Wealthfront Advisers LLC Buys Shares of 54,679 Masimo Co. (NASDAQ:MASI)

Wealthfront Advisers LLC acquired a new position in shares of Masimo Co. (NASDAQ:MASI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 54,679 shares of the medical equipment provider’s stock, valued at approximately $9,038,000. Wealthfront Advisers LLC owned about 0.10% of Masimo at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its position in Masimo by 31.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 250 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 60 shares in the last quarter. Blue Trust Inc. grew its holdings in Masimo by 56.3% during the 4th quarter. Blue Trust Inc. now owns 197 shares of the medical equipment provider’s stock valued at $33,000 after buying an additional 71 shares during the last quarter. CIBC Asset Management Inc raised its position in Masimo by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,631 shares of the medical equipment provider’s stock valued at $270,000 after purchasing an additional 87 shares during the period. MML Investors Services LLC raised its holdings in shares of Masimo by 4.9% during the third quarter. MML Investors Services LLC now owns 2,056 shares of the medical equipment provider’s stock valued at $274,000 after buying an additional 96 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Masimo by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the medical equipment provider’s stock valued at $2,033,000 after buying an additional 100 shares in the last quarter. 85.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Masimo news, COO Bilal Muhsin sold 30,000 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $167.49, for a total transaction of $5,024,700.00. Following the completion of the transaction, the chief operating officer now owns 24,172 shares in the company, valued at $4,048,568.28. This trade represents a 55.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 9.70% of the company’s stock.

Wall Street Analysts Forecast Growth

MASI has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a report on Wednesday, February 26th. Wells Fargo & Company boosted their price objective on shares of Masimo from $193.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Piper Sandler boosted their price objective on shares of Masimo from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Raymond James raised their target price on shares of Masimo from $170.00 to $194.00 and gave the stock an “outperform” rating in a research note on Friday, December 27th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $190.00 price objective (up from $170.00) on shares of Masimo in a report on Friday, November 22nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $194.80.

Masimo Trading Up 0.7 %

Shares of NASDAQ:MASI opened at $167.67 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01. Masimo Co. has a 52-week low of $101.61 and a 52-week high of $194.88. The company has a 50-day simple moving average of $174.96 and a 200 day simple moving average of $156.95. The company has a market capitalization of $9.05 billion, a P/E ratio of 115.63 and a beta of 1.03.

Masimo (NASDAQ:MASI) last released its earnings results on Tuesday, February 25th. The medical equipment provider reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.38. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The firm had revenue of $600.70 million during the quarter, compared to the consensus estimate of $593.35 million. Sell-side analysts forecast that Masimo Co. will post 4.1 earnings per share for the current 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.