Nuveen Asset Management LLC Sells 7,973 Shares of Masimo Co. (NASDAQ:MASI)

Nuveen Asset Management LLC reduced its stake in Masimo Co. (NASDAQ:MASI - Free Report) by 9.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,754 shares of the medical equipment provider's stock after selling 7,973 shares during the period. Nuveen Asset Management LLC owned about 0.14% of Masimo worth $12,522,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MASI. Smartleaf Asset Management LLC grew its stake in shares of 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 buying an additional 60 shares during the last quarter. EverSource Wealth Advisors LLC increased 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 in the last quarter. Blue Trust Inc. raised its position in Masimo by 56.3% in the fourth quarter. Blue Trust Inc. now owns 197 shares of the medical equipment provider's stock valued at $33,000 after purchasing an additional 71 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Masimo by 0.8% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,815 shares of the medical equipment provider's stock valued at $1,622,000 after purchasing an additional 82 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Masimo by 0.8% during the fourth 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. 85.96% of the stock is owned by institutional investors.

Masimo Trading Up 3.0%

MASI stock traded up $4.66 during mid-day trading on Friday, reaching $161.63. The company's stock had a trading volume of 581,959 shares, compared to its average volume of 599,621. The company has a market cap of $8.76 billion, a price-to-earnings ratio of 111.47 and a beta of 1.23. Masimo Co. has a 12 month low of $101.61 and a 12 month high of $194.88. The business's 50 day moving average price is $157.30 and its 200 day moving average price is $167.14. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50.

Masimo (NASDAQ:MASI - Get Free Report) last issued its earnings results 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 business had revenue of $372.00 million for the quarter, compared to analyst estimates of $367.79 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. Masimo's revenue was down 24.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 earnings per share. On average, equities research analysts predict that Masimo Co. will post 4.1 EPS for the current year.

Wall Street Analyst Weigh In

MASI has been the topic of a number of research reports. BTIG Research set a $193.00 target price on shares of Masimo and gave the stock a "buy" rating in a report on Wednesday, May 7th. Wells Fargo & Company lowered their target price on Masimo from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Raymond James reduced their price target 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 restated a "hold" rating on shares of Masimo in a research report on Thursday, April 10th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $200.00 price objective (down from $215.00) on shares of Masimo in a research note on Wednesday, May 7th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Masimo presently has an average rating of "Moderate Buy" and an average target price of $191.60.

Insider Activity at Masimo

In other Masimo news, Director Craig B. Reynolds sold 2,053 shares of the company's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $166.13, for a total transaction of $341,064.89. Following the transaction, the director now owns 16,581 shares in the company, valued at approximately $2,754,601.53. This represents a 11.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Bilal Muhsin sold 30,000 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $167.49, for a total transaction of $5,024,700.00. Following the sale, the chief operating officer now directly owns 24,172 shares of the company's stock, valued at approximately $4,048,568.28. The trade was a 55.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,053 shares of company stock valued at $6,998,565 in the last three months. Corporate insiders own 9.70% of the company's stock.

About Masimo

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.