Insider Weekends: A Once In A Decade Insider Purchase

We first wrote about Masimo Corporation (MASI) over 10 years ago, when the stock was trading at $19.30 per share and shortly after CEO and Chairman Joe Kiani had made his third insider purchase of all time, stating the following: Started in one of the co-founder’s garage, Masimo Corporation is a medical technology company that was founded in 1989 by current Chairman and CEO Joe Kiani. The company develops, manufactures, and markets noninvasive patient monitoring products worldwide. Besides having a founder at the helm more than two decades after the company was started and a technology moat through nearly 600 patents, the company has a history of solid revenue growth, sports operating margins of 22% and return on equity of 23%. This small cap company with an enterprise value of just under $1 billion and $439 million in annual revenue has 2,500 employees and saw product revenue increase 4-fold in the last five years. Much has changed since then, especially with the stock price sitting at around $141.46 as of now, and the company growing significantly. Masimo is now considered a mid-cap company with an enterprise value of $8.25 billion and annual revenue for fiscal year 2021 (ending in January 2022) totaling...

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