Invesco Ltd. Has $45.95 Million Stake in Masimo Co. (NASDAQ:MASI)

Invesco Ltd. grew its holdings in shares of Masimo Co. (NASDAQ:MASI) by 226.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 277,960 shares of the medical equipment provider’s stock after acquiring an additional 192,802 shares during the quarter. Invesco Ltd.’s holdings in Masimo were worth $45,947,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC increased its holdings in Masimo by 19.8% in the fourth quarter. FMR LLC now owns 8,097,454 shares of the medical equipment provider’s stock worth $1,338,509,000 after purchasing an additional 1,340,836 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Masimo by 119.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,735,167 shares of the medical equipment provider’s stock worth $286,823,000 after buying an additional 943,001 shares during the period. Alliancebernstein L.P. increased its stake in shares of Masimo by 1,276.9% in the 4th quarter. Alliancebernstein L.P. now owns 947,391 shares of the medical equipment provider’s stock valued at $156,604,000 after acquiring an additional 878,587 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of Masimo by 8,847.1% during the 4th quarter. Corient Private Wealth LLC now owns 347,683 shares of the medical equipment provider’s stock valued at $57,472,000 after acquiring an additional 343,797 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Masimo during the fourth quarter worth $33,716,000. 85.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research note on Thursday, April 10th. Wells Fargo & Company upped their price target on Masimo from $193.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Piper Sandler raised their price objective on Masimo from $210.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, Raymond James upped their target price on Masimo from $170.00 to $194.00 and gave the stock an “outperform” rating in a research report on Friday, December 27th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.80.

Insider Activity at Masimo

In related news, COO Bilal Muhsin sold 30,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $167.49, for a total transaction of $5,024,700.00. Following the completion of the sale, the chief operating officer now directly owns 24,172 shares of the company’s stock, valued at approximately $4,048,568.28. This trade represents a 55.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Craig B. Reynolds sold 2,053 shares of Masimo stock in a transaction on Friday, March 14th. The stock was sold at an average price of $166.13, for a total value of $341,064.89. Following the sale, the director now owns 16,581 shares in the company, valued at $2,754,601.53. This trade represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.90% of the stock is owned by insiders.

Masimo Stock Performance

Shares of MASI opened at $152.06 on Wednesday. The firm has a market capitalization of $8.22 billion, a P/E ratio of 104.87 and a beta of 1.28. Masimo Co. has a 52 week low of $101.61 and a 52 week high of $194.88. The stock has a 50 day moving average price of $169.55 and a two-hundred day moving average price of $164.54. 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 (NASDAQ:MASI) last announced its quarterly earnings results on Tuesday, February 25th. The medical equipment provider reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.38. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The business had revenue of $600.70 million during the quarter, compared to the consensus estimate of $593.35 million. Equities analysts forecast that Masimo Co. will post 4.1 earnings per share for the current fiscal year.

Masimo 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.