South Dakota Investment Council Sells 5,843 Shares of Masimo Corporation (NASDAQ:MASI)

South Dakota Investment Council lowered its stake in shares of Masimo Corporation (NASDAQ:MASI - Free Report) by 19.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,768 shares of the medical equipment provider's stock after selling 5,843 shares during the quarter. South Dakota Investment Council's holdings in Masimo were worth $4,126,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. FMR LLC grew its stake in 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 purchasing an additional 1,340,836 shares during the period. Capital Research Global Investors grew its stake in 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 purchasing an additional 1,094,647 shares during the period. Massachusetts Financial Services Co. MA lifted its position 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 buying an additional 943,001 shares during the last quarter. Alliancebernstein L.P. lifted its position 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 buying an additional 878,587 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Masimo during the 4th quarter valued at $33,716,000. Institutional investors own 85.96% of the company's stock.

Masimo Stock Performance

Shares of MASI stock opened at $154.47 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.62 and a current ratio of 2.17. Masimo Corporation has a fifty-two week low of $101.61 and a fifty-two week high of $194.88. The stock has a 50 day moving average price of $162.09 and a two-hundred day moving average price of $165.97. The company has a market capitalization of $8.38 billion, a P/E ratio of -16.85 and a beta of 1.19.

Masimo (NASDAQ:MASI - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The medical equipment provider reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.12. Masimo had a positive return on equity of 22.56% and a negative net margin of 25.06%. The firm had revenue of $372.00 million during the quarter, compared to the consensus estimate of $367.79 million. During the same quarter in the previous year, the company posted $0.77 earnings per share. The business's revenue was down 24.5% on a year-over-year basis. Analysts expect that Masimo Corporation will post 4.1 earnings per share for the current year.

Insider Buying and Selling at Masimo

In other news, COO Bilal Muhsin sold 10,000 shares of Masimo stock in a transaction that occurred 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 sale, the chief operating officer directly owned 24,172 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.70% of the company's stock.

Analyst Ratings Changes

MASI has been the topic of a number of recent research reports. Needham & Company LLC reissued a "hold" rating on shares of Masimo in a report on Thursday, April 10th. BTIG Research reissued a "buy" rating on shares of Masimo in a report on Monday, July 14th. Wall Street Zen cut Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Raymond James Financial dropped their price objective on Masimo from $204.00 to $185.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Finally, Wells Fargo & Company dropped their price objective on Masimo from $205.00 to $190.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Masimo has an average rating of "Moderate Buy" and an average target price of $191.60.

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.

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