Exchange Traded Concepts LLC Has $590,000 Stake in Masimo Corporation (NASDAQ:MASI)

Exchange Traded Concepts LLC cut its holdings in Masimo Corporation (NASDAQ:MASI - Free Report) by 66.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,539 shares of the medical equipment provider's stock after selling 7,013 shares during the period. Exchange Traded Concepts LLC's holdings in Masimo were worth $590,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MASI. Smartleaf Asset Management LLC grew its position in Masimo by 31.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 250 shares of the medical equipment provider's stock valued at $42,000 after purchasing an additional 60 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Masimo by 40.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 224 shares of the medical equipment provider's stock valued at $37,000 after purchasing an additional 64 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Masimo by 0.8% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,815 shares of the medical equipment provider's stock valued at $1,622,000 after purchasing an additional 82 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Masimo by 0.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,456 shares of the medical equipment provider's stock valued at $1,728,000 after purchasing an additional 83 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in Masimo by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,631 shares of the medical equipment provider's stock valued at $270,000 after purchasing an additional 87 shares in the last quarter. Institutional investors own 85.96% of the company's stock.

Insider Buying and Selling

In other Masimo news, COO Bilal Muhsin sold 10,000 shares of Masimo stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 24,172 shares in the company, valued at $3,946,804.16. The trade was a 29.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 16.90% of the stock is currently owned by insiders.

Masimo Stock Performance

Shares of MASI stock traded up $2.41 during midday trading on Friday, hitting $165.18. 630,756 shares of the company were exchanged, compared to its average volume of 639,509. The firm has a market capitalization of $8.96 billion, a P/E ratio of -18.01 and a beta of 1.19. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.62 and a current ratio of 2.17. The firm's 50 day moving average price is $159.10 and its two-hundred day moving average price is $166.75. Masimo Corporation has a 52 week low of $101.61 and a 52 week high of $194.88.

Masimo (NASDAQ:MASI - Get Free Report) last announced its earnings results 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 business had revenue of $372.00 million during the quarter, compared to the consensus estimate of $367.79 million. Masimo had a negative net margin of 25.06% and a positive return on equity of 22.56%. Masimo's revenue was down 24.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 EPS. As a group, equities research analysts anticipate that Masimo Corporation will post 4.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MASI shares. Needham & Company LLC reissued a "hold" rating on shares of Masimo in a research report on Thursday, April 10th. Raymond James Financial decreased their price objective 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. Wall Street Zen downgraded shares of Masimo from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Wells Fargo & Company decreased their price objective 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. Finally, BTIG Research set a $193.00 price objective on shares of Masimo and gave the company a "buy" rating in a research report on Wednesday, May 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $191.60.

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.