ClariVest Asset Management LLC increased its stake in Masimo Corp. (NASDAQ:MASI) by 16.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,275 shares of the company’s stock after buying an additional 8,628 shares during the period. ClariVest Asset Management LLC’s holdings in Masimo Corp. were worth $3,271,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. Cardinal Capital Management increased its stake in Masimo Corp. by 4.3% in the second quarter. Cardinal Capital Management now owns 20,362 shares of the company’s stock valued at $1,069,000 after buying an additional 833 shares during the last quarter. Diversified Trust Co bought a new stake in Masimo Corp. during the second quarter valued at $215,000. Smith Asset Management Group LP bought a new stake in Masimo Corp. during the second quarter valued at $1,370,000. Pitcairn Co. bought a new stake in Masimo Corp. during the second quarter valued at $330,000. Finally, Bank of Montreal Can bought a new stake in Masimo Corp. during the second quarter valued at $939,000. 79.88% of the stock is owned by institutional investors.
Masimo Corp. (NASDAQ:MASI) traded up 0.20% on Friday, reaching $59.97. 338,605 shares of the company’s stock were exchanged. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 31.45 and a beta of 0.70. Masimo Corp. has a 12 month low of $33.03 and a 12 month high of $60.52. The firm has a 50-day moving average of $59.11 and a 200-day moving average of $51.48.
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, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.16. The business earned $172.64 million during the quarter, compared to the consensus estimate of $166.02 million. Masimo Corp. had a net margin of 15.40% and a return on equity of 29.07%. Masimo Corp.’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 EPS. On average, equities analysts expect that Masimo Corp. will post $2.02 earnings per share for the current year.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Masimo Corp. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 4th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $55.00 price target (up from $52.00) on shares of Masimo Corp. in a report on Friday, August 5th. BTIG Research reaffirmed a “hold” rating on shares of Masimo Corp. in a report on Friday, August 5th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $63.00 price target (up from $60.00) on shares of Masimo Corp. in a report on Thursday, August 4th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $52.60.
In related news, CEO Joe E. Kiani sold 49,484 shares of the company’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $60.18, for a total transaction of $2,977,947.12. Following the completion of the transaction, the chief executive officer now directly owns 158,911 shares in the company, valued at approximately $9,563,263.98. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sanford Fitch sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $52.62, for a total transaction of $105,240.00. Following the transaction, the director now owns 56,000 shares of the company’s stock, valued at $2,946,720. 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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