Masimo Co. (NASDAQ:MASI) Stake Raised by Legal & General Group Plc

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Legal & General Group Plc lifted its position in Masimo Co. (NASDAQ:MASI) by 6.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 52,553 shares of the medical equipment provider’s stock after purchasing an additional 3,155 shares during the period. Legal & General Group Plc owned 0.10% of Masimo worth $5,132,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MASI. Wells Fargo & Company MN raised its holdings in Masimo by 26.9% during the 1st quarter. Wells Fargo & Company MN now owns 313,998 shares of the medical equipment provider’s stock worth $27,616,000 after purchasing an additional 66,651 shares during the last quarter. Swiss National Bank raised its holdings in Masimo by 2.1% during the 1st quarter. Swiss National Bank now owns 85,900 shares of the medical equipment provider’s stock worth $7,555,000 after purchasing an additional 1,800 shares during the last quarter. Neuberger Berman Group LLC bought a new stake in Masimo during the 1st quarter worth about $203,000. Cambridge Investment Research Advisors Inc. raised its holdings in Masimo by 239.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,616 shares of the medical equipment provider’s stock worth $1,285,000 after purchasing an additional 10,305 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its holdings in Masimo by 356.5% during the 1st quarter. Eagle Asset Management Inc. now owns 153,875 shares of the medical equipment provider’s stock worth $13,533,000 after purchasing an additional 120,171 shares during the last quarter. Hedge funds and other institutional investors own 83.25% of the company’s stock.

In other Masimo news, insider Ramshorst David J. Van sold 1,325 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $125.00, for a total transaction of $165,625.00. Following the completion of the transaction, the insider now owns 2,325 shares of the company’s stock, valued at approximately $290,625. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sanford Fitch sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $124.50, for a total value of $249,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 765,380 shares of company stock valued at $90,720,456. 12.60% of the stock is owned by company insiders.

NASDAQ MASI traded up $2.51 during trading hours on Friday, reaching $117.13. 379,288 shares of the company’s stock were exchanged, compared to its average volume of 524,720. Masimo Co. has a one year low of $80.69 and a one year high of $126.89. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of 47.81, a PEG ratio of 2.91 and a beta of 1.00.

Masimo (NASDAQ:MASI) last posted its earnings results on Wednesday, August 1st. The medical equipment provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. Masimo had a return on equity of 21.49% and a net margin of 15.30%. The business had revenue of $211.62 million during the quarter, compared to analysts’ expectations of $207.85 million. During the same period in the prior year, the business earned $0.83 EPS. Masimo’s revenue for the quarter was up 10.0% compared to the same quarter last year. Analysts anticipate that Masimo Co. will post 2.9 EPS for the current fiscal year.

A number of analysts have recently commented on MASI shares. BidaskClub cut Masimo from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 30th. Zacks Investment Research cut Masimo from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. Needham & Company LLC started coverage on Masimo in a research note on Friday, September 14th. They issued a “buy” rating for the company. Stifel Nicolaus upped their price target on Masimo from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. Finally, ValuEngine raised Masimo from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $109.20.

Masimo Company Profile

Masimo Corporation, a medical technology company, develops, manufactures, and markets noninvasive monitoring technologies 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.

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Institutional Ownership by Quarter for Masimo (NASDAQ:MASI)

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