Victory Capital Management Inc. Grows Position in Masimo Co. (NASDAQ:MASI)

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Victory Capital Management Inc. increased its stake in Masimo Co. (NASDAQ:MASI) by 2.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 772,181 shares of the medical equipment provider’s stock after purchasing an additional 21,982 shares during the quarter. Victory Capital Management Inc.’s holdings in Masimo were worth $182,281,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MASI. Raymond James Trust N.A. raised its stake in Masimo by 4.8% during the 2nd quarter. Raymond James Trust N.A. now owns 2,584 shares of the medical equipment provider’s stock valued at $589,000 after acquiring an additional 118 shares in the last quarter. Parallel Advisors LLC raised its stake in Masimo by 272.1% during the 2nd quarter. Parallel Advisors LLC now owns 160 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 117 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Masimo by 174.4% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 12,336 shares of the medical equipment provider’s stock valued at $2,812,000 after acquiring an additional 7,841 shares in the last quarter. Redpoint Investment Management Pty Ltd bought a new stake in Masimo during the 2nd quarter valued at $230,000. Finally, Vident Investment Advisory LLC bought a new stake in Masimo during the 2nd quarter valued at $571,000. Hedge funds and other institutional investors own 82.42% of the company’s stock.

Several equities analysts have recently issued reports on MASI shares. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a research report on Tuesday, October 6th. BidaskClub upgraded Masimo from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 6th. Piper Sandler lifted their price target on Masimo from $250.00 to $280.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. Raymond James lifted their price target on Masimo from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Wednesday, October 28th. Finally, Stifel Nicolaus lifted their price target on Masimo from $255.00 to $276.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $246.25.

In related news, CEO Joe E. Kiani sold 52,492 shares of Masimo stock in a transaction on Wednesday, October 7th. The stock was sold at an average price of $250.87, for a total transaction of $13,168,668.04. Following the completion of the sale, the chief executive officer now owns 211,733 shares of the company’s stock, valued at $53,117,457.71. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Thomas Samuel Mcclenahan sold 10,000 shares of Masimo stock in a transaction on Wednesday, October 7th. The shares were sold at an average price of $254.00, for a total value of $2,540,000.00. Following the sale, the executive vice president now directly owns 11,264 shares of the company’s stock, valued at approximately $2,861,056. The disclosure for this sale can be found here. Insiders have sold 175,000 shares of company stock worth $43,575,197 in the last quarter. 11.50% of the stock is currently owned by corporate insiders.

Shares of MASI stock traded up $0.25 on Tuesday, reaching $245.02. 1,017 shares of the company’s stock traded hands, compared to its average volume of 501,495. Masimo Co. has a 12-month low of $143.90 and a 12-month high of $259.29. The company has a market capitalization of $13.48 billion, a P/E ratio of 63.58, a price-to-earnings-growth ratio of 3.60 and a beta of 0.85. The business’s 50 day moving average price is $238.82 and its two-hundred day moving average price is $229.35.

Masimo (NASDAQ:MASI) last issued its quarterly earnings results on Saturday, October 31st. The medical equipment provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.18. Masimo had a return on equity of 15.75% and a net margin of 20.30%. On average, equities research analysts expect that Masimo Co. will post 3.46 EPS for the current year.

About Masimo

Masimo Corporation, a medical technology company, develops, manufactures, and markets noninvasive monitoring technologies and hospital automation 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.

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Institutional Ownership by Quarter for Masimo (NASDAQ:MASI)

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