Invesco Ltd. Sells 16,602 Shares of Masimo Corporation $MASI

Key Points

• Invesco Ltd. reduced its stake in Masimo Corporation (NASDAQ:MASI) by 6.0% in Q1, selling 16,602 shares and now owns approximately $43.5 million worth of the company.
• Multiple analysts have varying ratings on MASI, with BTIG Research maintaining a "buy" rating while others, like Wall Street Zen, downgraded it to a "hold"; the analysts' average price target is set at $193.60.
• Director William R. Jellison significantly increased his position by acquiring 3,000 shares at $145.98 each, boosting his total ownership to around $699,244.

Invesco Ltd. trimmed its holdings in Masimo Corporation (NASDAQ:MASI - Free Report) by 6.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 261,358 shares of the medical equipment provider's stock after selling 16,602 shares during the quarter. Invesco Ltd. owned about 0.48% of Masimo worth $43,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in MASI. Capital Research Global Investors lifted its stake in shares of Masimo by 80.5% in the 4th quarter. Capital Research Global Investors now owns 2,454,975 shares of the medical equipment provider's stock valued at $405,807,000 after purchasing an additional 1,094,647 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of 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 purchasing an additional 232,671 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Masimo by 259.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 250,786 shares of the medical equipment provider's stock valued at $41,456,000 after purchasing an additional 181,070 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Masimo by 8.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,662,376 shares of the medical equipment provider's stock valued at $274,791,000 after purchasing an additional 135,888 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Masimo by 26,284.3% in the 1st quarter. GAMMA Investing LLC now owns 122,951 shares of the medical equipment provider's stock valued at $20,484,000 after purchasing an additional 122,485 shares during the period. 85.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MASI has been the topic of a number of recent analyst reports. BTIG Research reissued a "buy" rating on shares of Masimo in a research note on Thursday, August 14th. Raymond James Financial decreased their target price on 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 lowered Masimo from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Piper Sandler boosted their target price on Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company decreased their target price on Masimo from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $193.60.

Insider Activity

In related news, Director William R. Jellison bought 3,000 shares of the company's stock in a transaction on Monday, August 11th. The shares were purchased at an average price of $145.98 per share, for a total transaction of $437,940.00. Following the completion of the transaction, the director directly owned 4,790 shares in the company, valued at approximately $699,244.20. The trade was a 167.60% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 9.70% of the stock is currently owned by corporate insiders.

Masimo Stock Up 3.1%

MASI traded up $4.49 during midday trading on Friday, reaching $148.73. 81,004 shares of the company were exchanged, compared to its average volume of 632,660. The company has a market cap of $8.08 billion, a price-to-earnings ratio of -17.46 and a beta of 1.21. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.61 and a current ratio of 2.14. The company's fifty day moving average price is $159.45 and its 200 day moving average price is $163.17. Masimo Corporation has a one year low of $107.98 and a one year high of $194.88.

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