Perpetual Ltd Sells 9,037 Shares of Masimo Corporation $MASI

Key Points

• Perpetual Ltd reduced its holdings in Masimo Corporation by 29.9%, owning 21,172 shares worth approximately $3.56 million as of their latest filing.
• Masimo's quarterly earnings surpassed estimates, reporting $1.33 EPS against a consensus of $1.22, with revenues increasing by 7.7% year-over-year.
• Analysts have mixed views, with some raising price targets, but the consensus rating for Masimo remains a "Buy" with a target price of around $194.60.

Perpetual Ltd lowered its stake in shares of Masimo Corporation (NASDAQ:MASI - Free Report) by 29.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,172 shares of the medical equipment provider's stock after selling 9,037 shares during the quarter. Perpetual Ltd's holdings in Masimo were worth $3,562,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Massachusetts Financial Services Co. MA grew its holdings in Masimo by 13.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,967,838 shares of the medical equipment provider's stock worth $327,842,000 after buying an additional 232,671 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Masimo by 0.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,673,252 shares of the medical equipment provider's stock valued at $278,764,000 after purchasing an additional 10,876 shares during the period. Durable Capital Partners LP bought a new position in Masimo in the 1st quarter valued at $187,528,000. Alyeska Investment Group L.P. grew its stake in Masimo by 24.9% in the 1st quarter. Alyeska Investment Group L.P. now owns 722,534 shares of the medical equipment provider's stock valued at $120,374,000 after purchasing an additional 143,899 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Masimo by 8.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 703,378 shares of the medical equipment provider's stock valued at $117,172,000 after purchasing an additional 55,658 shares during the period. Institutional investors own 85.96% of the company's stock.

Masimo Price Performance

Shares of Masimo stock traded down $0.40 during trading on Tuesday, hitting $141.73. 228,553 shares of the stock traded hands, compared to its average volume of 633,257. 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 cap of $7.70 billion, a price-to-earnings ratio of -16.69 and a beta of 1.23. The firm's fifty day moving average is $149.74 and its 200-day moving average is $157.38. Masimo Corporation has a 52 week low of $122.94 and a 52 week high of $194.88.

Masimo (NASDAQ:MASI - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The medical equipment provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.22 by $0.11. The firm had revenue of $370.90 million for the quarter, compared to analyst estimates 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 prior year, the company earned $0.86 EPS. Research analysts expect that Masimo Corporation will post 4.1 EPS for the current fiscal year.

Insider Transactions at Masimo

In related news, Director William R. Jellison purchased 3,000 shares of Masimo stock in a transaction that occurred on Monday, August 11th. The shares were acquired at an average cost of $145.98 per share, for a total transaction of $437,940.00. Following the transaction, the director directly owned 4,790 shares in the company, valued at $699,244.20. The trade was a 167.60% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 16.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MASI has been the subject of a number of recent analyst reports. Piper Sandler upped their price objective on Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. BTIG Research restated a "buy" rating and issued a $198.00 price objective on shares of Masimo in a research note on Thursday, September 11th. Zacks Research upgraded Masimo from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. Finally, Wall Street Zen downgraded Masimo from a "buy" rating to a "hold" rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $194.60.

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.