Allspring Global Investments Holdings LLC Sells 10,462 Shares of Masimo Corporation (NASDAQ:MASI)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Masimo Corporation (NASDAQ:MASI - Free Report) by 21.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 38,302 shares of the medical equipment provider's stock after selling 10,462 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.07% of Masimo worth $6,420,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Perpetual Ltd purchased a new position in Masimo in the 1st quarter worth approximately $5,033,000. Wealthquest Corp purchased a new position in Masimo in the 1st quarter worth approximately $352,000. Silver Oak Securities Incorporated purchased a new position in Masimo in the 1st quarter worth approximately $268,000. State of Alaska Department of Revenue raised its holdings in Masimo by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 5,204 shares of the medical equipment provider's stock worth $866,000 after acquiring an additional 135 shares during the last quarter. Finally, Cardinal Capital Management raised its holdings in Masimo by 6.1% in the 1st quarter. Cardinal Capital Management now owns 19,868 shares of the medical equipment provider's stock worth $3,310,000 after acquiring an additional 1,148 shares during the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Masimo Stock Performance

Shares of NASDAQ:MASI traded up $3.06 during midday trading on Wednesday, hitting $165.41. The company had a trading volume of 389,091 shares, compared to its average volume of 640,502. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.17 and a quick ratio of 1.62. The company has a market cap of $8.97 billion, a price-to-earnings ratio of -18.04 and a beta of 1.19. Masimo Corporation has a 12-month low of $101.61 and a 12-month high of $194.88. The company has a fifty day moving average of $161.93 and a two-hundred day moving average of $166.35.

Masimo (NASDAQ:MASI - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $372.00 million during the quarter, compared to analyst estimates of $367.79 million. Masimo had a positive return on equity of 22.56% and a negative net margin of 25.06%. Masimo's revenue was down 24.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 EPS. On average, equities research analysts expect that Masimo Corporation will post 4.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Needham & Company LLC restated a "hold" rating on shares of Masimo in a report on Thursday, April 10th. Wells Fargo & Company cut their target price on shares of Masimo from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. BTIG Research set a $193.00 target price on shares of Masimo and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Raymond James Financial cut their target price on shares of Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Finally, Piper Sandler reissued an "overweight" rating and issued a $200.00 target price (down from $215.00) on shares of Masimo in a research report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $191.60.

Insider Activity at Masimo

In other news, COO Bilal Muhsin sold 10,000 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $163.28, for a total value of $1,632,800.00. Following the completion of the sale, the chief operating officer directly owned 24,172 shares in the company, valued at $3,946,804.16. This represents a 29.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 9.70% of the stock is owned by company 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.