PNC Financial Services Group Inc. boosted its stake in shares of Masimo Corp. (NASDAQ:MASI) by 12.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,259 shares of the company’s stock after buying an additional 1,489 shares during the period. PNC Financial Services Group Inc.’s holdings in Masimo Corp. were worth $696,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Masimo Corp. during the fourth quarter valued at about $20,667,000. First Republic Investment Management Inc. purchased a new stake in shares of Masimo Corp. during the first quarter valued at about $12,638,000. Henderson Group PLC increased its stake in shares of Masimo Corp. by 57.6% in the second quarter. Henderson Group PLC now owns 725,066 shares of the company’s stock valued at $38,077,000 after buying an additional 265,011 shares during the period. Columbus Circle Investors purchased a new stake in shares of Masimo Corp. during the second quarter valued at about $9,000,000. Finally, Acadian Asset Management LLC increased its stake in shares of Masimo Corp. by 45,388.1% in the second quarter. Acadian Asset Management LLC now owns 122,818 shares of the company’s stock valued at $6,450,000 after buying an additional 122,548 shares during the period. 79.88% of the stock is owned by institutional investors.
Shares of Masimo Corp. (NASDAQ:MASI) traded up 0.91% during trading on Wednesday, reaching $59.85. The company had a trading volume of 168,602 shares. The stock has a 50 day moving average price of $58.11 and a 200 day moving average price of $49.69. The firm has a market capitalization of $2.95 billion, a PE ratio of 31.38 and a beta of 0.80. Masimo Corp. has a 12 month low of $33.03 and a 12 month high of $60.46.
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 Thomson Reuters’ 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 firm earned $172.64 million during the quarter, compared to analyst estimates of $166.02 million. During the same period in the previous year, the company earned $0.36 EPS. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, equities research analysts forecast that Masimo Corp. will post $2.02 EPS for the current year.
Several analysts have issued reports on MASI shares. Wedbush reaffirmed an “outperform” rating and issued a $63.00 price objective (up previously from $60.00) on shares of Masimo Corp. in a research report on Thursday, August 4th. Piper Jaffray Cos. reissued an “overweight” rating and set a $55.00 price target (up previously from $52.00) on shares of Masimo Corp. in a research report on Friday, August 5th. BTIG Research reissued a “hold” rating on shares of Masimo Corp. in a research report on Friday, August 5th. Finally, Raymond James Financial Inc. downgraded shares of Masimo Corp. from a “strong-buy” rating to an “outperform” rating in a research report on Wednesday, June 1st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $52.60.
In related news, CAO Ramshorst David J. Van sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $52.50, for a total value of $262,500.00. Following the completion of the sale, the chief accounting officer now directly owns 3,000 shares in the company, valued at approximately $157,500. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Joe E. Kiani sold 33,536 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $60.00, for a total value of $2,012,160.00. Following the completion of the sale, the chief executive officer now owns 152,777 shares of the company’s stock, valued at $9,166,620. The disclosure for this sale can be found here. 16.60% of the stock is owned by corporate insiders.
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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