Kornitzer Capital Management Inc. KS bought a new stake in shares of Masimo Co. (NASDAQ:MASI) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 38,050 shares of the medical equipment provider’s stock, valued at approximately $5,661,000. Kornitzer Capital Management Inc. KS owned 0.07% of Masimo at the end of the most recent reporting period.
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A number of other hedge funds also recently modified their holdings of the stock. A.R.T. Advisors LLC lifted its holdings in Masimo by 163.5% in the 2nd quarter. A.R.T. Advisors LLC now owns 8,381 shares of the medical equipment provider’s stock worth $1,247,000 after buying an additional 5,200 shares during the period. Machina Capital S.A.S. purchased a new stake in Masimo in the 2nd quarter worth approximately $209,000. Bank of New York Mellon Corp lifted its holdings in Masimo by 10.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 694,217 shares of the medical equipment provider’s stock worth $103,312,000 after buying an additional 66,444 shares during the period. OMERS ADMINISTRATION Corp purchased a new stake in Masimo in the 2nd quarter worth approximately $6,290,000. Finally, JPMorgan Chase & Co. raised its position in shares of Masimo by 37.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 127,088 shares of the medical equipment provider’s stock worth $18,520,000 after acquiring an additional 34,473 shares in the last quarter. Institutional investors own 84.20% of the company’s stock.
Several research analysts have recently issued reports on the company. BidaskClub lowered Masimo from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. UBS Group increased their target price on Masimo from $172.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. ValuEngine lowered Masimo from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus increased their target price on Masimo from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, BTIG Research reaffirmed a “hold” rating on shares of Masimo in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $159.25.
In related news, CFO Micah W. Young sold 12,087 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $150.02, for a total value of $1,813,291.74. Following the transaction, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $1,500,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sanford Fitch sold 6,500 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $147.08, for a total transaction of $956,020.00. Following the completion of the transaction, the director now directly owns 50,745 shares in the company, valued at $7,463,574.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,165 shares of company stock worth $4,957,646. Corporate insiders own 11.50% of the company’s stock.
Shares of Masimo stock traded up $3.31 on Friday, reaching $149.77. The company’s stock had a trading volume of 220,100 shares, compared to its average volume of 303,169. The firm’s fifty day simple moving average is $145.76 and its two-hundred day simple moving average is $146.55. Masimo Co. has a 52 week low of $98.23 and a 52 week high of $160.25. The company has a market capitalization of $7.81 billion, a price-to-earnings ratio of 49.43, a P/E/G ratio of 2.01 and a beta of 1.14.
Masimo (NASDAQ:MASI) last posted its earnings results on Wednesday, October 30th. The medical equipment provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.03. Masimo had a net margin of 20.83% and a return on equity of 17.32%. The business had revenue of $229.01 million for the quarter, compared to analyst estimates of $221.92 million. During the same period in the prior year, the company posted $0.71 EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, analysts expect that Masimo Co. will post 3.17 EPS for the current fiscal year.
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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