Masimo Co. (MASI) Position Lifted by Rhumbline Advisers

Rhumbline Advisers grew its stake in Masimo Co. (NASDAQ:MASI) by 18.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 107,530 shares of the medical equipment provider’s stock after purchasing an additional 16,953 shares during the quarter. Rhumbline Advisers owned about 0.21% of Masimo worth $9,308,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MASI. Fortaleza Asset Management Inc. bought a new stake in shares of Masimo in the 2nd quarter valued at $106,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Masimo by 13.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,018 shares of the medical equipment provider’s stock worth $184,000 after purchasing an additional 236 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Masimo during the 2nd quarter worth about $203,000. Advisor Group Inc. increased its holdings in Masimo by 38.4% during the 2nd quarter. Advisor Group Inc. now owns 2,361 shares of the medical equipment provider’s stock worth $216,000 after purchasing an additional 655 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in Masimo during the 2nd quarter worth about $219,000. 83.74% of the stock is currently owned by institutional investors.

In other news, Director Steven Barker sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $90.00, for a total transaction of $900,000.00. Following the transaction, the director now directly owns 73,249 shares of the company’s stock, valued at $6,592,410. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Yongsam Lee sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $89.89, for a total transaction of $449,450.00. Following the transaction, the executive vice president now directly owns 74,000 shares in the company, valued at $6,651,860. The disclosure for this sale can be found here. Insiders have sold 53,074 shares of company stock valued at $4,737,245 over the last 90 days. Company insiders own 13.10% of the company’s stock.

MASI has been the subject of a number of research reports. Zacks Investment Research upgraded Masimo from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a report on Thursday, November 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $108.00 target price on shares of Masimo in a report on Friday, November 3rd. BTIG Research upgraded Masimo from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Monday, August 14th. Finally, BidaskClub cut Masimo from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $97.17.

Shares of Masimo Co. (NASDAQ:MASI) opened at $88.11 on Wednesday. Masimo Co. has a one year low of $60.31 and a one year high of $104.71. The stock has a market cap of $4,571.35, a PE ratio of 33.90, a P/E/G ratio of 2.98 and a beta of 0.72.

Masimo (NASDAQ:MASI) last issued its earnings results on Tuesday, October 31st. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.17. Masimo had a net margin of 45.83% and a return on equity of 22.17%. The business had revenue of $193.69 million during the quarter, compared to the consensus estimate of $189.01 million. During the same period last year, the business posted $0.52 EPS. Masimo’s revenue was up 15.6% on a year-over-year basis. equities research analysts expect that Masimo Co. will post 2.95 EPS for the current year.

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About Masimo

Masimo Corporation is a medical technology company that develops, manufactures and markets a range of non-invasive patient monitoring technologies. The Company’s business is Measure-through Motion and Low Perfusion pulse oximetry monitoring, known as Masimo Signal Extraction Technology (SET) pulse oximetry.

Institutional Ownership by Quarter for Masimo (NASDAQ:MASI)

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