Mckinley Capital Management LLC Delaware raised its stake in Masimo Co. (NASDAQ:MASI) by 4,373.3% in the second quarter, HoldingsChannel.com reports. The fund owned 23,127 shares of the medical equipment provider’s stock after buying an additional 22,610 shares during the quarter. Mckinley Capital Management LLC Delaware’s holdings in Masimo were worth $3,442,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of the business. Financial Gravity Wealth Inc. acquired a new position in Masimo in the second quarter worth approximately $31,000. FinTrust Capital Advisors LLC purchased a new position in Masimo during the 1st quarter worth approximately $61,000. NEXT Financial Group Inc grew its position in Masimo by 172.0% during the 2nd quarter. NEXT Financial Group Inc now owns 544 shares of the medical equipment provider’s stock worth $81,000 after purchasing an additional 344 shares in the last quarter. Penserra Capital Management LLC purchased a new position in Masimo during the 1st quarter worth approximately $92,000. Finally, Advisory Services Network LLC grew its position in Masimo by 2,062.5% during the 1st quarter. Advisory Services Network LLC now owns 865 shares of the medical equipment provider’s stock worth $120,000 after purchasing an additional 825 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.
Shares of Masimo stock traded down $3.84 on Friday, hitting $146.55. 221,005 shares of the company traded hands, compared to its average volume of 390,304. The company has a 50-day moving average price of $152.92 and a 200 day moving average price of $139.72. Masimo Co. has a 12-month low of $98.23 and a 12-month high of $160.25. The company has a market cap of $8.02 billion, a PE ratio of 48.37, a PEG ratio of 2.33 and a beta of 1.14.
Masimo (NASDAQ:MASI) last posted its quarterly earnings results on Wednesday, July 31st. The medical equipment provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.73 by $0.03. Masimo had a net margin of 22.15% and a return on equity of 17.82%. The business had revenue of $229.60 million for the quarter, compared to analysts’ expectations of $222.46 million. During the same period in the previous year, the company posted $0.73 EPS. Masimo’s revenue was up 8.5% on a year-over-year basis. Equities analysts expect that Masimo Co. will post 3.15 EPS for the current fiscal year.
In other news, COO Bilal Muhsin sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $135.00, for a total transaction of $1,350,000.00. Following the transaction, the chief operating officer now directly owns 10,000 shares in the company, valued at approximately $1,350,000. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Sanford Fitch sold 7,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $150.39, for a total transaction of $1,052,730.00. Following the transaction, the director now owns 44,245 shares in the company, valued at $6,654,005.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 258,738 shares of company stock worth $38,858,247. 11.50% of the stock is currently owned by corporate insiders.
Several equities analysts have weighed in on MASI shares. Piper Jaffray Companies lifted their price objective on shares of Masimo from $148.00 to $160.00 in a research report on Friday, May 17th. Needham & Company LLC reiterated a “buy” rating and set a $158.00 price objective (up from $155.00) on shares of Masimo in a research report on Tuesday, May 7th. UBS Group lifted their price objective on shares of Masimo from $172.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. BidaskClub cut shares of Masimo from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 6th. Finally, BTIG Research reiterated a “hold” rating on shares of Masimo in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $159.25.
Masimo Company Profile
Masimo Corporation, a medical technology company, develops, manufactures, and markets noninvasive monitoring technologies 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.
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