Comerica Bank Sells 103,703 Shares of Masimo Co. (NASDAQ:MASI)

Comerica Bank cut its holdings in Masimo Co. (NASDAQ:MASI - Free Report) by 42.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 141,378 shares of the medical equipment provider's stock after selling 103,703 shares during the period. Comerica Bank owned 0.26% of Masimo worth $23,370,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp bought a new position in shares of Masimo during the fourth quarter valued at $27,000. UMB Bank n.a. lifted its position in Masimo by 180.9% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the medical equipment provider's stock worth $32,000 after buying an additional 123 shares in the last quarter. Trust Co. of Vermont bought a new stake in Masimo during the 4th quarter worth about $33,000. Blue Trust Inc. raised its position in Masimo by 56.3% in the 4th quarter. Blue Trust Inc. now owns 197 shares of the medical equipment provider's stock worth $33,000 after purchasing an additional 71 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Masimo by 40.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 224 shares of the medical equipment provider's stock valued at $37,000 after acquiring an additional 64 shares during the period. 85.96% of the stock is owned by institutional investors.

Insider Transactions at Masimo

In related news, COO Bilal Muhsin sold 30,000 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $167.49, for a total transaction of $5,024,700.00. Following the completion of the transaction, the chief operating officer now directly owns 24,172 shares of the company's stock, valued at $4,048,568.28. This trade represents a 55.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Craig B. Reynolds sold 2,053 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $166.13, for a total transaction of $341,064.89. Following the sale, the director now directly owns 16,581 shares of the company's stock, valued at $2,754,601.53. This represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. 9.70% of the stock is owned by insiders.

Analyst Ratings Changes

MASI has been the subject of a number of recent analyst reports. Piper Sandler upped their price target on Masimo from $210.00 to $215.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Needham & Company LLC reiterated a "hold" rating on shares of Masimo in a report on Thursday, April 10th. Finally, Wells Fargo & Company boosted their price objective on shares of Masimo from $193.00 to $205.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. One 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 target price of $194.80.

Masimo Stock Performance

Shares of MASI stock traded down $0.63 during trading on Tuesday, reaching $162.23. 197,753 shares of the company's stock were exchanged, compared to its average volume of 660,476. Masimo Co. has a twelve month low of $101.61 and a twelve month high of $194.88. The stock has a market capitalization of $8.77 billion, a PE ratio of 111.85 and a beta of 1.23. The firm's fifty day moving average price is $164.19 and its 200-day moving average price is $166.57. 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 (NASDAQ:MASI - Get Free Report) last announced its earnings results on Tuesday, February 25th. The medical equipment provider reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.38. The firm had revenue of $600.70 million for the quarter, compared to analyst estimates of $593.35 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. As a group, sell-side analysts anticipate that Masimo Co. will post 4.1 EPS for the current year.

Masimo 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.