% in the 4th quarter. CWM LLC now owns 1,318 shares of the medical equipment provider’s stock valued at $154,000 after acquiring an additional 157 shares during the period. Finally, Riverview Trust Co acquired a new position in shares of Masimo during the 1st quarter valued at $25,000. 85.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a report on Wednesday, May 8th. StockNews.com upgraded Masimo from a “sell” rating to a “hold” rating in a report on Friday, March 29th. Stifel Nicolaus raised Masimo from a “hold” rating to a “buy” rating and boosted their price target for the stock from $148.00 to $170.00 in a research report on Monday, April 15th. Wells Fargo & Company raised shares of Masimo from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $117.00 to $160.00 in a research report on Monday, March 25th. Finally, BTIG Research boosted their target price on shares of Masimo from $145.00 to $166.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $143.57.

Insiders Place Their Bets

In other news, Director Craig B. Reynolds sold 40,000 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $136.17, for a total value of $5,446,800.00. Following the completion of the transaction, the director now directly owns 7,406 shares in the company, valued at $1,008,475.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.70% of the stock is owned by insiders.

Masimo Price Performance

MASI stock opened at $114.17 on Thursday. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average is $127.85 and its two-hundred day moving average is $129.14. The company has a market capitalization of $6.07 billion, a PE ratio of 77.67 and a beta of 0.97. Masimo Co. has a 52-week low of $75.22 and a 52-week high of $162.00.

Masimo (NASDAQ:MASI) last announced its quarterly earnings results on Tuesday, May 7th. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. Masimo had a return on equity of 13.26% and a net margin of 4.01%. The company had revenue of $492.80 million during the quarter, compared to analyst estimates of $487.70 million. During the same quarter in the previous year, the firm posted $0.87 EPS. The firm’s quarterly revenue was down 12.8% on a year-over-year basis. Analysts predict that Masimo Co. will post 3.63 earnings per share for the current fiscal 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.