Bank of America Corp DE Sells 10,542 Shares of Masimo Co. (NASDAQ:MASI)

Bank of America Corp DE decreased its position in Masimo Co. (NASDAQ:MASI - Free Report) by 8.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 107,303 shares of the medical equipment provider's stock after selling 10,542 shares during the quarter. Bank of America Corp DE owned approximately 0.20% of Masimo worth $17,737,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MASI. FMR LLC lifted its holdings in Masimo by 19.8% in the fourth quarter. FMR LLC now owns 8,097,454 shares of the medical equipment provider's stock valued at $1,338,509,000 after acquiring an additional 1,340,836 shares during the period. Capital Research Global Investors increased its position in Masimo by 80.5% in the fourth quarter. Capital Research Global Investors now owns 2,454,975 shares of the medical equipment provider's stock worth $405,807,000 after buying an additional 1,094,647 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Masimo by 119.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,735,167 shares of the medical equipment provider's stock worth $286,823,000 after buying an additional 943,001 shares in the last quarter. Alliancebernstein L.P. increased its position in Masimo by 1,276.9% in the fourth quarter. Alliancebernstein L.P. now owns 947,391 shares of the medical equipment provider's stock worth $156,604,000 after buying an additional 878,587 shares in the last quarter. Finally, Corient Private Wealth LLC increased its position in Masimo by 8,847.1% in the fourth quarter. Corient Private Wealth LLC now owns 347,683 shares of the medical equipment provider's stock worth $57,472,000 after buying an additional 343,797 shares in the last quarter. Institutional investors own 85.96% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on MASI. Wells Fargo & Company reduced their price target on Masimo from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Piper Sandler restated an "overweight" rating and issued a $200.00 price target (down previously from $215.00) on shares of Masimo in a research report on Wednesday, May 7th. BTIG Research set a $193.00 price target on Masimo and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Needham & Company LLC restated a "hold" rating on shares of Masimo in a research report on Thursday, April 10th. Finally, Raymond James reduced their price target on Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $191.60.

Masimo Price Performance

Shares of NASDAQ:MASI traded up $0.22 during trading on Friday, hitting $150.13. 311,070 shares of the company's stock were exchanged, compared to its average volume of 651,386. 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 Co. has a 52-week low of $101.61 and a 52-week high of $194.88. The business's 50-day simple moving average is $158.42 and its 200 day simple moving average is $167.38. The company has a market cap of $8.14 billion, a price-to-earnings ratio of 103.54 and a beta of 1.23.

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

Insider Buying and Selling at Masimo

In other Masimo news, Director Craig B. Reynolds sold 2,053 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was 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 $2,754,601.53. This trade represents a 11.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Bilal Muhsin sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $163.28, for a total value of $1,632,800.00. Following the transaction, the chief operating officer now owns 24,172 shares of the company's stock, valued at $3,946,804.16. This represents a 29.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,053 shares of company stock worth $6,998,565 in the last quarter. 16.90% of the stock is owned by corporate insiders.

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.