Teacher Retirement System of Texas Decreases Stake in Masimo Corporation (NASDAQ:MASI)

Teacher Retirement System of Texas decreased its position in Masimo Corporation (NASDAQ:MASI - Free Report) by 21.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MASI. Jones Financial Companies Lllp acquired a new stake in Masimo during the fourth quarter worth approximately $27,000. Farther Finance Advisors LLC raised its holdings in Masimo by 128.9% during the first 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 in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Masimo by 40.0% during the fourth 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 in the last quarter. Smartleaf Asset Management LLC raised its holdings in Masimo by 31.6% during the fourth 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 in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Masimo during the fourth quarter worth approximately $46,000. Institutional investors and hedge funds own 85.96% of the company's stock.

Insiders Place Their Bets

In related news, COO Bilal Muhsin sold 10,000 shares of Masimo stock in a transaction 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 transaction, the chief operating officer directly owned 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 filing with the SEC, which is available at the SEC website. 9.70% of the stock is currently owned by company insiders.

Masimo Stock Performance

Shares of Masimo stock traded up $0.91 during trading on Thursday, reaching $166.32. The company's stock had a trading volume of 356,274 shares, compared to its average volume of 639,369. The company has a 50-day moving average price of $161.93 and a two-hundred day moving average price of $166.35. The firm has a market cap of $9.02 billion, a PE ratio of -18.14 and a beta of 1.19. Masimo Corporation has a fifty-two week low of $101.61 and a fifty-two week high of $194.88. The company has a current ratio of 2.17, a quick ratio of 1.62 and a debt-to-equity ratio of 0.67.

Masimo (NASDAQ:MASI - Get Free Report) last posted its quarterly earnings data 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 period last year, the firm posted $0.77 EPS. Masimo's quarterly revenue was down 24.5% on a year-over-year basis. On average, analysts forecast that Masimo Corporation will post 4.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MASI shares. Raymond James Financial cut their price objective 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. Piper Sandler reissued an "overweight" rating and set a $200.00 price objective (down previously from $215.00) on shares of Masimo in a report on Wednesday, May 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Masimo in a report on Thursday, April 10th. Wall Street Zen cut shares of Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Wells Fargo & Company cut their target price 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. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Masimo presently has an average rating of "Moderate Buy" and a consensus price target of $191.60.

Masimo 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.