Los Angeles Capital Management & Equity Research Inc. Grows Stake in Masimo Co. (MASI)
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.
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.
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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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