Envestnet Portfolio Solutions Inc. Acquires Shares of 1,505 Masimo Co. (NASDAQ:MASI)

Envestnet Portfolio Solutions Inc. bought a new position in shares of Masimo Co. (NASDAQ:MASI) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,505 shares of the medical equipment provider’s stock, valued at approximately $249,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MASI. Jones Financial Companies Lllp acquired a new stake in Masimo during the 4th quarter valued at $27,000. UMB Bank n.a. raised its position in shares of Masimo by 180.9% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 123 shares during the period. Trust Co. of Vermont bought a new stake in shares of Masimo during the 4th quarter worth about $33,000. Blue Trust Inc. grew its stake in Masimo by 56.3% in the 4th quarter. Blue Trust Inc. now owns 197 shares of the medical equipment provider’s stock valued at $33,000 after buying an additional 71 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Masimo by 40.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 224 shares of the medical equipment provider’s stock valued at $37,000 after acquiring an additional 64 shares during the period. 85.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, COO Bilal Muhsin sold 30,000 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $167.49, for a total value of $5,024,700.00. Following the completion of the transaction, the chief operating officer now owns 24,172 shares of the company’s stock, valued at approximately $4,048,568.28. This represents a 55.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig B. Reynolds sold 2,053 shares of Masimo stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $166.13, for a total transaction of $341,064.89. Following the sale, the director now directly owns 16,581 shares in the company, valued at $2,754,601.53. This trade represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.70% of the company’s stock.

Masimo Stock Down 2.9 %

MASI stock opened at $163.55 on Friday. The company has a market cap of $8.82 billion, a PE ratio of 112.79 and a beta of 1.04. The company has a quick ratio of 1.11, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. Masimo Co. has a 52 week low of $101.61 and a 52 week high of $194.88. The business has a 50-day simple moving average of $174.79 and a 200 day simple moving average of $161.06.

Masimo (NASDAQ:MASI) last issued its quarterly earnings results on Tuesday, February 25th. The medical equipment provider reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.38. The company had revenue of $600.70 million during the quarter, compared to the consensus estimate of $593.35 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. Sell-side analysts anticipate that Masimo Co. will post 4.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on MASI shares. Wells Fargo & Company increased their target price on Masimo from $193.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Piper Sandler lifted their target price on Masimo from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Raymond James upped their price target on shares of Masimo from $170.00 to $194.00 and gave the company an “outperform” rating in a research note on Friday, December 27th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Masimo currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.80.

Masimo Profile

Masimo Corporation develops, manufactures, and markets various patient monitoring technologies, and automation and connectivity solutions worldwide. The company offers masimo signal extraction technology (SET) pulse oximetry with measure-through motion and low perfusion pulse oximetry monitoring to address the primary limitations of conventional pulse oximetry; Masimo rainbow SET platform, including rainbow SET Pulse CO-Oximetry products that allows noninvasive monitoring of carboxyhemoglobin, methemoglobin, hemoglobin concentration, fractional arterial oxygen saturation, oxygen content, pleth variability index, rainbow pleth variability index, respiration rate from the pleth, and oxygen reserve index, as well as acoustic respiration monitoring, SedLine brain function monitoring, NomoLine capnography and gas monitoring, and regional oximetry.