Masimo Co. (NASDAQ:MASI) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Masimo Co. (NASDAQ:MASI) by 4.8% during the third quarter, Holdings Channel.com reports. The firm owned 372,183 shares of the medical equipment provider’s stock after selling 18,843 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Masimo were worth $49,623,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. NBC Securities Inc. increased its holdings in shares of Masimo by 47.1% during the third quarter. NBC Securities Inc. now owns 228 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 73 shares during the period. GAMMA Investing LLC increased its holdings in shares of Masimo by 75.0% during the second quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider’s stock valued at $33,000 after purchasing an additional 111 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Masimo by 133.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 350 shares of the medical equipment provider’s stock valued at $44,000 after purchasing an additional 200 shares during the period. Lazard Asset Management LLC increased its holdings in shares of Masimo by 5,730.0% during the first quarter. Lazard Asset Management LLC now owns 583 shares of the medical equipment provider’s stock valued at $85,000 after purchasing an additional 573 shares during the period. Finally, HHM Wealth Advisors LLC increased its holdings in shares of Masimo by 25.0% during the second quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider’s stock valued at $79,000 after purchasing an additional 125 shares during the period. 85.96% of the stock is owned by institutional investors and hedge funds.

Masimo Price Performance

Shares of NASDAQ:MASI opened at $161.07 on Friday. The company’s fifty day moving average is $137.19 and its two-hundred day moving average is $126.77. The company has a quick ratio of 1.11, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. Masimo Co. has a 12-month low of $91.25 and a 12-month high of $173.90. The company has a market cap of $8.62 billion, a P/E ratio of 111.08 and a beta of 0.97.

Masimo (NASDAQ:MASI) last announced its earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.14. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The company had revenue of $504.60 million for the quarter, compared to the consensus estimate of $502.87 million. During the same period in the previous year, the business earned $0.63 EPS. The company’s revenue was up 5.4% on a year-over-year basis. Equities analysts expect that Masimo Co. will post 4.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on MASI. Wells Fargo & Company raised their target price on Masimo from $160.00 to $171.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Piper Sandler raised their target price on Masimo from $165.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Raymond James raised Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 target price for the company in a research note on Wednesday, November 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research note on Wednesday, November 6th. Finally, BTIG Research lifted their price target on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.67.

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.