Northern Trust Corp Reduces Holdings in Masimo Corporation $MASI

Northern Trust Corp trimmed its stake in Masimo Corporation (NASDAQ:MASI) by 0.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 383,356 shares of the medical equipment provider’s stock after selling 513 shares during the period. Northern Trust Corp owned 0.71% of Masimo worth $63,867,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MASI. Farther Finance Advisors LLC lifted its position in shares of Masimo by 128.9% in the 1st quarter. Farther Finance Advisors LLC now owns 206 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 116 shares during the period. NBC Securities Inc. purchased a new stake in shares of Masimo in the 1st quarter worth about $61,000. UMB Bank n.a. lifted its position in shares of Masimo by 134.0% in the 1st quarter. UMB Bank n.a. now owns 447 shares of the medical equipment provider’s stock worth $74,000 after purchasing an additional 256 shares during the period. GAMMA Investing LLC lifted its position in shares of Masimo by 58.4% in the 1st quarter. GAMMA Investing LLC now owns 738 shares of the medical equipment provider’s stock worth $123,000 after purchasing an additional 272 shares during the period. Finally, Ballentine Partners LLC purchased a new stake in shares of Masimo in the 1st quarter worth about $206,000. 85.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MASI shares. Raymond James Financial dropped their target price 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. Piper Sandler raised their target price on shares of Masimo from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Wells Fargo & Company dropped their target price on shares of Masimo from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. BTIG Research reaffirmed a “buy” rating on shares of Masimo in a research report on Thursday, August 14th. Finally, Wall Street Zen cut shares of Masimo from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $193.60.

Masimo Trading Down 2.3%

Shares of NASDAQ MASI opened at $145.15 on Tuesday. Masimo Corporation has a 1 year low of $107.98 and a 1 year high of $194.88. The stock has a market cap of $7.89 billion, a P/E ratio of -17.04 and a beta of 1.21. The firm has a 50-day moving average of $158.85 and a 200 day moving average of $162.54. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.14 and a quick ratio of 1.61.

Masimo (NASDAQ:MASI) last issued its quarterly earnings results on Tuesday, August 5th. The medical equipment provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.11. The company 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%. Masimo’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the company posted $0.86 EPS. As a group, sell-side analysts expect that Masimo Corporation will post 4.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director William R. Jellison acquired 3,000 shares of Masimo stock in a transaction on Monday, August 11th. The stock was acquired at an average cost of $145.98 per share, for a total transaction of $437,940.00. Following the purchase, the director owned 4,790 shares in the company, valued at $699,244.20. This trade represents a 167.60% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 16.90% of the company’s stock.

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.