Rhumbline Advisers Cuts Stock Holdings in Masimo Co. (NASDAQ:MASI)

Rhumbline Advisers lowered its holdings in shares of Masimo Co. (NASDAQ:MASI - Free Report) by 1.3% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 122,811 shares of the medical equipment provider's stock after selling 1,562 shares during the period. Rhumbline Advisers owned about 0.23% of Masimo worth $20,460,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC boosted its position in Masimo by 19.8% in the fourth quarter. FMR LLC now owns 8,097,454 shares of the medical equipment provider's stock valued at $1,338,509,000 after buying an additional 1,340,836 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Masimo by 80.5% in the 4th quarter. Capital Research Global Investors now owns 2,454,975 shares of the medical equipment provider's stock valued at $405,807,000 after acquiring an additional 1,094,647 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Masimo by 119.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,735,167 shares of the medical equipment provider's stock valued at $286,823,000 after acquiring an additional 943,001 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Masimo by 1,276.9% during the 4th quarter. Alliancebernstein L.P. now owns 947,391 shares of the medical equipment provider's stock valued at $156,604,000 after acquiring an additional 878,587 shares in the last quarter. Finally, Corient Private Wealth LLC increased its holdings in Masimo by 8,847.1% in the 4th quarter. Corient Private Wealth LLC now owns 347,683 shares of the medical equipment provider's stock worth $57,472,000 after purchasing an additional 343,797 shares in the last quarter. 85.96% of the stock is currently owned by institutional investors.

Masimo Trading Down 2.2%

Shares of NASDAQ MASI traded down $3.85 during midday trading on Tuesday, reaching $168.03. The stock had a trading volume of 654,126 shares, compared to its average volume of 645,962. The company's 50 day moving average price is $157.37 and its 200 day moving average price is $167.30. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01. Masimo Co. has a twelve month low of $101.61 and a twelve month high of $194.88. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of 115.88 and a beta of 1.19.

Masimo (NASDAQ:MASI - Get Free Report) last released its earnings results on Tuesday, May 6th. The medical equipment provider reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.12. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The business had revenue of $372.00 million for the quarter, compared to analyst estimates of $367.79 million. During the same quarter in the previous year, the business earned $0.77 earnings per share. Masimo's revenue for the quarter was down 24.5% on a year-over-year basis. As a group, sell-side analysts expect that Masimo Co. will post 4.1 EPS for the current year.

Wall Street Analysts Forecast Growth

MASI has been the topic of a number of recent research reports. Raymond James cut their price target on Masimo from $204.00 to $185.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Wall Street Zen lowered shares of Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Needham & Company LLC restated 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, Piper Sandler reissued an "overweight" rating and issued a $200.00 price objective (down previously from $215.00) on shares of Masimo in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $191.60.

Insiders Place Their Bets

In other Masimo news, COO Bilal Muhsin sold 10,000 shares of the firm's 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 completion of the sale, the chief operating officer now directly owns 24,172 shares in the company, valued at approximately $3,946,804.16. This trade represents a 29.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Craig B. Reynolds sold 2,053 shares of the company's stock in a transaction dated 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 $2,754,601.53. This represents a 11.02% decrease in their position. The disclosure for this sale can be found here. 9.70% of the stock is currently owned by corporate insiders.

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.