Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of Masimo Co. (NASDAQ:MASI) by 26.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,145 shares of the medical equipment provider’s stock after acquiring an additional 29,104 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Masimo were worth $17,080,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MASI. Northwestern Mutual Wealth Management Co. acquired a new stake in Masimo during the second quarter valued at $109,000. US Bancorp DE boosted its position in Masimo by 36.9% during the second quarter. US Bancorp DE now owns 1,980 shares of the medical equipment provider’s stock valued at $193,000 after purchasing an additional 534 shares during the last quarter. Matisse Capital acquired a new stake in Masimo during the second quarter valued at $202,000. BancorpSouth Bank acquired a new stake in Masimo during the second quarter valued at $212,000. Finally, CIBC Asset Management Inc acquired a new stake in Masimo during the third quarter valued at $227,000. 83.22% of the stock is owned by institutional investors and hedge funds.

NASDAQ MASI opened at $115.49 on Friday. Masimo Co. has a fifty-two week low of $80.69 and a fifty-two week high of $126.89. The stock has a market cap of $6.23 billion, a price-to-earnings ratio of 40.39, a P/E/G ratio of 2.76 and a beta of 1.11.

Masimo (NASDAQ:MASI) last posted its earnings results on Wednesday, October 31st. The medical equipment provider reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.02. Masimo had a return on equity of 20.29% and a net margin of 17.08%. The company had revenue of $210.58 million for the quarter, compared to analyst estimates of $207.62 million. During the same period last year, the company earned $0.56 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts anticipate that Masimo Co. will post 2.92 EPS for the current year.

MASI has been the subject of a number of research reports. Zacks Investment Research cut Masimo from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. Stifel Nicolaus lifted their price objective on Masimo from $108.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, August 2nd. BidaskClub raised Masimo from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 17th. Needham & Company LLC initiated coverage on Masimo in a research report on Friday, September 14th. They set a “buy” rating for the company. Finally, Piper Jaffray Companies lifted their price objective on Masimo to $120.00 and gave the company a “neutral” rating in a research report on Thursday, November 1st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $114.40.

In other news, CEO Joe E. Kiani sold 239,926 shares of Masimo stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $117.95, for a total value of $28,299,271.70. Following the transaction, the chief executive officer now directly owns 236,061 shares in the company, valued at $27,843,394.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ramshorst David J. Van sold 1,325 shares of Masimo stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $125.00, for a total value of $165,625.00. Following the completion of the transaction, the insider now owns 2,325 shares in the company, valued at $290,625. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 666,033 shares of company stock worth $79,900,568. Corporate insiders own 12.60% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This news story was originally reported by Daily Political and is owned by of Daily Political. If you are reading this news story on another website, it was stolen and reposted in violation of international copyright laws. The correct version of this news story can be read at https://www.dailypolitical.com/2018/11/10/los-angeles-capital-management-equity-research-inc-grows-stake-in-masimo-co-masi.html.

About Masimo

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.

Featured Article: How to Invest in the Dividend Aristocrat Index

Want to see what other hedge funds are holding MASI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Masimo Co. (NASDAQ:MASI).

Institutional Ownership by Quarter for Masimo (NASDAQ:MASI)

Receive News & Ratings for Masimo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Masimo and related companies with MarketBeat.com's FREE daily email newsletter.