Fidelity Management & Research Co recently announced the acquisition of new stake in Masimo Corporation (NASDAQ:MASI). The institutional investor has increased its shareholding in the Healthcare company by 79.90% to 3.57 million shares with purchase of 1.58 million shares. This fresh investment now brings its stake to 6.78% valued currently at $516.75 million. In addition, RTW Investments LP raised its holdings by 89000.0 to 1.44 million shares. And Fundsmith LLP has lifted its position by 1.17% or 8848.0 shares – to 0.77 million shares.
With over 0.45 million Masimo Corporation (MASI) shares trading Tuesday and a closing price of $153.45 on the day, the dollar volume was approximately $69.13 million. The shares have shown a positive half year performance of 16.74% and its price on 01/10/23 lost nearly -0.77%. Currently, there are 52.50M common shares owned by the public and among those 48.15M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for MASI have a consensus price objective of $165.29. The analysts have set the share’s price value over the next 12 months at a high of $180.00 and a low of $135.00. The average price target is 7.16% above its recent price level and a downside to the estimated low will see the stock lose -13.67% over that period. But an upside of 14.75% will see the stock hit the forecast high price target while median target price for the stock is $170.00.
Insiders at the company have transacted a total of 18 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 16 of these insider trades were purchases, accounting for 173,706 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 1,200 shares.
The top 3 mutual fund holders in Masimo Corporation are Fidelity Select Medical Technolog, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market Index. Fidelity Select Medical Technolog owns 1.6 million shares of the company’s stock, all valued at over $231.85 million. The company bought an additional 99600.0 shares recently to bring their total holdings to about 3.04% of the shares outstanding. iShares Core S&P Mid Cap ETF sold 281.0 shares to see its total holdings shrink to 1.47 million shares valued at over $212.92 million and representing 2.80% of the shares outstanding. Vanguard Total Stock Market Index bought 6508.0 shares to bring its total holdings to over 1.43 million shares at a value of $206.68 million. Vanguard Total Stock Market Index now owns shares totaling to 2.71% of the shares outstanding.
Shares of Masimo Corporation (NASDAQ: MASI) opened at $154.50, down -$0.14 from a prior closing price of $154.64. However, the script later moved the day high at 155.01, down -0.77%. The company’s stock has a 5-day price change of 5.08% and 17.73% over the past three months. MASI shares are trading 3.72% year to date (YTD), with the 12-month market performance down to -39.59% lower. It has a 12-month low price of $108.89 and touched a high of $262.28 over the same period. MASI has an average intraday trading volume of 605.81K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.52%, 10.21%, and 9.62% respectively.
Institutional ownership of Masimo Corporation (NASDAQ: MASI) shares accounts for 90.50% of the company’s 52.50M shares outstanding. Mutual fund holders own 46.06%, while other institutional holders and individual stakeholders account for 9.86% and 44.20% respectively.
It has a market capitalization of $7.92B and a beta (3y monthly) value of 0.84. The stock’s trailing 12-month PE ratio is 50.78, while the earnings-per-share (ttm) stands at $3.02. The company has a PEG of 4.27 and a Quick Ratio of 1.30 with the debt-to-equity ratio at 0.77. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.67% over the week and 2.91% over the month.
Analysts forecast that Masimo Corporation (MASI) will achieve an EPS of $0.92 for the current quarter, $1.25 for the next quarter and $5.09 for 2023. The lowest estimate earnings-per-share for the quarter is $0.88 while analysts give the company a high EPS estimate of $0.96. Comparatively, EPS for the current quarter was $0.94 a year ago. Earnings per share for the fiscal year are expected to decrease by -3.80%, and -1.17% over the next financial year. EPS should grow at an annualized rate of 11.90% over the next five years, compared to -7.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Masimo Corporation (MASI) as a “Strong Buy” at a consensus score of 1.70. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 2 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the MASI, a number of firms have released research notes about the stock. BTIG Research stated their Buy rating for the stock in a research note on December 15, 2022, with the firm’s price target at $180. Needham coverage for the Masimo Corporation (MASI) stock in a research note released on December 05, 2022 offered a Buy rating with a price target of $173. Jefferies was of a view on October 12, 2022 that the stock is Buy, while Wolfe Research gave the stock Outperform rating on September 15, 2022, issuing a price target of $165. Loop Capital on their part issued Buy rating on September 14, 2022.