HighTower Advisors LLC Acquires 2,003 Shares of Masimo Co. (NASDAQ:MASI)

HighTower Advisors LLC grew its stake in shares of Masimo Co. (NASDAQ:MASI) by 41.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,813 shares of the medical equipment provider’s stock after purchasing an additional 2,003 shares during the quarter. HighTower Advisors LLC’s holdings in Masimo were worth $1,126,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MASI. Jones Financial Companies Lllp bought a new stake in shares of Masimo in the 4th quarter worth about $27,000. UMB Bank n.a. boosted its stake in shares of Masimo by 180.9% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 123 shares during the period. Trust Co. of Vermont purchased a new position in shares of Masimo during the fourth quarter worth approximately $33,000. Blue Trust Inc. lifted its holdings in shares of Masimo by 56.3% in the 4th quarter. Blue Trust Inc. now owns 197 shares of the medical equipment provider’s stock worth $33,000 after buying an additional 71 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in Masimo by 31.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 250 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 60 shares during the period. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Masimo Price Performance

Masimo stock opened at $169.70 on Wednesday. The company has a fifty day simple moving average of $175.10 and a 200-day simple moving average of $160.61. The firm has a market capitalization of $9.16 billion, a price-to-earnings ratio of 117.03 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 Co. has a 52-week low of $101.61 and a 52-week high of $194.88.

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

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Raymond James lifted their target price 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 restated a “hold” rating on shares of Masimo in a research report on Wednesday, February 26th. Wells Fargo & Company boosted their price target on Masimo from $193.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Piper Sandler upped their price objective on Masimo from $210.00 to $215.00 and gave the stock 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 issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.80.

Insider Buying and Selling

In related news, COO Bilal Muhsin sold 30,000 shares of the firm’s 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 completion of the sale, the chief operating officer now directly owns 24,172 shares in the company, valued at approximately $4,048,568.28. This trade represents a 55.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Craig B. Reynolds sold 2,053 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were 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 owns 16,581 shares in the company, valued at $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. 9.70% of the stock is currently owned by company insiders.

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.