Citigroup Inc. Sells 39,533 Shares of Masimo Corporation $MASI

Key Points

• Citigroup Inc. reduced its stake in Masimo Corporation by 43.1% in the first quarter, owning approximately 0.10% of the company valued at $8.69 million after selling 39,533 shares.
• Masimo reported earnings of $1.33 per share for the last quarter, surpassing analyst expectations of $1.22, alongside a revenue increase of 7.7% year-over-year.
• In recent stock movement, Masimo's shares opened at $153.87 and it has a market capitalization of $8.36 billion, with institutional investors owning 85.96% of the company’s stock.

Citigroup Inc. lowered its position in Masimo Corporation (NASDAQ:MASI - Free Report) by 43.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,158 shares of the medical equipment provider's stock after selling 39,533 shares during the quarter. Citigroup Inc. owned approximately 0.10% of Masimo worth $8,690,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MASI. Capital Research Global Investors lifted its position in shares of Masimo by 80.5% in the fourth quarter. Capital Research Global Investors now owns 2,454,975 shares of the medical equipment provider's stock worth $405,807,000 after buying an additional 1,094,647 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Masimo by 13.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,967,838 shares of the medical equipment provider's stock worth $327,842,000 after purchasing an additional 232,671 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Masimo by 259.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 250,786 shares of the medical equipment provider's stock worth $41,456,000 after purchasing an additional 181,070 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Masimo by 8.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,662,376 shares of the medical equipment provider's stock worth $274,791,000 after purchasing an additional 135,888 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Masimo by 26,284.3% during the 1st quarter. GAMMA Investing LLC now owns 122,951 shares of the medical equipment provider's stock worth $20,484,000 after purchasing an additional 122,485 shares in the last quarter. Institutional investors and hedge funds own 85.96% of the company's stock.

Insider Activity

In other news, Director William R. Jellison acquired 3,000 shares of Masimo stock in a transaction dated Monday, August 11th. The stock was bought at an average price of $145.98 per share, for a total transaction of $437,940.00. Following the completion of the acquisition, 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 the SEC website. 9.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MASI has been the subject of a number of recent research reports. Wall Street Zen cut Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Piper Sandler increased their price objective on Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. BTIG Research reiterated a "buy" rating on shares of Masimo in a research report on Thursday, August 14th. Wells Fargo & Company reduced their price target on Masimo from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Finally, Raymond James Financial reduced their target price on Masimo from $204.00 to $185.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $193.60.

Masimo Stock Performance

NASDAQ MASI traded down $1.41 during trading on Thursday, reaching $144.24. 721,423 shares of the company's stock were exchanged, compared to its average volume of 885,204. The business has a 50 day moving average price of $159.45 and a 200-day moving average price of $163.17. The stock has a market capitalization of $7.84 billion, a P/E ratio of -16.93 and a beta of 1.21. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.14 and a quick ratio of 1.61. Masimo Corporation has a fifty-two week low of $107.98 and a fifty-two week high of $194.88.

Masimo (NASDAQ:MASI - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The medical equipment provider reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $370.90 million for the quarter, compared to the consensus estimate of $368.65 million. During the same quarter in the previous year, the business earned $0.86 earnings per share. The business's revenue was up 7.7% compared to the same quarter last year. Sell-side analysts forecast that Masimo Corporation will post 4.1 earnings per share for the current fiscal year.

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.