Cinctive Capital Management LP Invests $4.16 Million in Masimo Co. (NASDAQ:MASI)

Cinctive Capital Management LP bought a new stake in Masimo Co. (NASDAQ:MASI) in the 4th 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.

A number of other large investors have also added to or reduced their stakes in MASI. Massachusetts Financial Services Co. MA boosted its position in Masimo by 119.0% in the 4th 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 last quarter. Geode Capital Management LLC boosted its holdings in Masimo by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 801,125 shares of the medical equipment provider’s stock valued at $132,465,000 after purchasing an additional 8,239 shares during the last quarter. Franklin Resources Inc. grew its stake in Masimo by 73.8% during the 4th quarter. Franklin Resources Inc. now owns 2,925 shares of the medical equipment provider’s stock valued at $484,000 after purchasing an additional 1,242 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Masimo by 1,276.9% during the 4th quarter. Alliancebernstein L.P. now owns 947,391 shares of the medical equipment provider’s stock worth $156,604,000 after purchasing an additional 878,587 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC acquired a new position in shares of Masimo in the 4th quarter valued at approximately $5,186,000. 85.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Masimo

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

Masimo Trading Up 2.3 %

NASDAQ MASI opened at $171.48 on Thursday. The firm has a market capitalization of $9.27 billion, a PE ratio of 118.26 and a beta of 1.04. Masimo Co. has a one year low of $101.61 and a one year high of $194.88. The company has a 50-day simple moving average of $174.47 and a 200-day simple moving average of $162.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01.

Masimo (NASDAQ:MASI) last posted its earnings results on Tuesday, February 25th. The medical equipment provider reported $1.80 EPS for the quarter, beating the consensus estimate of $1.42 by $0.38. The company had revenue of $600.70 million during the quarter, compared to analyst estimates of $593.35 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. On average, equities analysts forecast that Masimo Co. will post 4.1 earnings per share for the current year.

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.