Emerald Acquisition Ltd. purchased a new stake in shares of Masimo Corp. (NASDAQ:MASI) during the second quarter, Holdings Channel reports. The institutional investor purchased 47,999 shares of the company’s stock, valued at approximately $2,521,000. Emerald Acquisition Ltd. owned about 0.10% of Masimo Corp. at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. Quantbot Technologies LP bought a new position in shares of Masimo Corp. during the second quarter valued at $155,000. Diversified Trust Co bought a new position in shares of Masimo Corp. during the second quarter valued at $215,000. Societe Generale bought a new position in shares of Masimo Corp. during the second quarter valued at $276,000. Pitcairn Co. bought a new position in shares of Masimo Corp. during the second quarter valued at $330,000. Finally, Eqis Capital Management Inc. increased its position in shares of Masimo Corp. by 21.5% in the second quarter. Eqis Capital Management Inc. now owns 7,012 shares of the company’s stock valued at $368,000 after buying an additional 1,241 shares during the last quarter. Hedge funds and other institutional investors own 79.88% of the company’s stock.
Masimo Corp. (NASDAQ:MASI) traded up 0.79% during midday trading on Tuesday, hitting $59.63. The company had a trading volume of 215,039 shares. The stock has a 50 day moving average price of $58.68 and a 200-day moving average price of $50.33. Masimo Corp. has a 52 week low of $33.03 and a 52 week high of $60.52. The stock has a market capitalization of $2.94 billion, a PE ratio of 31.27 and a beta of 0.80.
Masimo Corp. (NASDAQ:MASI) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.16. Masimo Corp. had a return on equity of 29.07% and a net margin of 15.40%. The company earned $172.64 million during the quarter, compared to analysts’ expectations of $166.02 million. During the same quarter in the previous year, the business earned $0.36 EPS. Masimo Corp.’s revenue was up 10.9% compared to the same quarter last year. On average, equities analysts predict that Masimo Corp. will post $2.02 EPS for the current year.
MASI has been the subject of several analyst reports. BTIG Research restated a “hold” rating on shares of Masimo Corp. in a report on Friday, August 5th. Wedbush restated an “outperform” rating and set a $63.00 price target (up from $60.00) on shares of Masimo Corp. in a report on Thursday, August 4th. Raymond James Financial Inc. downgraded Masimo Corp. from a “strong-buy” rating to an “outperform” rating in a report on Wednesday, June 1st. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $55.00 price target (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 assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $52.60.
In related news, insider Rick Fishel sold 22,000 shares of the business’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $53.85, for a total transaction of $1,184,700.00. Following the completion of the transaction, the insider now owns 42,022 shares in the company, valued at approximately $2,262,884.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joe E. Kiani sold 49,484 shares of the business’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $60.18, for a total value of $2,977,947.12. Following the transaction, the chief executive officer now owns 158,911 shares of the company’s stock, valued at approximately $9,563,263.98. The disclosure for this sale can be found here. Corporate insiders own 16.60% of the company’s stock.
About Masimo Corp.
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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