Cinctive Capital Management LP Acquires New Stake in Masimo Co. (NASDAQ:MASI)

Cinctive Capital Management LP bought a new position in Masimo Co. (NASDAQ:MASI) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 25,176 shares of the medical equipment provider’s stock, valued at approximately $4,162,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of Masimo by 119.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,735,167 shares of the medical equipment provider’s stock valued at $286,823,000 after buying an additional 943,001 shares during the period. Alliancebernstein L.P. boosted its position in shares of Masimo by 1,276.9% during the 4th quarter. Alliancebernstein L.P. now owns 947,391 shares of the medical equipment provider’s stock valued at $156,604,000 after purchasing an additional 878,587 shares in the last quarter. Corient Private Wealth LLC raised its holdings in shares of Masimo by 8,847.1% in the 4th quarter. Corient Private Wealth LLC now owns 347,683 shares of the medical equipment provider’s stock worth $57,472,000 after purchasing an additional 343,797 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Masimo during the fourth quarter valued at approximately $33,716,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Masimo by 916.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 216,051 shares of the medical equipment provider’s stock worth $35,713,000 after acquiring an additional 194,788 shares in the last quarter. 85.96% of the stock is owned by institutional investors.

Masimo Trading Up 2.3 %

NASDAQ MASI opened at $171.48 on Thursday. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. Masimo Co. has a 1-year low of $101.61 and a 1-year high of $194.88. The firm’s fifty day simple moving average is $174.47 and its 200-day simple moving average is $162.55. The company has a market capitalization of $9.27 billion, a PE ratio of 118.26 and a beta of 1.04.

Masimo (NASDAQ:MASI) last posted 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 return on equity of 14.98% and a net margin of 3.85%. As a group, sell-side analysts anticipate that Masimo Co. will post 4.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Masimo

In other news, Director Craig B. Reynolds sold 2,053 shares of the firm’s stock in a transaction 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 transaction, the director now owns 16,581 shares in the company, valued at approximately $2,754,601.53. This trade represents a 11.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Bilal Muhsin sold 30,000 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $167.49, for a total transaction of $5,024,700.00. Following the completion of the sale, the chief operating officer now owns 24,172 shares of the company’s stock, valued at $4,048,568.28. This represents a 55.38 % 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.

Analyst Ratings Changes

MASI has been the topic of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a research report on Wednesday, February 26th. Piper Sandler lifted their price target on Masimo from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Raymond James increased their price objective on Masimo from $170.00 to $194.00 and gave the stock an “outperform” rating in a research note on Friday, December 27th. Finally, Wells Fargo & Company lifted their target price on Masimo from $193.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Masimo has an average rating of “Moderate Buy” and a consensus target price of $194.80.

About Masimo

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.