Masimo Co. (NASDAQ:MASI) Shares Sold by Farallon Capital Management LLC

Farallon Capital Management LLC lowered its stake in shares of Masimo Co. (NASDAQ:MASI - Free Report) by 68.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 397,000 shares of the medical equipment provider's stock after selling 861,563 shares during the period. Farallon Capital Management LLC owned approximately 0.74% of Masimo worth $65,624,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MASI. Barclays PLC boosted its position in Masimo by 152.6% in the 3rd quarter. Barclays PLC now owns 39,957 shares of the medical equipment provider's stock valued at $5,329,000 after buying an additional 24,137 shares during the period. Tidal Investments LLC purchased a new position in Masimo in the 3rd quarter valued at approximately $319,000. GAMMA Investing LLC boosted its position in Masimo by 136.5% in the 4th quarter. GAMMA Investing LLC now owns 466 shares of the medical equipment provider's stock valued at $77,000 after buying an additional 269 shares during the period. Nordea Investment Management AB boosted its position in Masimo by 0.7% in the 4th quarter. Nordea Investment Management AB now owns 19,182 shares of the medical equipment provider's stock valued at $3,206,000 after buying an additional 142 shares during the period. Finally, Fifth Third Wealth Advisors LLC purchased a new position in Masimo in the 4th quarter valued at approximately $241,000. Hedge funds and other institutional investors own 85.96% of the company's stock.

Masimo Stock Up 2.3%

NASDAQ:MASI traded up $3.60 during midday trading on Friday, hitting $157.18. 1,594,616 shares of the company were exchanged, compared to its average volume of 660,400. The company has a fifty day simple moving average of $161.66 and a 200 day simple moving average of $166.94. Masimo Co. has a fifty-two week low of $101.61 and a fifty-two week high of $194.88. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $8.52 billion, a PE ratio of 108.40 and a beta of 1.23.

Masimo (NASDAQ:MASI - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The medical equipment provider reported $1.36 EPS for the quarter, topping the consensus estimate of $1.24 by $0.12. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The firm had revenue of $372.00 million for the quarter, compared to analyst estimates of $367.79 million. During the same period last year, the business earned $0.77 EPS. Masimo's revenue for the quarter was down 24.5% compared to the same quarter last year. As a group, equities analysts anticipate that Masimo Co. will post 4.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MASI has been the subject of several recent research reports. BTIG Research set a $193.00 price target on shares of Masimo and gave the company a "buy" rating in a research report on Wednesday. Raymond James reduced their price objective on shares of Masimo from $204.00 to $185.00 and set an "outperform" rating on the stock in a report on Wednesday. Wells Fargo & Company reduced their price objective on shares of Masimo from $205.00 to $190.00 and set an "overweight" rating on the stock in a report on Wednesday. Needham & Company LLC restated a "hold" rating on shares of Masimo in a report on Thursday, April 10th. Finally, Piper Sandler restated an "overweight" rating and issued a $200.00 price objective (down from $215.00) on shares of Masimo in a report on Wednesday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $191.60.

Insider Buying and Selling

In related news, COO Bilal Muhsin sold 30,000 shares of Masimo stock in a transaction on 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 sale, the chief operating officer now directly owns 24,172 shares in the company, valued at $4,048,568.28. This trade represents a 55.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Craig B. Reynolds sold 2,053 shares of Masimo stock in a transaction 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 completion of the transaction, the director now owns 16,581 shares in the company, valued at approximately $2,754,601.53. This represents a 11.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.70% of the stock is owned by company insiders.

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.