Assenagon Asset Management S.A. Sells 211,672 Shares of Masimo Corporation (NASDAQ:MASI)

Assenagon Asset Management S.A. cut its holdings in shares of Masimo Corporation (NASDAQ:MASI - Free Report) by 98.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,379 shares of the medical equipment provider's stock after selling 211,672 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Masimo were worth $730,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new stake in shares of Masimo in the 4th quarter valued at about $27,000. Farther Finance Advisors LLC increased its stake in Masimo by 128.9% in the 1st quarter. Farther Finance Advisors LLC now owns 206 shares of the medical equipment provider's stock worth $35,000 after purchasing an additional 116 shares during the period. EverSource Wealth Advisors LLC lifted its position in Masimo by 40.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 224 shares of the medical equipment provider's stock valued at $37,000 after purchasing an additional 64 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Masimo by 31.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 250 shares of the medical equipment provider's stock valued at $42,000 after purchasing an additional 60 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Masimo during the fourth quarter valued at approximately $46,000. 85.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, COO Bilal Muhsin sold 10,000 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer now owns 24,172 shares in the company, valued at $3,946,804.16. This trade represents a 29.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 9.70% of the company's stock.

Masimo Trading Up 1.5%

Masimo stock traded up $2.41 during mid-day trading on Friday, reaching $165.18. 630,756 shares of the company traded hands, compared to its average volume of 639,509. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.17 and a quick ratio of 1.62. Masimo Corporation has a 52-week low of $101.61 and a 52-week high of $194.88. The firm has a market capitalization of $8.96 billion, a price-to-earnings ratio of -18.01 and a beta of 1.19. The firm's 50 day moving average price is $159.10 and its 200 day moving average price is $166.77.

Masimo (NASDAQ:MASI - Get Free Report) last announced its 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 negative net margin of 25.06% and a positive return on equity of 22.56%. The firm had revenue of $372.00 million for the quarter, compared to analyst estimates of $367.79 million. During the same quarter in the previous year, the firm posted $0.77 EPS. The company's revenue for the quarter was down 24.5% compared to the same quarter last year. On average, analysts anticipate that Masimo Corporation will post 4.1 earnings per share for the current fiscal year.

About Masimo

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.