Vanguard Group Inc. Reduces Stock Position in Masimo Corporation (NASDAQ:MASI)

Vanguard Group Inc. cut its position in Masimo Corporation (NASDAQ:MASI) by 0.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,583,276 shares of the medical equipment provider’s stock after selling 3,426 shares during the period. Vanguard Group Inc. owned approximately 8.48% of Masimo worth $763,574,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Bank of Nova Scotia acquired a new position in Masimo during the first quarter valued at $15,528,000. PNC Financial Services Group Inc. raised its stake in shares of Masimo by 21.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,684 shares of the medical equipment provider’s stock valued at $947,000 after buying an additional 999 shares during the last quarter. Commerce Bank lifted its holdings in shares of Masimo by 2.5% in the 1st quarter. Commerce Bank now owns 5,024 shares of the medical equipment provider’s stock valued at $837,000 after buying an additional 124 shares during the period. Wealthquest Corp purchased a new stake in shares of Masimo in the first quarter worth about $352,000. Finally, Vestcor Inc acquired a new stake in Masimo during the first quarter worth about $637,000. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Masimo

In other news, Director William R. Jellison bought 3,000 shares of the firm’s stock in a transaction dated Monday, August 11th. The shares were acquired at an average price of $145.98 per share, for a total transaction of $437,940.00. Following the completion of the transaction, the director directly owned 4,790 shares in the company, valued at $699,244.20. The trade was a 167.60% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 16.90% of the stock is owned by insiders.

Masimo Price Performance

Shares of NASDAQ MASI opened at $150.13 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.61 and a current ratio of 2.14. The firm has a fifty day moving average of $161.84 and a 200 day moving average of $164.29. The firm has a market cap of $8.16 billion, a PE ratio of -17.62 and a beta of 1.21. Masimo Corporation has a one year low of $107.98 and a one year high of $194.88.

Masimo (NASDAQ:MASI) last released its earnings results on Tuesday, August 5th. The medical equipment provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.11. The business had revenue of $370.90 million during the quarter, compared to analysts’ expectations of $368.65 million. Masimo had a negative net margin of 24.85% and a positive return on equity of 26.54%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 earnings per share. As a group, research analysts predict that Masimo Corporation will post 4.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on MASI. Wells Fargo & Company decreased their price target on Masimo from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, May 7th. Wall Street Zen lowered shares of Masimo from a “buy” rating to a “hold” rating in a report on Friday, May 30th. BTIG Research reissued a “buy” rating on shares of Masimo in a report on Monday, July 14th. Piper Sandler lifted their price objective on shares of Masimo from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. Finally, Raymond James Financial decreased their price objective on shares of Masimo from $204.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $193.60.

Masimo Company 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.