Picton Mahoney Asset Management Buys Shares of 103,037 Masimo Co. (NASDAQ:MASI)

Picton Mahoney Asset Management acquired a new stake in Masimo Co. (NASDAQ:MASI) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 103,037 shares of the medical equipment provider’s stock, valued at approximately $12,078,000. Picton Mahoney Asset Management owned approximately 0.19% of Masimo at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its holdings 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 in the last quarter. Byrne Asset Management LLC purchased a new stake in shares of Masimo during the 4th quarter worth about $28,000. NBC Securities Inc. acquired a new stake in Masimo in the third quarter valued at approximately $34,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Masimo in the 4th quarter valued at $36,000. Finally, Harvest Fund Management Co. Ltd lifted its position in shares of Masimo by 2,888.9% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 538 shares of the medical equipment provider’s stock worth $62,000 after buying an additional 520 shares during the last quarter. 85.96% of the stock is owned by institutional investors.

Masimo Trading Down 1.4 %

Shares of MASI stock traded down $2.00 during trading hours on Tuesday, reaching $136.00. The company had a trading volume of 1,324,224 shares, compared to its average volume of 561,153. Masimo Co. has a 1-year low of $75.22 and a 1-year high of $188.14. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.18 and a quick ratio of 1.22. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of 90.07 and a beta of 0.99. The company has a 50 day moving average of $136.36 and a 200 day moving average of $119.58.

Masimo (NASDAQ:MASI) last announced its quarterly earnings results on Tuesday, February 27th. The medical equipment provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.43. The company had revenue of $548.90 million during the quarter, compared to analysts’ expectations of $545.69 million. Masimo had a return on equity of 13.77% and a net margin of 3.98%. Masimo’s revenue was down 11.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.32 EPS. On average, equities research analysts anticipate that Masimo Co. will post 3.51 EPS for the current year.

Insider Transactions at Masimo

In other Masimo news, Director Craig B. Reynolds sold 40,000 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was 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 of the company’s stock, valued at $1,008,475.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 9.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MASI shares. Wells Fargo & Company upgraded shares of Masimo from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $117.00 to $160.00 in a report on Monday, March 25th. StockNews.com upgraded Masimo from a “sell” rating to a “hold” rating in a report on Friday, March 29th. BTIG Research lifted their price target on Masimo from $145.00 to $166.00 and gave the company a “buy” rating in a report on Monday, March 25th. Jefferies Financial Group reissued a “hold” rating and set a $121.00 price target (up from $107.00) on shares of Masimo in a research note on Tuesday, January 30th. Finally, Piper Sandler boosted their price objective on shares of Masimo from $70.00 to $117.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Masimo has a consensus rating of “Hold” and an average target price of $137.43.

Masimo Company 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.