Montanaro Asset Management Ltd Sells 14,200 Shares of Masimo Corporation (NASDAQ:MASI)

Key Points

• Montanaro Asset Management Ltd reduced its stake in Masimo Corporation by 30.5%, now holding 32,300 shares valued at approximately $5.38 million, making Masimo its 27th largest position.
• Masimo reported $1.33 EPS for the last quarter, exceeding estimates by $0.11, and experienced a 7.7% revenue increase year-over-year.
• In recent analyst updates, shares of Masimo received mixed ratings, with a consensus target price of $193.60 and varying outlooks from firms like Wells Fargo and BTIG Research.

Montanaro Asset Management Ltd trimmed its position in shares of Masimo Corporation (NASDAQ:MASI - Free Report) by 30.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 32,300 shares of the medical equipment provider's stock after selling 14,200 shares during the quarter. Masimo comprises about 1.6% of Montanaro Asset Management Ltd's holdings, making the stock its 27th biggest holding. Montanaro Asset Management Ltd owned 0.06% of Masimo worth $5,381,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MASI. Farther Finance Advisors LLC grew its position in Masimo by 128.9% during the 1st 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 last quarter. NBC Securities Inc. purchased a new stake in Masimo during the 1st quarter valued at about $61,000. UMB Bank n.a. grew its position in Masimo by 134.0% during the 1st quarter. UMB Bank n.a. now owns 447 shares of the medical equipment provider's stock valued at $74,000 after purchasing an additional 256 shares during the last quarter. GAMMA Investing LLC grew its position in Masimo by 58.4% during the 1st quarter. GAMMA Investing LLC now owns 738 shares of the medical equipment provider's stock valued at $123,000 after purchasing an additional 272 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Masimo during the 4th quarter valued at about $163,000. 85.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Masimo

In other Masimo news, Director William R. Jellison acquired 3,000 shares of the stock in a transaction dated 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 purchase, the director directly owned 4,790 shares of the company's stock, valued at approximately $699,244.20. This trade represents a 167.60% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 9.70% of the stock is owned by company insiders.

Masimo Stock Performance

Shares of NASDAQ:MASI traded down $4.09 during trading on Thursday, hitting $151.87. The company's stock had a trading volume of 970,159 shares, compared to its average volume of 834,462. The company has a 50-day moving average of $161.44 and a 200-day moving average of $164.11. Masimo Corporation has a 12 month low of $107.98 and a 12 month high of $194.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.14 and a quick ratio of 1.61. The firm has a market cap of $8.25 billion, a price-to-earnings ratio of -17.83 and a beta of 1.21.

Masimo (NASDAQ:MASI - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The medical equipment provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.11. Masimo had a negative net margin of 24.85% and a positive return on equity of 26.54%. The firm had revenue of $370.90 million for the quarter, compared to analysts' expectations of $368.65 million. During the same quarter in the prior year, the business earned $0.86 EPS. The business's quarterly revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts expect that Masimo Corporation will post 4.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MASI. Wall Street Zen downgraded shares of Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. BTIG Research reaffirmed a "buy" rating on shares of Masimo in a report on Thursday. Wells Fargo & Company dropped their price target on shares of Masimo from $205.00 to $190.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Piper Sandler raised their price target on shares of Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Finally, Raymond James Financial dropped their price target on shares of Masimo from $204.00 to $185.00 and set an "outperform" 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 assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $193.60.

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.