Atika Capital Management LLC Takes Position in Masimo Co. (NASDAQ:MASI)

Atika Capital Management LLC purchased a new position in shares of Masimo Co. (NASDAQ:MASI) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 36,800 shares of the medical equipment provider’s stock, valued at approximately $6,083,000.

Several other large investors also recently bought and sold shares of MASI. BNP Paribas Financial Markets grew its position in shares of Masimo by 76.4% in the third quarter. BNP Paribas Financial Markets now owns 19,982 shares of the medical equipment provider’s stock valued at $2,664,000 after purchasing an additional 8,656 shares in the last quarter. Verition Fund Management LLC acquired a new position in Masimo during the third quarter worth $245,000. Centiva Capital LP purchased a new stake in Masimo in the 3rd quarter valued at $678,000. Stifel Financial Corp acquired a new stake in shares of Masimo in the 3rd quarter worth $229,000. Finally, State Street Corp raised its holdings in shares of Masimo by 0.7% during the 3rd quarter. State Street Corp now owns 1,438,814 shares of the medical equipment provider’s stock worth $191,837,000 after acquiring an additional 10,179 shares during the period. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Insider Activity at Masimo

In other Masimo news, COO Bilal Muhsin sold 30,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $167.49, for a total transaction 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 represents a 55.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $341,064.89. Following the completion of the transaction, the director now owns 16,581 shares of the company’s stock, valued at approximately $2,754,601.53. This trade represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.70% of the company’s stock.

Wall Street Analyst Weigh In

MASI has been the subject of a number of analyst reports. Piper Sandler upped their price objective on shares of Masimo from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Wells Fargo & Company increased their price target on shares of Masimo from $193.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Raymond James lifted their price target on shares of Masimo from $170.00 to $194.00 and gave the company an “outperform” rating in a research report on Friday, December 27th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $194.80.

Masimo Price Performance

Shares of MASI opened at $144.40 on Friday. The firm has a 50-day simple moving average of $173.64 and a two-hundred day simple moving average of $163.02. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11. Masimo Co. has a 1-year low of $101.61 and a 1-year high of $194.88. The stock has a market cap of $7.80 billion, a PE ratio of 99.59 and a beta of 1.28.

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