Atria Investments Inc Takes $335,000 Position in Masimo Co. (NASDAQ:MASI)

Atria Investments Inc acquired a new stake in Masimo Co. (NASDAQ:MASI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,026 shares of the medical equipment provider’s stock, valued at approximately $335,000.

Other hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in shares of Masimo by 31.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 250 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 60 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Masimo by 56.3% during the 4th quarter. Blue Trust Inc. now owns 197 shares of the medical equipment provider’s stock worth $33,000 after purchasing an additional 71 shares during the period. CIBC Asset Management Inc increased its holdings in Masimo by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 1,631 shares of the medical equipment provider’s stock valued at $270,000 after purchasing an additional 87 shares during the last quarter. MML Investors Services LLC raised its position in Masimo by 4.9% in the third quarter. MML Investors Services LLC now owns 2,056 shares of the medical equipment provider’s stock valued at $274,000 after purchasing an additional 96 shares during the period. Finally, Louisiana State Employees Retirement System lifted its stake in Masimo by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the medical equipment provider’s stock worth $2,033,000 after purchasing an additional 100 shares in the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Masimo Stock Performance

Shares of Masimo stock opened at $172.78 on Tuesday. The business has a 50-day simple moving average of $174.86 and a 200-day simple moving average of $158.33. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01. Masimo Co. has a one year low of $101.61 and a one year high of $194.88. The company has a market cap of $9.32 billion, a PE ratio of 119.16 and a beta of 1.04.

Masimo (NASDAQ:MASI) last posted its quarterly earnings results on Tuesday, February 25th. The medical equipment provider reported $1.80 EPS for the quarter, topping the consensus estimate of $1.42 by $0.38. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The company had revenue of $600.70 million during the quarter, compared to analysts’ expectations of $593.35 million. On average, equities research analysts forecast that Masimo Co. will post 4.1 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Raymond James lifted their price objective on Masimo from $170.00 to $194.00 and gave the company an “outperform” rating in a research note on Friday, December 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research report on Wednesday, February 26th. Stifel Nicolaus reissued a “buy” rating and set a $190.00 price target (up previously from $170.00) on shares of Masimo in a research report on Friday, November 22nd. Wells Fargo & Company lifted their price objective on shares of Masimo from $193.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Piper Sandler increased their target price on shares of Masimo from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.