Great Lakes Advisors LLC Trims Stake in Masimo Corporation $MASI

Key Points

• Great Lakes Advisors LLC sold 2,858 shares of Masimo Corporation, reducing its position by 3.0% to a total of 92,872 shares valued at approximately $15.47 million.
• Masimo received positive analyst attention with BTIG Research reiterating a "buy" rating and Zacks upgrading it to a "strong-buy", indicating confidence in the stock's performance.
• Director William R. Jellison increased his stake by purchasing 3,000 shares of Masimo at an average price of $145.98, representing a significant increase in his position.

Great Lakes Advisors LLC lowered its holdings in shares of Masimo Corporation (NASDAQ:MASI - Free Report) by 3.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 92,872 shares of the medical equipment provider's stock after selling 2,858 shares during the period. Great Lakes Advisors LLC owned approximately 0.17% of Masimo worth $15,472,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Twin Tree Management LP acquired a new stake in Masimo during the first quarter worth approximately $29,000. Farther Finance Advisors LLC grew its stake in Masimo by 128.9% in the first quarter. Farther Finance Advisors LLC now owns 206 shares of the medical equipment provider's stock valued at $35,000 after acquiring an additional 116 shares during the period. NBC Securities Inc. acquired a new stake in Masimo in the first quarter valued at approximately $61,000. UMB Bank n.a. grew its stake in Masimo by 134.0% in the first quarter. UMB Bank n.a. now owns 447 shares of the medical equipment provider's stock valued at $74,000 after acquiring an additional 256 shares during the period. Finally, Quarry LP grew its stake in Masimo by 253.5% in the first quarter. Quarry LP now owns 449 shares of the medical equipment provider's stock valued at $75,000 after acquiring an additional 322 shares during the period. Institutional investors and hedge funds own 85.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wall Street Zen cut Masimo from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. BTIG Research reissued a "buy" rating and issued a $198.00 price objective on shares of Masimo in a research note on Thursday. Piper Sandler raised their price objective on Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Finally, Zacks Research raised Masimo from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $194.60.

Insider Buying and Selling at Masimo

In related news, Director William R. Jellison purchased 3,000 shares of Masimo stock in a transaction dated Monday, August 11th. The stock was bought at an average cost of $145.98 per share, for a total transaction of $437,940.00. Following the completion of the transaction, the director owned 4,790 shares in the company, valued at $699,244.20. This trade represents a 167.60% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.70% of the company's stock.

Masimo Stock Performance

Shares of NASDAQ MASI traded up $1.23 during mid-day trading on Friday, hitting $147.44. The company had a trading volume of 699,217 shares, compared to its average volume of 631,989. The company has a market capitalization of $8.01 billion, a price-to-earnings ratio of -17.31 and a beta of 1.23. Masimo Corporation has a 1 year low of $111.03 and a 1 year high of $194.88. The company has a current ratio of 2.14, a quick ratio of 1.61 and a debt-to-equity ratio of 0.57. The stock's 50-day moving average price is $152.66 and its 200-day moving average price is $159.64.

Masimo (NASDAQ:MASI - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The medical equipment provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.11. The company had revenue of $370.90 million during the quarter, compared to analysts' expectations of $368.65 million. Masimo had a positive return on equity of 26.54% and a negative net margin of 24.85%.The firm's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 earnings per share. On average, sell-side analysts forecast that Masimo Corporation will post 4.1 earnings per share for the current 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.