First Citizens Bank & Trust Co. increased its stake in shares of Masimo Corporation (NASDAQ:MASI) by 102.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,787 shares of the medical equipment provider’s stock after buying an additional 2,932 shares during the period. First Citizens Bank & Trust Co.’s holdings in Masimo Corporation were worth $528,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MASI. Cardinal Capital Management increased its position in shares of Masimo Corporation by 0.9% in the first quarter. Cardinal Capital Management now owns 23,481 shares of the medical equipment provider’s stock worth $2,190,000 after buying an additional 198 shares in the last quarter. Dubuque Bank & Trust Co. bought a new position in shares of Masimo Corporation during the first quarter worth approximately $169,000. Glen Harbor Capital Management LLC increased its position in shares of Masimo Corporation by 6.4% in the first quarter. Glen Harbor Capital Management LLC now owns 1,826 shares of the medical equipment provider’s stock worth $170,000 after buying an additional 110 shares in the last quarter. Meritage Portfolio Management bought a new position in shares of Masimo Corporation during the first quarter worth approximately $5,109,000. Finally, Acadian Asset Management LLC increased its position in shares of Masimo Corporation by 45.0% in the first quarter. Acadian Asset Management LLC now owns 1,399,187 shares of the medical equipment provider’s stock worth $130,489,000 after buying an additional 434,389 shares in the last quarter. Institutional investors own 84.39% of the company’s stock.

Shares of Masimo Corporation (NASDAQ:MASI) opened at 85.29 on Monday. The firm has a 50-day moving average price of $93.60 and a 200-day moving average price of $89.40. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 13.98 and a beta of 0.80. Masimo Corporation has a 52 week low of $52.07 and a 52 week high of $104.71.

Masimo Corporation (NASDAQ:MASI) last released its quarterly earnings results on Wednesday, August 2nd. The medical equipment provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.12. Masimo Corporation had a net margin of 45.90% and a return on equity of 23.45%. The company had revenue of $192.90 million during the quarter, compared to the consensus estimate of $189.03 million. During the same period in the previous year, the business earned $0.57 earnings per share. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. On average, equities analysts expect that Masimo Corporation will post $2.80 earnings per share for the current fiscal year.

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A number of equities analysts recently issued reports on the company. BidaskClub cut Masimo Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Stifel Nicolaus reiterated a “buy” rating and issued a $108.00 price objective (up previously from $105.00) on shares of Masimo Corporation in a research report on Thursday. Roth Capital increased their price objective on Masimo Corporation from $96.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Zacks Investment Research upgraded Masimo Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, Wedbush reiterated an “outperform” rating and issued a $112.00 price objective on shares of Masimo Corporation in a research report on Monday, May 22nd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Masimo Corporation has a consensus rating of “Hold” and a consensus price target of $94.00.

In related news, COO Anand Sampath sold 40,000 shares of the business’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $92.00, for a total value of $3,680,000.00. Following the sale, the chief operating officer now owns 20,000 shares of the company’s stock, valued at $1,840,000. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Sanford Fitch sold 6,000 shares of the business’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $91.89, for a total transaction of $551,340.00. Following the completion of the sale, the director now directly owns 89,249 shares in the company, valued at approximately $8,201,090.61. The disclosure for this sale can be found here. Over the last quarter, insiders sold 115,000 shares of company stock valued at $10,773,180. 16.60% of the stock is owned by company insiders.

Masimo Corporation Company Profile

Masimo Corporation is a medical technology company that develops, manufactures and markets a range of non-invasive patient monitoring technologies. The Company’s business is Measure-through Motion and Low Perfusion pulse oximetry monitoring, known as Masimo Signal Extraction Technology (SET) pulse oximetry.

Institutional Ownership by Quarter for Masimo Corporation (NASDAQ:MASI)

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