JPMorgan Chase & Co. Trims Position in Masimo Co. (NASDAQ:MASI)

JPMorgan Chase & Co. decreased its holdings in Masimo Co. (NASDAQ:MASI) by 70.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 128,639 shares of the medical equipment provider’s stock after selling 301,514 shares during the quarter. JPMorgan Chase & Co. owned about 0.24% of Masimo worth $21,264,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Verition Fund Management LLC bought a new stake in shares of Masimo during the 3rd quarter valued at about $245,000. Stifel Financial Corp purchased a new stake in Masimo in the third quarter worth about $229,000. State Street Corp boosted its position in Masimo by 0.7% during the 3rd quarter. State Street Corp now owns 1,438,814 shares of the medical equipment provider’s stock valued at $191,837,000 after acquiring an additional 10,179 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new position in shares of Masimo during the 3rd quarter worth approximately $499,000. Finally, MML Investors Services LLC raised its position in shares of Masimo by 4.9% in the 3rd quarter. MML Investors Services LLC now owns 2,056 shares of the medical equipment provider’s stock worth $274,000 after acquiring an additional 96 shares in the last quarter. Institutional investors own 85.96% of the company’s stock.

Masimo Price Performance

MASI opened at $151.49 on Friday. Masimo Co. has a 1 year low of $101.61 and a 1 year high of $194.88. The stock has a 50-day moving average price of $171.03 and a 200-day moving average price of $164.13. The firm has a market cap of $8.19 billion, a PE ratio of 104.48 and a beta of 1.28. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11.

Masimo (NASDAQ:MASI) last issued its earnings results on Tuesday, February 25th. The medical equipment provider reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.38. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The firm had revenue of $600.70 million for the quarter, compared to the consensus estimate of $593.35 million. Sell-side analysts predict that Masimo Co. will post 4.1 earnings per share for the current fiscal year.

Insider Transactions at Masimo

In related news, Director Craig B. Reynolds sold 2,053 shares of Masimo stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $166.13, for a total value of $341,064.89. Following the completion of the sale, the director now directly owns 16,581 shares in the company, valued at approximately $2,754,601.53. This trade represents a 11.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Bilal Muhsin sold 30,000 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $167.49, for a total transaction of $5,024,700.00. Following the transaction, the chief operating officer now owns 24,172 shares in the company, valued at $4,048,568.28. This represents a 55.38 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MASI shares. Piper Sandler lifted their price target on Masimo from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Wells Fargo & Company boosted their target price on shares of Masimo from $193.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Raymond James increased their price target on shares of Masimo from $170.00 to $194.00 and gave the stock an “outperform” rating in a research note on Friday, December 27th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Masimo in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $194.80.

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.