Alliancebernstein L.P. Trims Position in Masimo Corporation $MASI

Key Points

• Alliancebernstein L.P. reduced its holdings in Masimo Corporation by 8.6%, selling 81,521 shares, leaving it with approximately 865,870 shares valued at about $144 million.
• Several institutional investors adjusted their positions in Masimo, with AQR Capital Management LLC increasing its stake by 136.5%, now owning 8,142 shares worth $1.3 million.
• Masimo Corporation recently reported earnings of $1.33 per share, exceeding estimates, with revenue of $370.9 million, marking a year-over-year increase of 7.7%.

Alliancebernstein L.P. trimmed its holdings in shares of Masimo Corporation (NASDAQ:MASI - Free Report) by 8.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 865,870 shares of the medical equipment provider's stock after selling 81,521 shares during the period. Alliancebernstein L.P. owned about 1.60% of Masimo worth $144,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Twin Tree Management LP bought a new position in Masimo during the 1st quarter worth about $29,000. Farther Finance Advisors LLC grew its holdings in Masimo by 128.9% during the 1st quarter. Farther Finance Advisors LLC now owns 206 shares of the medical equipment provider's stock worth $35,000 after acquiring an additional 116 shares in the last quarter. NBC Securities Inc. bought a new position in Masimo during the 1st quarter worth about $61,000. UMB Bank n.a. grew its holdings in Masimo by 134.0% during the 1st quarter. UMB Bank n.a. now owns 447 shares of the medical equipment provider's stock worth $74,000 after acquiring an additional 256 shares in the last quarter. Finally, Quarry LP grew its holdings in Masimo by 253.5% during the 1st quarter. Quarry LP now owns 449 shares of the medical equipment provider's stock worth $75,000 after acquiring an additional 322 shares in the last quarter. 85.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MASI has been the topic of several recent research reports. BTIG Research reiterated a "buy" rating on shares of Masimo in a report on Thursday, August 14th. Zacks Research upgraded shares of Masimo from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Wall Street Zen cut shares of Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Piper Sandler raised their price target on shares of Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Masimo presently has an average rating of "Buy" and an average price target of $193.60.

Masimo Stock Performance

Shares of Masimo stock traded down $2.22 during midday trading on Wednesday, hitting $145.91. The company had a trading volume of 64,341 shares, compared to its average volume of 629,716. The stock has a market cap of $7.93 billion, a price-to-earnings ratio of -17.13 and a beta of 1.23. The company has a quick ratio of 1.61, a current ratio of 2.14 and a debt-to-equity ratio of 0.57. The company has a fifty day simple moving average of $153.60 and a 200 day simple moving average of $159.91. Masimo Corporation has a 12-month low of $111.03 and a 12-month high of $194.88.

Masimo (NASDAQ:MASI - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The medical equipment provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.22 by $0.11. The firm had revenue of $370.90 million during the quarter, compared to analyst estimates 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 firm posted $0.86 EPS. As a group, analysts predict that Masimo Corporation will post 4.1 earnings per share for the current fiscal year.

Insider Activity at Masimo

In related news, Director William R. Jellison acquired 3,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was purchased at an average cost of $145.98 per share, with a total value of $437,940.00. Following the transaction, the director directly owned 4,790 shares of the company's stock, valued at $699,244.20. This trade represents a 167.60% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 16.90% of the stock is owned by insiders.

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.