Masimo Corporation (NASDAQ:MASI) Stock Position Lowered by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its position in Masimo Corporation (NASDAQ:MASI - Free Report) by 98.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,379 shares of the medical equipment provider's stock after selling 211,672 shares during the period. Assenagon Asset Management S.A.'s holdings in Masimo were worth $730,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its position in shares of Masimo by 31.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 250 shares of the medical equipment provider's stock worth $42,000 after acquiring an additional 60 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Masimo by 40.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 224 shares of the medical equipment provider's stock worth $37,000 after purchasing an additional 64 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Masimo by 0.8% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,815 shares of the medical equipment provider's stock worth $1,622,000 after purchasing an additional 82 shares during the period. Thrivent Financial for Lutherans increased its stake in Masimo by 0.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 10,456 shares of the medical equipment provider's stock valued at $1,728,000 after purchasing an additional 83 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in Masimo by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 1,631 shares of the medical equipment provider's stock valued at $270,000 after purchasing an additional 87 shares during the last quarter. 85.96% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Masimo news, COO Bilal Muhsin sold 10,000 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $163.28, for a total transaction of $1,632,800.00. Following the sale, the chief operating officer now directly owns 24,172 shares in the company, valued at approximately $3,946,804.16. The trade was a 29.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 9.70% of the stock is currently owned by insiders.

Masimo Stock Performance

Masimo stock traded up $3.45 during midday trading on Thursday, reaching $162.77. 362,348 shares of the stock traded hands, compared to its average volume of 640,082. Masimo Corporation has a fifty-two week low of $101.61 and a fifty-two week high of $194.88. The company has a current ratio of 2.17, a quick ratio of 1.62 and a debt-to-equity ratio of 0.67. The firm has a market cap of $8.83 billion, a price-to-earnings ratio of -17.75 and a beta of 1.19. The firm has a fifty day moving average price of $158.65 and a two-hundred day moving average price of $166.93.

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 for the quarter, beating analysts' consensus estimates 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 company had revenue of $372.00 million for the quarter, compared to analysts' expectations of $367.79 million. During the same quarter in the previous year, the company posted $0.77 earnings per share. The business's revenue for the quarter was down 24.5% compared to the same quarter last year. On average, equities research analysts forecast that Masimo Corporation will post 4.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. BTIG Research set a $193.00 price target on shares of Masimo and gave the company a "buy" rating in a report on Wednesday, May 7th. Piper Sandler reissued an "overweight" rating and issued a $200.00 target price (down previously from $215.00) on shares of Masimo in a report on Wednesday, May 7th. Raymond James Financial lowered their target price on Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Wall Street Zen cut Masimo from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Wells Fargo & Company cut their price target on Masimo from $205.00 to $190.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $191.60.

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.