Envestnet Portfolio Solutions Inc. Purchases New Position in Masimo Co. (NASDAQ:MASI)

Envestnet Portfolio Solutions Inc. acquired a new position in Masimo Co. (NASDAQ:MASI) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,505 shares of the medical equipment provider’s stock, valued at approximately $249,000.

Several other institutional investors have also modified their holdings of the business. Jones Financial Companies Lllp acquired a new position in Masimo in the fourth quarter worth $27,000. UMB Bank n.a. raised its stake in Masimo by 180.9% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the medical equipment provider’s stock worth $32,000 after acquiring an additional 123 shares during the period. Trust Co. of Vermont bought a new position in Masimo in the fourth quarter worth about $33,000. Blue Trust Inc. grew its holdings in shares of Masimo by 56.3% during the fourth quarter. Blue Trust Inc. now owns 197 shares of the medical equipment provider’s stock valued at $33,000 after purchasing an additional 71 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Masimo by 40.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 224 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 85.96% of the company’s stock.

Wall Street Analysts Forecast Growth

MASI has been the topic of a number of recent analyst reports. Raymond James lifted their price objective on shares of Masimo from $170.00 to $194.00 and gave the company an “outperform” rating in a research note on Friday, December 27th. Piper Sandler increased their price objective on shares of Masimo from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a report on Wednesday, February 26th. Finally, Wells Fargo & Company increased their price objective on Masimo from $193.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Masimo has an average rating of “Moderate Buy” and an average target price of $194.80.

Insiders Place Their Bets

In other Masimo news, COO Bilal Muhsin sold 30,000 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $167.49, for a total value of $5,024,700.00. Following the completion of the transaction, the chief operating officer now directly owns 24,172 shares of the company’s stock, valued at approximately $4,048,568.28. The trade was a 55.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Craig B. Reynolds sold 2,053 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $166.13, for a total value of $341,064.89. Following the completion of the transaction, the director now owns 16,581 shares of the company’s stock, valued at $2,754,601.53. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.70% of the company’s stock.

Masimo Trading Down 2.9 %

Shares of MASI stock opened at $163.55 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. Masimo Co. has a 1 year low of $101.61 and a 1 year high of $194.88. The firm’s fifty day simple moving average is $174.79 and its 200 day simple moving average is $161.06. The firm has a market capitalization of $8.82 billion, a P/E ratio of 112.79 and a beta of 1.04.

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, topping analysts’ consensus estimates of $1.42 by $0.38. The business had revenue of $600.70 million for the quarter, compared to the consensus estimate of $593.35 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. As a group, sell-side analysts predict that Masimo Co. will post 4.1 EPS for the current 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.