HighTower Advisors LLC Reduces Stock Position in Masimo Corporation $MASI

Key Points

• HighTower Advisors LLC has reduced its position in Masimo Corporation by 33.2%, now holding 4,550 shares worth approximately $758,000.
• In the first quarter, several large investors increased their stakes in Masimo, including Massachusetts Financial Services Co. which enlarged its position by 13.4%.
• Masimo's latest quarterly earnings report showed an earnings per share of $1.33, exceeding analysts' expectations, and a 7.7% increase in revenue compared to the previous year.

HighTower Advisors LLC trimmed its holdings in Masimo Corporation (NASDAQ:MASI - Free Report) by 33.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,550 shares of the medical equipment provider's stock after selling 2,263 shares during the period. HighTower Advisors LLC's holdings in Masimo were worth $758,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its holdings in 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 valued at $327,842,000 after acquiring an additional 232,671 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Masimo by 27.5% in the fourth quarter. Northern Trust Corp now owns 383,869 shares of the medical equipment provider's stock valued at $63,454,000 after purchasing an additional 82,828 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Masimo by 8.0% during the fourth quarter. Ameriprise Financial Inc. now owns 215,946 shares of the medical equipment provider's stock worth $35,696,000 after buying an additional 16,085 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Masimo by 69.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 190,246 shares of the medical equipment provider's stock valued at $31,448,000 after buying an additional 77,775 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Masimo in the 1st quarter worth $25,830,000. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Masimo Trading Down 0.6%

NASDAQ MASI traded down $0.86 during trading on Wednesday, hitting $136.88. The stock had a trading volume of 43,991 shares, compared to its average volume of 630,103. The company has a quick ratio of 1.61, a current ratio of 2.14 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $7.44 billion, a PE ratio of -16.08 and a beta of 1.23. The firm has a 50 day moving average price of $155.95 and a 200 day moving average price of $161.05. Masimo Corporation has a twelve month low of $107.98 and a twelve month high of $194.88.

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

Insiders Place Their Bets

In other news, Director William R. Jellison bought 3,000 shares of the business's stock in a transaction that occurred on Monday, August 11th. The shares were purchased at an average cost of $145.98 per share, for a total transaction of $437,940.00. Following the completion of the purchase, the director owned 4,790 shares of the company's stock, valued at approximately $699,244.20. This 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 can be accessed through this hyperlink. 16.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MASI shares. Wells Fargo & Company lowered their price target on shares of Masimo from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. BTIG Research reaffirmed a "buy" rating on shares of Masimo in a research report on Thursday, August 14th. Raymond James Financial lowered their price objective on Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Piper Sandler upped their price target on Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen downgraded Masimo from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. 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, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $193.60.

Masimo Company 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.