Rhumbline Advisers Has $20.46 Million Stock Holdings in Masimo Co. (NASDAQ:MASI)

Rhumbline Advisers lessened its holdings in shares of Masimo Co. (NASDAQ:MASI - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,811 shares of the medical equipment provider's stock after selling 1,562 shares during the quarter. Rhumbline Advisers owned approximately 0.23% of Masimo worth $20,460,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. FMR LLC grew its stake in shares of Masimo by 19.8% in the 4th 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 grew 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 buying an additional 1,094,647 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Masimo by 119.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,735,167 shares of the medical equipment provider's stock worth $286,823,000 after purchasing an additional 943,001 shares during the period. Alliancebernstein L.P. boosted its position in Masimo by 1,276.9% during the fourth quarter. Alliancebernstein L.P. now owns 947,391 shares of the medical equipment provider's stock worth $156,604,000 after purchasing an additional 878,587 shares during the period. Finally, Corient Private Wealth LLC boosted its position in Masimo by 8,847.1% during the fourth 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 during the period. Institutional investors own 85.96% of the company's stock.

Masimo Stock Performance

Shares of MASI stock traded up $7.25 during trading hours on Friday, reaching $171.97. 910,113 shares of the company's stock were exchanged, compared to its average volume of 644,718. Masimo Co. has a fifty-two week low of $101.61 and a fifty-two week high of $194.88. The stock has a market capitalization of $9.32 billion, a P/E ratio of 118.60 and a beta of 1.19. The business has a fifty day moving average price of $157.05 and a 200-day moving average price of $167.29. The company has a quick ratio of 1.11, a current ratio of 2.01 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 EPS 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 analysts' expectations of $367.79 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. Masimo's quarterly revenue was down 24.5% compared to the same quarter last year. During the same period last year, the business earned $0.77 earnings per share. Analysts predict that Masimo Co. will post 4.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Bilal Muhsin sold 10,000 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $163.28, for a total value of $1,632,800.00. Following the completion of the transaction, the chief operating officer now directly owns 24,172 shares of the company's stock, valued at $3,946,804.16. This trade represents a 29.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Craig B. Reynolds sold 2,053 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $166.13, for a total value of $341,064.89. Following the transaction, the director now owns 16,581 shares of the company's stock, valued at $2,754,601.53. This represents a 11.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,053 shares of company stock valued at $6,998,565 over the last ninety days. 9.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on MASI. BTIG Research set a $193.00 target price on Masimo and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Raymond James decreased their target price on Masimo from $204.00 to $185.00 and set an "outperform" rating for the company 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. Piper Sandler reaffirmed an "overweight" rating and set a $200.00 target price (down previously from $215.00) on shares of Masimo in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company decreased 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. Two 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 presently has an average rating of "Moderate Buy" and an average target price of $191.60.

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.