Masimo Corporation (NASDAQ:MASI) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in Masimo Corporation (NASDAQ:MASI - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 332,108 shares of the medical equipment provider's stock after selling 5,113 shares during the period. Bank of New York Mellon Corp owned about 0.61% of Masimo worth $55,329,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Jones Financial Companies Lllp purchased a new stake in Masimo in the 4th quarter valued at $27,000. Farther Finance Advisors LLC increased its stake in Masimo by 128.9% in the first quarter. Farther Finance Advisors LLC now owns 206 shares of the medical equipment provider's stock valued at $35,000 after purchasing an additional 116 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of 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 buying an additional 64 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of Masimo during the first quarter worth about $61,000. Finally, UMB Bank n.a. grew its holdings in shares of Masimo by 134.0% during the first quarter. UMB Bank n.a. now owns 447 shares of the medical equipment provider's stock worth $74,000 after buying an additional 256 shares during the last quarter. Hedge funds and other institutional investors own 85.96% of the company's stock.

Analyst Upgrades and Downgrades

MASI has been the subject of several analyst reports. BTIG Research reaffirmed a "buy" rating on shares of Masimo in a research note on Monday. Wells Fargo & Company dropped their target price on Masimo from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Wall Street Zen cut Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Needham & Company LLC restated a "hold" rating on shares of Masimo in a research note on Thursday, April 10th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $200.00 price objective (down previously from $215.00) on shares of Masimo in a research report on Wednesday, May 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $191.60.

Masimo Trading Down 0.8%

Shares of MASI traded down $1.30 on Monday, hitting $161.69. 556,039 shares of the stock traded hands, compared to its average volume of 604,899. Masimo Corporation has a 1 year low of $101.61 and a 1 year high of $194.88. The stock's 50 day moving average is $161.91 and its two-hundred day moving average is $166.26. The firm has a market capitalization of $8.77 billion, a P/E ratio of -17.63 and a beta of 1.19. The company has a quick ratio of 1.62, a current ratio of 2.17 and a debt-to-equity ratio of 0.67.

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

Insider Buying and Selling at Masimo

In related news, COO Bilal Muhsin sold 10,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $163.28, for a total value of $1,632,800.00. Following the completion of the sale, the chief operating officer directly owned 24,172 shares in the company, valued at approximately $3,946,804.16. The trade was a 29.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.70% of the stock is currently owned by insiders.

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.