Teacher Retirement System of Texas Sells 3,671 Shares of Masimo Corporation (NASDAQ:MASI)

Teacher Retirement System of Texas reduced its stake in Masimo Corporation (NASDAQ:MASI - Free Report) by 21.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 13,263 shares of the medical equipment provider's stock after selling 3,671 shares during the quarter. Teacher Retirement System of Texas' holdings in Masimo were worth $2,210,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC lifted its holdings in 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 purchasing an additional 60 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Masimo by 40.0% in the 4th 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 lifted its holdings in Masimo by 0.8% in the 4th 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 last quarter. Thrivent Financial for Lutherans lifted its holdings in Masimo by 0.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 10,456 shares of the medical equipment provider's stock worth $1,728,000 after purchasing an additional 83 shares during the last quarter. Finally, Orion Portfolio Solutions LLC lifted its holdings in shares of Masimo by 2.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 4,778 shares of the medical equipment provider's stock worth $790,000 after buying an additional 97 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Masimo Price Performance

Masimo stock traded down $3.79 during mid-day trading on Friday, hitting $162.53. 96,670 shares of the company were exchanged, compared to its average volume of 637,823. The company has a quick ratio of 1.62, a current ratio of 2.17 and a debt-to-equity ratio of 0.67. The business has a fifty day moving average of $161.98 and a 200 day moving average of $166.34. Masimo Corporation has a 1-year low of $101.61 and a 1-year high of $194.88. The company has a market capitalization of $8.81 billion, a PE ratio of -17.72 and a beta of 1.19.

Masimo (NASDAQ:MASI - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The medical equipment provider reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.12. The firm had revenue of $372.00 million during 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 period in the prior year, the company posted $0.77 earnings per share. As a group, 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 commented on MASI. Wells Fargo & Company cut their price target on Masimo from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. BTIG Research set a $193.00 price target on Masimo and gave the stock a "buy" rating in a report on Wednesday, May 7th. Piper Sandler restated an "overweight" rating and issued a $200.00 target price (down from $215.00) on shares of Masimo in a research note on Wednesday, May 7th. Wall Street Zen lowered Masimo from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Needham & Company LLC restated a "hold" rating on shares of Masimo in a research note on Thursday, April 10th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Masimo has a consensus rating of "Moderate Buy" and an average target price of $191.60.

Insider Activity at Masimo

In other news, COO Bilal Muhsin sold 10,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $163.28, for a total transaction of $1,632,800.00. Following the sale, the chief operating officer owned 24,172 shares in the company, valued at approximately $3,946,804.16. This represents a 29.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.70% of the company's stock.

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.