The Manufacturers Life Insurance Company Acquires 6,324 Shares of Masimo Co. (NASDAQ:MASI)

The Manufacturers Life Insurance Company raised its holdings in Masimo Co. (NASDAQ:MASI) by 5.3% in the third quarter, Holdings Channel reports. The firm owned 125,227 shares of the medical equipment provider’s stock after purchasing an additional 6,324 shares during the period. The Manufacturers Life Insurance Company’s holdings in Masimo were worth $29,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the business. BlackRock Inc. grew its stake in Masimo by 6.2% in the 3rd quarter. BlackRock Inc. now owns 7,898,232 shares of the medical equipment provider’s stock valued at $1,864,456,000 after purchasing an additional 458,222 shares during the period. Vanguard Group Inc. grew its stake in Masimo by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 4,587,596 shares of the medical equipment provider’s stock valued at $1,045,926,000 after purchasing an additional 15,330 shares during the period. Victory Capital Management Inc. grew its stake in Masimo by 2.9% in the 3rd quarter. Victory Capital Management Inc. now owns 772,181 shares of the medical equipment provider’s stock valued at $182,281,000 after purchasing an additional 21,982 shares during the period. Neuberger Berman Group LLC lifted its position in shares of Masimo by 161.4% during the 2nd quarter. Neuberger Berman Group LLC now owns 627,478 shares of the medical equipment provider’s stock valued at $143,029,000 after buying an additional 387,423 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Masimo by 291.2% during the 3rd quarter. California Public Employees Retirement System now owns 422,976 shares of the medical equipment provider’s stock valued at $99,848,000 after buying an additional 314,843 shares during the last quarter. Hedge funds and other institutional investors own 82.42% of the company’s stock.

Shares of MASI opened at $247.96 on Friday. The stock’s 50-day simple moving average is $239.99 and its 200 day simple moving average is $229.95. The stock has a market capitalization of $13.65 billion, a price-to-earnings ratio of 64.41, a price-to-earnings-growth ratio of 3.60 and a beta of 0.85. Masimo Co. has a 52-week low of $143.90 and a 52-week high of $259.29.

Masimo (NASDAQ:MASI) last announced its earnings results on Saturday, October 31st. The medical equipment provider reported $0.80 earnings per share for the quarter, topping 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%. As a group, research analysts predict that Masimo Co. will post 3.46 earnings per share for the current year.

A number of research analysts have recently commented on MASI shares. Robert W. Baird started coverage on Masimo in a research report on Tuesday, September 1st. They set an “outperform” rating and a $260.00 price target on the stock. Raymond James upped 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. Zacks Investment Research cut Masimo from a “buy” rating to a “hold” rating and set a $258.00 price target on the stock. in a research report on Thursday, October 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research report on Tuesday, October 6th. Finally, Piper Sandler increased their price objective on Masimo from $250.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, October 28th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $246.25.

In other Masimo news, CFO Micah W. Young sold 10,000 shares of the company’s stock in a transaction dated Monday, October 19th. The stock was sold at an average price of $239.00, for a total value of $2,390,000.00. Following the transaction, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $2,390,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Craig B. Reynolds sold 20,000 shares of the company’s stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $240.11, for a total value of $4,802,200.00. Following the completion of the transaction, the director now owns 14,300 shares in the company, valued at $3,433,573. The disclosure for this sale can be found here. Insiders sold a total of 175,000 shares of company stock worth $43,575,197 over the last 90 days. Corporate insiders own 11.50% of the company’s stock.

Masimo Profile

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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