Two Sigma Investments LP Sells 302,938 Shares of Masimo Co. (NASDAQ:MASI)

Two Sigma Investments LP cut its stake in shares of Masimo Co. (NASDAQ:MASI - Free Report) by 88.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,889 shares of the medical equipment provider's stock after selling 302,938 shares during the quarter. Two Sigma Investments LP owned 0.07% of Masimo worth $6,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Tidal Investments LLC boosted its holdings in shares of Masimo by 3,530.4% during the fourth quarter. Tidal Investments LLC now owns 86,731 shares of the medical equipment provider's stock worth $14,337,000 after purchasing an additional 84,342 shares during the period. Tema Etfs LLC bought a new position in Masimo during the 4th quarter valued at approximately $1,584,000. Polar Capital Holdings Plc bought a new position in Masimo during the 4th quarter valued at approximately $996,000. ProShare Advisors LLC lifted its holdings in Masimo by 7.9% in the 4th quarter. ProShare Advisors LLC now owns 2,078 shares of the medical equipment provider's stock worth $343,000 after buying an additional 153 shares during the period. Finally, Quantinno Capital Management LP grew its position in shares of Masimo by 89.1% in the 4th quarter. Quantinno Capital Management LP now owns 3,990 shares of the medical equipment provider's stock worth $660,000 after buying an additional 1,880 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Masimo

In other news, COO Bilal Muhsin sold 30,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $167.49, for a total value of $5,024,700.00. Following the transaction, the chief operating officer now owns 24,172 shares in the company, valued at $4,048,568.28. This represents a 55.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Craig B. Reynolds sold 2,053 shares of the business's stock in a transaction that occurred 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 sale, the director now owns 16,581 shares of the company's stock, valued at $2,754,601.53. This trade represents a 11.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,053 shares of company stock worth $6,998,565. Company insiders own 9.70% of the company's stock.

Masimo Stock Up 3.0%

MASI traded up $4.76 during midday trading on Friday, reaching $161.73. The company's stock had a trading volume of 646,186 shares, compared to its average volume of 650,862. Masimo Co. has a 1 year low of $101.61 and a 1 year high of $194.88. The stock's 50-day moving average is $157.30 and its 200-day moving average is $167.14. The firm has a market capitalization of $8.77 billion, a price-to-earnings ratio of 111.61 and a beta of 1.23. 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 posted its quarterly earnings results on Tuesday, May 6th. The medical equipment provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.12. The company had revenue of $372.00 million for the quarter, compared to the consensus estimate of $367.79 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The firm's quarterly revenue was down 24.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 EPS. As a group, research analysts expect that Masimo Co. will post 4.1 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Raymond James dropped their price target on Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Piper Sandler reissued an "overweight" rating and issued a $200.00 price target (down from $215.00) on shares of Masimo in a research note on Wednesday, May 7th. Wells Fargo & Company cut their price objective on Masimo from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. BTIG Research set a $193.00 target price on Masimo and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Masimo in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Masimo currently has an average rating of "Moderate Buy" and an average target price of $191.60.

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.