MetLife Investment Management LLC Sells 670 Shares of Masimo Co. (NASDAQ:MASI)

MetLife Investment Management LLC trimmed its stake in shares of Masimo Co. (NASDAQ:MASI) by 2.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 23,812 shares of the medical equipment provider’s stock after selling 670 shares during the quarter. MetLife Investment Management LLC’s holdings in Masimo were worth $3,175,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Edgestream Partners L.P. bought a new stake in shares of Masimo during the 2nd quarter valued at $645,000. Simplify Asset Management Inc. lifted its position in shares of Masimo by 120.4% during the 2nd quarter. Simplify Asset Management Inc. now owns 21,670 shares of the medical equipment provider’s stock worth $2,729,000 after buying an additional 11,838 shares during the last quarter. ING Groep NV lifted its position in shares of Masimo by 143.3% during the 3rd quarter. ING Groep NV now owns 240,900 shares of the medical equipment provider’s stock worth $32,119,000 after buying an additional 141,900 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in shares of Masimo by 23.2% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,394,056 shares of the medical equipment provider’s stock worth $185,869,000 after buying an additional 262,370 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Masimo by 42.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,217,357 shares of the medical equipment provider’s stock worth $153,314,000 after buying an additional 360,497 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors.

Masimo Trading Up 1.5 %

Shares of MASI stock opened at $174.19 on Wednesday. The stock has a market cap of $9.33 billion, a price-to-earnings ratio of 120.13 and a beta of 1.01. The stock has a 50-day moving average of $151.13 and a 200-day moving average of $130.62. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. Masimo Co. has a 1-year low of $96.40 and a 1-year high of $178.27.

Masimo (NASDAQ:MASI) last released its earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.84 by $0.14. The business had revenue of $504.60 million during the quarter, compared to analysts’ expectations of $502.87 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 earnings per share. On average, equities research analysts forecast that Masimo Co. will post 4.03 earnings per share for the current year.

Wall Street Analyst Weigh In

MASI has been the subject of several recent analyst reports. BTIG Research upped their price objective on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a research report on Wednesday, November 6th. Stifel Nicolaus reiterated a “buy” rating and issued a $190.00 target price (up from $170.00) on shares of Masimo in a research report on Friday, November 22nd. Wells Fargo & Company increased their target price on Masimo from $160.00 to $171.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Finally, Raymond James upgraded Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 target price for the company in a research report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $167.00.

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.