KBC Group NV Decreases Stake in Masimo Corporation (NASDAQ:MASI)

KBC Group NV trimmed its stake in shares of Masimo Corporation (NASDAQ:MASI - Free Report) by 89.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 2,105 shares of the medical equipment provider's stock after selling 17,017 shares during the quarter. KBC Group NV's holdings in Masimo were worth $351,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its position in Masimo by 31.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 250 shares of the medical equipment provider's stock valued at $42,000 after buying an additional 60 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Masimo by 40.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 224 shares of the medical equipment provider's stock valued at $37,000 after buying an additional 64 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Masimo by 0.8% during the 4th 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 buying an additional 82 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Masimo by 0.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 10,456 shares of the medical equipment provider's stock valued at $1,728,000 after buying an additional 83 shares in the last quarter. Finally, Orion Portfolio Solutions LLC increased its position in Masimo by 2.1% during the 4th quarter. Orion Portfolio Solutions LLC now owns 4,778 shares of the medical equipment provider's stock valued at $790,000 after buying an additional 97 shares in the last quarter. 85.96% of the stock is currently owned by institutional investors.

Insider Transactions at Masimo

In other news, COO Bilal Muhsin sold 10,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $163.28, for a total value of $1,632,800.00. Following the transaction, the chief operating officer directly owned 24,172 shares in the company, valued at $3,946,804.16. The trade was a 29.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.70% of the company's stock.

Wall Street Analyst Weigh In

MASI has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Masimo in a research report on Thursday, April 10th. Piper Sandler reaffirmed an "overweight" rating and set a $200.00 price objective (down previously from $215.00) on shares of Masimo in a research report on Wednesday, May 7th. Raymond James Financial reduced 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. Wells Fargo & Company reduced their price objective on 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 target price on Masimo and gave the company a "buy" rating in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Masimo has a consensus rating of "Moderate Buy" and a consensus target price of $191.60.

Masimo Stock Performance

NASDAQ:MASI traded up $3.06 during mid-day trading on Wednesday, hitting $165.41. 389,091 shares of the company traded hands, compared to its average volume of 640,502. The stock's fifty day moving average price is $161.93 and its 200-day moving average price is $166.35. Masimo Corporation has a one year low of $101.61 and a one year high of $194.88. The company has a quick ratio of 1.62, a current ratio of 2.17 and a debt-to-equity ratio of 0.67. The firm has a market cap of $8.97 billion, a price-to-earnings ratio of -18.04 and a beta of 1.19.

Masimo (NASDAQ:MASI - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The medical equipment provider reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.12. Masimo had a positive return on equity of 22.56% and a negative net margin of 25.06%. The business had revenue of $372.00 million during the quarter, compared to analyst estimates of $367.79 million. During the same quarter in the previous year, the company posted $0.77 earnings per share. Masimo's revenue for the quarter was down 24.5% on a year-over-year basis. Research analysts anticipate that Masimo Corporation will post 4.1 earnings per share 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.