Logan Capital Management Inc. Reduces Holdings in Masimo Corporation $MASI

Logan Capital Management Inc. reduced its holdings in shares of Masimo Corporation (NASDAQ:MASI) by 11.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 42,395 shares of the medical equipment provider’s stock after selling 5,392 shares during the period. Logan Capital Management Inc.’s holdings in Masimo were worth $7,063,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Twin Tree Management LP purchased a new stake in shares of Masimo during the first quarter worth about $29,000. Farther Finance Advisors LLC lifted its stake in shares of Masimo by 128.9% during the first quarter. Farther Finance Advisors LLC now owns 206 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 116 shares during the period. NBC Securities Inc. purchased a new position in shares of Masimo during the first quarter valued at approximately $61,000. UMB Bank n.a. boosted its position in Masimo by 134.0% during the first quarter. UMB Bank n.a. now owns 447 shares of the medical equipment provider’s stock worth $74,000 after acquiring an additional 256 shares during the last quarter. Finally, Quarry LP grew its stake in Masimo by 253.5% in the 1st quarter. Quarry LP now owns 449 shares of the medical equipment provider’s stock worth $75,000 after acquiring an additional 322 shares during the period. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MASI. BTIG Research reissued a “buy” rating on shares of Masimo in a research note on Thursday, August 14th. Zacks Research upgraded Masimo from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. Piper Sandler raised their price objective on Masimo from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 6th. Finally, Wall Street Zen cut Masimo from a “buy” rating to a “hold” rating in a report on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $193.60.

Masimo Price Performance

MASI opened at $148.79 on Tuesday. The company’s 50 day simple moving average is $154.02 and its 200 day simple moving average is $159.99. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.61 and a current ratio of 2.14. Masimo Corporation has a 1 year low of $107.98 and a 1 year high of $194.88. The stock has a market capitalization of $8.08 billion, a PE ratio of -17.46 and a beta of 1.23.

Masimo (NASDAQ:MASI) last released its earnings results on Tuesday, August 5th. The medical equipment provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.11. Masimo had a negative net margin of 24.85% and a positive return on equity of 26.54%. The business had revenue of $370.90 million for the quarter, compared to analysts’ expectations of $368.65 million. During the same period last year, the company earned $0.86 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts expect that Masimo Corporation will post 4.1 EPS for the current year.

Insider Activity

In related news, Director William R. Jellison bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were acquired at an average cost of $145.98 per share, with a total value of $437,940.00. Following the completion of the transaction, the director owned 4,790 shares of the company’s stock, valued at approximately $699,244.20. The trade was a 167.60% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 9.70% of the company’s stock.

Masimo Company Profile

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.