Alliancebernstein L.P. Boosts Stock Position in Masimo Co. (NASDAQ:MASI)

Alliancebernstein L.P. increased its stake in Masimo Co. (NASDAQ:MASI) by 1,276.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 947,391 shares of the medical equipment provider’s stock after acquiring an additional 878,587 shares during the period. Alliancebernstein L.P.’s holdings in Masimo were worth $156,604,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Corient Private Wealth LLC boosted its position in shares of Masimo by 8,847.1% during the fourth quarter. Corient Private Wealth LLC now owns 347,683 shares of the medical equipment provider’s stock valued at $57,472,000 after buying an additional 343,797 shares during the period. Raymond James Financial Inc. bought a new position in shares of Masimo during the 4th quarter worth $33,716,000. Assenagon Asset Management S.A. grew its holdings in Masimo by 916.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 216,051 shares of the medical equipment provider’s stock worth $35,713,000 after acquiring an additional 194,788 shares in the last quarter. Two Sigma Advisers LP boosted its stake in shares of Masimo by 95.9% during the third quarter. Two Sigma Advisers LP now owns 218,600 shares of the medical equipment provider’s stock valued at $29,146,000 after purchasing an additional 107,000 shares in the last quarter. Finally, Great Lakes Advisors LLC bought a new position in shares of Masimo in the 4th quarter worth $15,824,000. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Masimo from $193.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a research note on Wednesday, February 26th. Piper Sandler increased their price objective on shares of Masimo from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Finally, Raymond James lifted their price target on Masimo from $170.00 to $194.00 and gave the company an “outperform” rating in a research report on Friday, December 27th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $194.80.

Insiders Place Their Bets

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

Masimo Price Performance

Shares of NASDAQ MASI opened at $167.61 on Wednesday. Masimo Co. has a one year low of $101.61 and a one year high of $194.88. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01. The firm has a fifty day moving average of $174.50 and a 200 day moving average of $162.48. The firm has a market cap of $9.06 billion, a PE ratio of 115.59 and a beta of 1.04.

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

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.