PNC Financial Services Group Inc. Buys 840 Shares of Masimo Co. (NASDAQ:MASI)

PNC Financial Services Group Inc. boosted its stake in Masimo Co. (NASDAQ:MASI) by 21.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,685 shares of the medical equipment provider’s stock after purchasing an additional 840 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Masimo were worth $774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. FMR LLC raised its position in shares of Masimo by 41.2% during the 3rd quarter. FMR LLC now owns 6,756,618 shares of the medical equipment provider’s stock valued at $900,860,000 after buying an additional 1,970,883 shares in the last quarter. State Street Corp increased its stake in Masimo by 0.7% in the third quarter. State Street Corp now owns 1,438,814 shares of the medical equipment provider’s stock valued at $191,837,000 after acquiring an additional 10,179 shares during the last quarter. Westfield Capital Management Co. LP raised its position in Masimo by 23.2% during the third quarter. Westfield Capital Management Co. LP now owns 1,394,056 shares of the medical equipment provider’s stock valued at $185,869,000 after purchasing an additional 262,370 shares in the last quarter. Geode Capital Management LLC lifted its stake in Masimo by 1.5% during the third quarter. Geode Capital Management LLC now owns 792,886 shares of the medical equipment provider’s stock worth $105,741,000 after purchasing an additional 11,984 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Masimo by 9.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 792,166 shares of the medical equipment provider’s stock worth $105,619,000 after purchasing an additional 70,440 shares in the last quarter. 85.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on MASI. Piper Sandler raised their price objective on Masimo from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Raymond James boosted their price objective on shares of Masimo from $170.00 to $194.00 and gave the stock an “outperform” rating in a report on Friday, December 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a report on Wednesday, February 26th. Stifel Nicolaus reiterated a “buy” rating and issued a $190.00 target price (up previously from $170.00) on shares of Masimo in a research report on Friday, November 22nd. Finally, Wells Fargo & Company upped their price target on shares of Masimo from $193.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Masimo currently has a consensus rating of “Moderate Buy” and an average target price of $194.80.

Insider Activity

In other news, COO Bilal Muhsin sold 30,000 shares of Masimo stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $167.49, for a total transaction of $5,024,700.00. Following the sale, the chief operating officer now owns 24,172 shares of the company’s stock, valued at approximately $4,048,568.28. The trade was a 55.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Craig B. Reynolds sold 2,053 shares of the 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 transaction, the director now directly owns 16,581 shares of the company’s stock, valued at approximately $2,754,601.53. The trade was a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.70% of the company’s stock.

Masimo Trading Up 2.7 %

Shares of MASI opened at $172.78 on Tuesday. The firm has a fifty day simple moving average of $174.86 and a two-hundred day simple moving average of $158.33. Masimo Co. has a twelve month low of $101.61 and a twelve month high of $194.88. The stock has a market capitalization of $9.32 billion, a P/E ratio of 119.16 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.

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

Masimo Profile

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.