Neuberger Berman Group LLC Sells 63,160 Shares of Masimo Corporation $MASI

Key Points

• Neuberger Berman Group LLC reduced its stake in Masimo Corporation by 45.7%, selling 63,160 shares in the first quarter, and now holds approximately 0.14% of the company, valued at $12.49 million.
• Several hedge funds have increased their positions in Masimo, with Envestnet Asset Management growing its stake by 17.3% and UMB Bank n.a. increasing its stake by 134% during the first quarter.
• Masimo reported earnings of $1.33 per share for the last quarter, exceeding analysts' expectations, with a revenue of $370.9 million, marking a 7.7% year-over-year increase.

Neuberger Berman Group LLC reduced its position in Masimo Corporation (NASDAQ:MASI - Free Report) by 45.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,962 shares of the medical equipment provider's stock after selling 63,160 shares during the quarter. Neuberger Berman Group LLC owned about 0.14% of Masimo worth $12,489,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its stake in shares of Masimo by 128.9% in 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 in the last quarter. NBC Securities Inc. acquired a new position in Masimo during the 1st quarter worth approximately $61,000. UMB Bank n.a. lifted 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 worth $74,000 after acquiring an additional 256 shares in the last quarter. GAMMA Investing LLC lifted 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 worth $123,000 after acquiring an additional 272 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Masimo during the 4th quarter worth approximately $163,000. 85.96% of the stock is owned by institutional investors and hedge funds.

Masimo Trading Down 4.3%

Shares of NASDAQ MASI traded down $6.5570 during mid-day trading on Tuesday, hitting $147.3730. 476,364 shares of the company traded hands, compared to its average volume of 631,908. The business has a 50 day moving average of $160.72 and a two-hundred day moving average of $163.60. The company has a quick ratio of 1.61, a current ratio of 2.14 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of -17.30 and a beta of 1.21. Masimo Corporation has a 1 year low of $107.98 and a 1 year high of $194.88.

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

Wall Street Analysts Forecast Growth

MASI has been the topic of several analyst reports. Wall Street Zen downgraded Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Piper Sandler boosted their price target on Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Raymond James Financial lowered their price target on Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Wells Fargo & Company lowered 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. Finally, BTIG Research reiterated a "buy" rating on shares of Masimo in a report on Thursday. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $193.60.

Insider Buying and Selling

In related news, Director William R. Jellison purchased 3,000 shares of Masimo stock in a transaction that occurred on Monday, August 11th. The stock was purchased at an average cost of $145.98 per share, with a total value of $437,940.00. Following the completion of the transaction, the director owned 4,790 shares of the company's stock, valued at approximately $699,244.20. This trade represents a 167.60% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 16.90% 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.