Masimo Co. (NASDAQ:MASI) Stake Lifted by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp increased its stake in shares of Masimo Co. (NASDAQ:MASI) by 1.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 38,847 shares of the medical equipment provider’s stock after acquiring an additional 547 shares during the period. Texas Permanent School Fund Corp’s holdings in Masimo were worth $5,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in MASI. Riverview Trust Co bought a new position in Masimo during the first quarter valued at about $25,000. Byrne Asset Management LLC bought a new position in Masimo during the fourth quarter valued at about $28,000. Massmutual Trust Co. FSB ADV boosted its stake 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 valued at $28,000 after buying an additional 142 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Masimo by 851.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 295 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 264 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Masimo during the fourth quarter valued at about $36,000. 85.96% of the stock is currently owned by institutional investors.

Masimo Stock Up 2.5 %

Masimo stock traded up $2.74 during mid-day trading on Friday, hitting $114.05. The company’s stock had a trading volume of 64,866 shares, compared to its average volume of 634,526. The firm’s 50 day moving average is $124.94 and its 200 day moving average is $128.84. The company has a market cap of $6.07 billion, a PE ratio of 75.72 and a beta of 0.97. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.31 and a quick ratio of 1.31. Masimo Co. has a 52-week low of $75.22 and a 52-week high of $153.93.

Masimo (NASDAQ:MASI) last announced its quarterly earnings data on Tuesday, May 7th. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.06. The firm had revenue of $492.80 million during the quarter, compared to the consensus estimate of $487.70 million. Masimo had a return on equity of 13.26% and a net margin of 4.01%. The business’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.87 EPS. On average, analysts anticipate that Masimo Co. will post 3.63 earnings per share for the current year.

Analyst Ratings Changes

MASI has been the subject of several research reports. Stifel Nicolaus raised Masimo from a “hold” rating to a “buy” rating and raised their target price for the company from $148.00 to $170.00 in a research note on Monday, April 15th. Piper Sandler raised Masimo from a “neutral” rating to an “overweight” rating and upped their target price for the company from $126.00 to $160.00 in a report on Monday, June 3rd. Wells Fargo & Company raised Masimo from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $117.00 to $160.00 in a report on Monday, March 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a report on Tuesday. Finally, StockNews.com raised Masimo from a “sell” rating to a “hold” rating in a report on Friday, March 29th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.57.

Insider Buying and Selling

In other Masimo news, Director Craig B. Reynolds sold 40,000 shares of the company’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 transaction, the director now directly owns 7,406 shares of the company’s stock, valued at approximately $1,008,475.02. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 9.70% of the company’s stock.

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.