Verition Fund Management LLC Purchases Shares of 2,169 Masimo Co. (NASDAQ:MASI)

Verition Fund Management LLC purchased a new stake in shares of Masimo Co. (NASDAQ:MASI – Get Rating) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,169 shares of the medical equipment provider’s stock, valued at approximately $306,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Nomura Holdings Inc. purchased a new stake in Masimo in the second quarter worth $242,537,000. Goldman Sachs Group Inc. raised its holdings in Masimo by 92.1% in the second quarter. Goldman Sachs Group Inc. now owns 856,664 shares of the medical equipment provider’s stock worth $111,940,000 after purchasing an additional 410,793 shares in the last quarter. Bank of Nova Scotia raised its holdings in Masimo by 19,378.7% in the second quarter. Bank of Nova Scotia now owns 305,037 shares of the medical equipment provider’s stock worth $39,859,000 after purchasing an additional 303,471 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Masimo by 391.0% in the third quarter. Canada Pension Plan Investment Board now owns 318,600 shares of the medical equipment provider’s stock worth $44,974,000 after purchasing an additional 253,710 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new position in Masimo in the first quarter worth $34,358,000. Hedge funds and other institutional investors own 87.67% of the company’s stock.

Insider Activity at Masimo

In other Masimo news, CEO Joe E. Kiani bought 7,040 shares of Masimo stock in a transaction that occurred on Thursday, December 15th. The shares were bought at an average cost of $144.79 per share, with a total value of $1,019,321.60. Following the transaction, the chief executive officer now directly owns 46,818 shares of the company’s stock, valued at approximately $6,778,778.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MASI. Needham & Company LLC raised their price target on Masimo from $173.00 to $192.00 and gave the company a “buy” rating in a report on Wednesday, March 1st. Piper Sandler raised their price target on Masimo from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Wednesday, March 1st. Stifel Nicolaus raised their price target on Masimo from $164.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, January 11th. Raymond James lifted their price objective on Masimo from $187.00 to $198.00 and gave the stock an “outperform” rating in a report on Wednesday, March 1st. Finally, BTIG Research raised their target price on Masimo from $180.00 to $195.00 in a research report on Wednesday, March 1st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Masimo has a consensus rating of “Moderate Buy” and a consensus price target of $182.00.

Masimo Trading Down 0.7 %

Shares of NASDAQ MASI opened at $175.84 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.08 and a quick ratio of 1.28. The stock has a market capitalization of $9.25 billion, a P/E ratio of 67.63 and a beta of 0.86. Masimo Co. has a 1-year low of $108.89 and a 1-year high of $184.96. The business has a fifty day moving average price of $164.87 and a 200 day moving average price of $149.38.

Masimo (NASDAQ:MASI – Get Rating) last issued its quarterly earnings data on Tuesday, February 28th. The medical equipment provider reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.15. Masimo had a return on equity of 18.84% and a net margin of 7.06%. The firm had revenue of $617.00 million during the quarter, compared to analysts’ expectations of $602.49 million. During the same period in the prior year, the business posted $1.21 EPS. The firm’s quarterly revenue was up 88.4% on a year-over-year basis. Equities research analysts expect that Masimo Co. will post 4.75 EPS for the current fiscal year.

Masimo Company Profile

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Masimo Corp. is a medical technology company, which develops, manufactures and markets noninvasive patient monitoring technologies, medical devices and sensors. Its products include continuous monitors, patient-worn monitors, hospital automation connectivity, capnography & gas, data download & analytics and sensors & accessories.