Masimo Corporation $MASI Shares Sold by Comerica Bank

Key Points

• Comerica Bank has reduced its stake in Masimo Corporation by 2.5%, now holding 137,855 shares valued at approximately $22.96 million after selling 3,523 shares in Q1.
• Insider Director William R. Jellison significantly increased his position in Masimo by purchasing 3,000 shares at an average price of $145.98, bringing his total ownership to about $699,244.
• While five analysts have rated Masimo as a Buy, the average target price has seen fluctuations, recently between $185.00 and $210.00, indicating varying outlooks on the stock's performance.

Comerica Bank lowered its stake in Masimo Corporation (NASDAQ:MASI - Free Report) by 2.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 137,855 shares of the medical equipment provider's stock after selling 3,523 shares during the period. Comerica Bank owned approximately 0.25% of Masimo worth $22,967,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of MASI. Massachusetts Financial Services Co. MA lifted its stake in shares of Masimo by 13.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,967,838 shares of the medical equipment provider's stock worth $327,842,000 after acquiring an additional 232,671 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Masimo by 259.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 250,786 shares of the medical equipment provider's stock worth $41,456,000 after acquiring an additional 181,070 shares during the period. Nuveen LLC purchased a new position in Masimo during the first quarter worth about $25,830,000. GAMMA Investing LLC lifted its position in Masimo by 26,284.3% in the first quarter. GAMMA Investing LLC now owns 122,951 shares of the medical equipment provider's stock valued at $20,484,000 after purchasing an additional 122,485 shares during the period. Finally, BLI Banque de Luxembourg Investments purchased a new stake in Masimo in the 4th quarter valued at approximately $17,067,000. 85.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Masimo

In other Masimo news, Director William R. Jellison acquired 3,000 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were acquired at an average price of $145.98 per share, for a total transaction of $437,940.00. Following the completion of the acquisition, 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 9.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MASI has been the subject of a number of analyst reports. Raymond James Financial cut their target price on Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. BTIG Research reiterated a "buy" rating on shares of Masimo in a research report on Thursday, August 14th. Wall Street Zen downgraded Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Piper Sandler boosted their target price on shares of Masimo from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company cut their price target on shares of Masimo from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Masimo presently has a consensus rating of "Moderate Buy" and an average target price of $193.60.

Masimo Trading Down 1.1%

NASDAQ:MASI traded down $1.54 on Thursday, reaching $140.95. The stock had a trading volume of 668,122 shares, compared to its average volume of 888,083. Masimo Corporation has a 12-month low of $107.98 and a 12-month high of $194.88. The company has a market cap of $7.66 billion, a price-to-earnings ratio of 26.05 and a beta of 1.21. The firm's fifty day moving average is $157.68 and its two-hundred day moving average is $162.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.14 and a quick ratio of 1.61.

Masimo (NASDAQ:MASI - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The medical equipment provider reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.22 by $0.11. The business 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%. The company's revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 earnings per share. Equities analysts expect that Masimo Corporation will post 4.1 EPS for the current fiscal year.

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.