Masimo Corporation $MASI Shares Sold by Birchview Capital LP

Key Points

• Birchview Capital LP has reduced its stake in Masimo Corporation by 26.2%, now holding 11,280 shares, which is worth approximately $1.879 million.
• Other institutional investors are also active in Masimo, with Durable Capital Partners LP acquiring a significant stake valued at $187.53 million, and Royal Bank of Canada increasing its holdings by 44.5%.
• Masimo's recent quarterly earnings showed a 7.7% year-over-year revenue increase to $370.90 million, beating analyst expectations, with an EPS of $1.33 compared to an expected $1.22.

Birchview Capital LP cut its holdings in Masimo Corporation (NASDAQ:MASI - Free Report) by 26.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,280 shares of the medical equipment provider's stock after selling 4,000 shares during the quarter. Masimo makes up about 1.6% of Birchview Capital LP's investment portfolio, making the stock its 17th largest position. Birchview Capital LP's holdings in Masimo were worth $1,879,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Hsbc Holdings PLC purchased a new stake in shares of Masimo during the fourth quarter valued at about $912,000. The Manufacturers Life Insurance Company lifted its position in shares of Masimo by 40.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 51,457 shares of the medical equipment provider's stock valued at $8,506,000 after buying an additional 14,931 shares during the last quarter. Northern Trust Corp lifted its position in shares of Masimo by 27.5% during the fourth quarter. Northern Trust Corp now owns 383,869 shares of the medical equipment provider's stock valued at $63,454,000 after buying an additional 82,828 shares during the last quarter. Lido Advisors LLC purchased a new stake in shares of Masimo during the fourth quarter valued at about $555,000. Finally, Freestone Grove Partners LP purchased a new stake in shares of Masimo during the fourth quarter valued at about $357,000. 85.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MASI has been the subject of several analyst reports. Zacks Research raised shares of Masimo from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Piper Sandler increased their price target on shares of Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Wall Street Zen downgraded shares of Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, BTIG Research restated a "buy" rating on shares of Masimo in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $193.60.

Insider Activity at Masimo

In other news, Director William R. Jellison acquired 3,000 shares of the company's stock in a transaction dated Monday, August 11th. The shares were acquired at an average price of $145.98 per share, with a total value of $437,940.00. Following the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 9.70% of the stock is owned by insiders.

Masimo Stock Performance

NASDAQ:MASI traded up $4.18 during mid-day trading on Friday, hitting $147.19. The company's stock had a trading volume of 693,981 shares, compared to its average volume of 649,554. Masimo Corporation has a 1 year low of $107.98 and a 1 year high of $194.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.14 and a quick ratio of 1.61. The stock has a market cap of $8.00 billion, a price-to-earnings ratio of -17.28 and a beta of 1.23. The business's fifty day moving average is $154.41 and its two-hundred day moving average is $160.39.

Masimo (NASDAQ:MASI - Get Free Report) last posted its quarterly earnings results 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. Masimo had a negative net margin of 24.85% and a positive return on equity of 26.54%. The company had revenue of $370.90 million for the quarter, compared to analyst estimates of $368.65 million. During the same period in the prior year, the company earned $0.86 earnings per share. The firm's revenue was up 7.7% on a year-over-year basis. Analysts anticipate that Masimo Corporation will post 4.1 EPS for the current fiscal year.

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.