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Masimo Corporation (MASI): Camber Capital Management Ups Passive Position to 5.5%

Stephen DuBois‘ Camber Capital Management has reported raising its passive position in Masimo Corporation (NASDAQ:MASI). As a new filing with the Securities and Exchange Commission showed, Camber Capital currently owns 2.85 million shares of Masimo, up from 1.82 million shares the fund reported in its latest 13F filing. The stake amasses 5.44% of Masimo’s outstanding common stock.

Masimo Corporation (NASDAQ:MASI)

Camber Capital holds an equity portfolio worth over $1.50 billion, which is primarily invested in healthcare stocks. A couple of weeks ago, Camber reported increasing its position in Universal American Corporation (NYSE:UAM), of which it owns more than 4.56 million shares, versus 4.17 million shares held previously. The stock gained around 11% since Camber raised its position, and rose by 21% year-to-date. The fund has also made several other acquisitions, such as raising its position in Volcano Corporation (NASDAQ:VOLC) at the end of September, by 1.90 million shares to 5.05 million shares, while the stock lost some 4% since then and slid by more than 50% since the beginning of the year. In Orthofix International NV (NASDAQ:OFIX), Camber boosted its stake to 1.20 million shares in September from 118,700 shares, following which, the stock declined by 8%, although year-to-date it advanced by 27%.

The fund managed by Mr. DuBois has been a shareholder of Masimo Corporation (NASDAQ:MASI) for more than two years. The stake was initiated during the last quarter of 2011 and initially contained 1.0 million shares, while Masimo’s stock jumped by 39% since the end of 2011. The healthcare company is engaged in development, manufacturing and sale of patient monitoring products. The company has been reporting a growth in financial results with revenue for the third quarter of 2014 growing to $144 million, from $131 million for the same period of last year, while net income amounted to $0.27 per share, flat on the year.

Moreover, while Masimo Corporation (NASDAQ:MASI)’s stake in Camber’s equity portfolio amasses almost 3% of the total portfolio value, other investors commited smaller amounts to the company. For example, Peter Rathjens, Bruce Clarke and John Campbell‘s Arrowstreet Capital reported ownership of 331,600 shares as of the end of June, up by 120% on the quarter, but the holding amasses only 0.01% of the equity portfolio.

However, to understand Masimo Corporation (NASDAQ:MASI)’s value for a smaller investor requires more research. The stock currently trades at $26.00, which is close to its consensus target price set by analysts. TheStreet has recently upgraded the stock to ‘Buy’ from ‘Hold’, although the majority of analysts still recommend holding the stock.

Disclosure: none

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