New York State Teachers Retirement System Sells 5,200 Shares of Masimo Corporation (NASDAQ:MASI)

New York State Teachers Retirement System lessened its stake in Masimo Corporation (NASDAQ:MASI - Free Report) by 11.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,048 shares of the medical equipment provider's stock after selling 5,200 shares during the quarter. New York State Teachers Retirement System owned approximately 0.07% of Masimo worth $6,672,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MASI. Envestnet Asset Management Inc. lifted its stake in Masimo by 17.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 31,107 shares of the medical equipment provider's stock valued at $5,142,000 after acquiring an additional 4,579 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Masimo by 58.4% in the first 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. Proficio Capital Partners LLC bought a new position in shares of Masimo during the fourth quarter valued at about $7,733,000. Charles Schwab Investment Management Inc. boosted its holdings in Masimo by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 377,836 shares of the medical equipment provider's stock worth $62,456,000 after purchasing an additional 7,808 shares during the last quarter. Finally, Atria Investments Inc bought a new stake in Masimo in the 4th quarter worth about $335,000. Hedge funds and other institutional investors own 85.96% of the company's stock.

Insider Activity at Masimo

In related news, COO Bilal Muhsin sold 10,000 shares of the firm's stock in a transaction dated 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 transaction, the chief operating officer directly owned 24,172 shares of the company's stock, valued at approximately $3,946,804.16. This trade represents a 29.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 16.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MASI has been the topic of a number of research analyst reports. Wall Street Zen downgraded Masimo from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Raymond James Financial cut their price objective on Masimo from $204.00 to $185.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Masimo in a research report on Thursday, April 10th. BTIG Research set a $193.00 price target on shares of Masimo and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, Wells Fargo & Company reduced their price target on shares of Masimo from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $191.60.

Masimo Stock Performance

Shares of MASI traded down $5.12 during mid-day trading on Monday, hitting $162.45. The stock had a trading volume of 832,123 shares, compared to its average volume of 640,060. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.17 and a quick ratio of 1.62. The firm has a market cap of $8.81 billion, a P/E ratio of -17.72 and a beta of 1.19. Masimo Corporation has a 52 week low of $101.61 and a 52 week high of $194.88. The business has a fifty day moving average price of $161.86 and a 200-day moving average price of $166.39.

Masimo (NASDAQ:MASI - Get Free Report) last posted its earnings results on Tuesday, May 6th. The medical equipment provider reported $1.36 earnings per share 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 the consensus estimate of $367.79 million. Masimo had a negative net margin of 25.06% and a positive return on equity of 22.56%. The company's revenue was down 24.5% on a year-over-year basis. During the same quarter last year, the company earned $0.77 earnings per share. On average, equities research analysts expect that Masimo Corporation will post 4.1 EPS for the current year.

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.