Texas Permanent School Fund Corp Increases Stock Position in Masimo Co. (NASDAQ:MASI)

Texas Permanent School Fund Corp boosted its stake in shares of Masimo Co. (NASDAQ:MASI) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,847 shares of the medical equipment provider’s stock after buying an additional 547 shares during the quarter. Texas Permanent School Fund Corp owned 0.07% of Masimo worth $5,705,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MASI. Comerica Bank purchased a new position in Masimo during the third quarter worth about $8,454,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of Masimo by 93.8% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 16,541 shares of the medical equipment provider’s stock worth $1,450,000 after purchasing an additional 8,004 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Masimo by 140.6% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 243 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 142 shares in the last quarter. Raymond James Trust N.A. lifted its position in shares of Masimo by 14.2% during the fourth quarter. Raymond James Trust N.A. now owns 5,114 shares of the medical equipment provider’s stock worth $599,000 after purchasing an additional 634 shares in the last quarter. Finally, Handelsinvest Investeringsforvaltning acquired a new stake in shares of Masimo during the fourth quarter worth about $380,000. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Insider Transactions at Masimo

In related news, Director Craig B. Reynolds sold 40,000 shares of Masimo stock in a transaction on Friday, April 26th. The shares were sold at an average price of $136.17, for a total value of $5,446,800.00. Following the transaction, the director now directly owns 7,406 shares in the company, valued at approximately $1,008,475.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 9.70% of the company’s stock.

Masimo Stock Performance

Shares of MASI traded up $2.74 during mid-day trading on Friday, reaching $114.05. 64,866 shares of the company’s stock were exchanged, compared to its average volume of 634,526. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.31 and a quick ratio of 1.31. The stock has a market capitalization of $6.07 billion, a PE ratio of 75.72 and a beta of 0.97. The business’s fifty day simple moving average is $124.94 and its 200-day simple moving average is $128.84. Masimo Co. has a 52-week low of $75.22 and a 52-week high of $153.93.

Masimo (NASDAQ:MASI) last announced its earnings results on Tuesday, May 7th. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The business had revenue of $492.80 million for the quarter, compared to analyst estimates of $487.70 million. Masimo had a net margin of 4.01% and a return on equity of 13.26%. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period last year, the firm posted $0.87 earnings per share. On average, equities research analysts expect that Masimo Co. will post 3.63 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a research report on Tuesday. Wells Fargo & Company raised shares of Masimo from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $117.00 to $160.00 in a research report on Monday, March 25th. StockNews.com raised shares of Masimo from a “sell” rating to a “hold” rating in a report on Friday, March 29th. BTIG Research raised their target price on shares of Masimo from $145.00 to $166.00 and gave the company a “buy” rating in a report on Monday, March 25th. Finally, Piper Sandler raised shares of Masimo from a “neutral” rating to an “overweight” rating and raised their target price for the company from $126.00 to $160.00 in a report on Monday, June 3rd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Masimo currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.57.

Masimo Profile

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.