Cardinal Capital Management boosted its stake in Masimo Corp. (NASDAQ:MASI) by 4.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,362 shares of the company’s stock after buying an additional 833 shares during the period. Cardinal Capital Management’s holdings in Masimo Corp. were worth $1,069,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the company. Aperio Group LLC raised its stake in Masimo Corp. by 27.3% in the first quarter. Aperio Group LLC now owns 15,761 shares of the company’s stock valued at $659,000 after buying an additional 3,379 shares during the period. Virginia Retirement System purchased a new stake in Masimo Corp. during the first quarter valued at $1,452,000. Pacad Investment Ltd. purchased a new stake in Masimo Corp. during the first quarter valued at $519,000. Los Angeles Capital Management & Equity Research Inc. raised its stake in Masimo Corp. by 0.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 56,685 shares of the company’s stock valued at $2,372,000 after buying an additional 400 shares during the period. Finally, Ngam Advisors L.P. purchased a new stake in Masimo Corp. during the first quarter valued at $461,000. Institutional investors own 79.88% of the company’s stock.
Shares of Masimo Corp. (NASDAQ:MASI) traded up 0.86% during midday trading on Monday, hitting $60.00. 361,215 shares of the company were exchanged. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 31.46 and a beta of 0.70. Masimo Corp. has a one year low of $33.03 and a one year high of $60.52. The firm’s 50 day moving average price is $58.93 and its 200 day moving average price is $50.75.
Masimo Corp. (NASDAQ:MASI) last posted its earnings results on Wednesday, August 3rd. The company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.16. Masimo Corp. had a net margin of 15.40% and a return on equity of 29.07%. The firm had revenue of $172.64 million for the quarter, compared to analyst estimates of $166.02 million. During the same period in the previous year, the firm posted $0.36 EPS. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. Analysts forecast that Masimo Corp. will post $2.02 EPS for the current fiscal year.
MASI has been the topic of several analyst reports. Wedbush reiterated an “outperform” rating and issued a $63.00 target price (up from $60.00) on shares of Masimo Corp. in a report on Thursday, August 4th. BTIG Research reiterated a “hold” rating on shares of Masimo Corp. in a report on Friday, August 5th. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $55.00 price objective (up from $52.00) on shares of Masimo Corp. in a report on Friday, August 5th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $52.60.
In other news, insider Rick Fishel sold 22,000 shares of the company’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $53.85, for a total value of $1,184,700.00. Following the sale, the insider now directly owns 42,022 shares of the company’s stock, valued at approximately $2,262,884.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Joe E. Kiani sold 4,464 shares of the company’s stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $60.01, for a total transaction of $267,884.64. Following the completion of the sale, the chief executive officer now directly owns 123,705 shares in the company, valued at $7,423,537.05. The disclosure for this sale can be found here. Company insiders own 16.60% of the company’s stock.
Masimo Corp. Company Profile
Masimo Corporation is a medical technology company that develops, manufactures and markets non-invasive patient monitoring products. The Company’s business is measure-through-motion and low-perfusion pulse oximetry monitoring, known as Masimo Signal Extraction Technology (SET) pulse oximetry. Its product offerings include monitoring blood constituents with an optical signature, optical organ oximetry monitoring, electrical brain function monitoring, acoustic respiration monitoring and exhaled gas monitoring.
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