Amundi Sells 70,314 Shares of Masimo Corporation $MASI

Key Points

• Amundi significantly reduced its stake in Masimo Corporation by 63.1%, now holding 41,167 shares valued at approximately $6.27 million.
• Despite Amundi's sell-off, several institutional investors, like Massachusetts Financial Services and Alyeska Investment Group, increased their holdings in Masimo during the same period.
• Analysts remain optimistic on Masimo, with a consensus rating of Buy and an average price target of $193.60, following positive earnings results.

Amundi cut its holdings in Masimo Corporation (NASDAQ:MASI - Free Report) by 63.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,167 shares of the medical equipment provider's stock after selling 70,314 shares during the quarter. Amundi owned 0.08% of Masimo worth $6,273,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA boosted its stake in Masimo by 13.4% during the first 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 in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Masimo by 0.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,673,252 shares of the medical equipment provider's stock valued at $278,764,000 after purchasing an additional 10,876 shares in the last quarter. Durable Capital Partners LP acquired a new position in shares of Masimo during the first quarter valued at about $187,528,000. Alyeska Investment Group L.P. boosted its position in shares of Masimo by 24.9% during the 1st quarter. Alyeska Investment Group L.P. now owns 722,534 shares of the medical equipment provider's stock worth $120,374,000 after purchasing an additional 143,899 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Masimo by 8.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 703,378 shares of the medical equipment provider's stock valued at $117,172,000 after buying an additional 55,658 shares during the period. Institutional investors and hedge funds own 85.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MASI shares. Zacks Research raised Masimo from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. Wall Street Zen cut Masimo from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. BTIG Research reiterated a "buy" rating and issued a $198.00 target price on shares of Masimo in a report on Thursday, September 11th. Finally, Piper Sandler increased their target price on Masimo from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Masimo has an average rating of "Buy" and an average price target of $194.60.

Masimo Stock Down 1.9%

NASDAQ MASI traded down $2.72 on Tuesday, reaching $143.00. The company had a trading volume of 770,677 shares, compared to its average volume of 588,242. 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's fifty day moving average is $151.54 and its 200 day moving average is $158.68. Masimo Corporation has a 52-week low of $111.03 and a 52-week high of $194.88. The stock has a market capitalization of $7.77 billion, a P/E ratio of -16.78 and a beta of 1.23.

Masimo (NASDAQ:MASI - Get Free Report) last posted its 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 firm 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 business's revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.86 EPS. Sell-side analysts anticipate that Masimo Corporation will post 4.1 earnings per share for the current fiscal year.

Insider Transactions at Masimo

In other news, Director William R. Jellison acquired 3,000 shares of the firm's stock in a transaction on Monday, August 11th. The stock was purchased at an average price of $145.98 per share, for a total transaction of $437,940.00. Following the purchase, the director owned 4,790 shares in the company, valued at approximately $699,244.20. This represents a 167.60% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 16.90% of the company's stock.

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.