Masimo Corporation (NASDAQ:MASI) Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in Masimo Corporation by 0.1% during Q1, owning 4,583,276 shares valued at approximately $763.57 million.
• Insider activity increased as Director William R. Jellison purchased 3,000 shares, boosting their position in the company by 167.60%.
• Masimo reported a quarterly EPS of $1.33, exceeding analysts' expectations, alongside a revenue of $370.90 million, which marks a 7.7% year-over-year increase.

Vanguard Group Inc. cut its holdings in shares of Masimo Corporation (NASDAQ:MASI - Free Report) by 0.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,583,276 shares of the medical equipment provider's stock after selling 3,426 shares during the period. Vanguard Group Inc. owned approximately 8.48% of Masimo worth $763,574,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. increased its stake in Masimo by 17.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 31,107 shares of the medical equipment provider's stock worth $5,142,000 after buying an additional 4,579 shares in the last quarter. GAMMA Investing LLC increased its stake in Masimo by 58.4% during the 1st quarter. GAMMA Investing LLC now owns 738 shares of the medical equipment provider's stock worth $123,000 after buying an additional 272 shares in the last quarter. NBC Securities Inc. purchased a new stake in Masimo during the 1st quarter worth approximately $61,000. UMB Bank n.a. boosted its holdings in shares of Masimo by 134.0% during the 1st quarter. UMB Bank n.a. now owns 447 shares of the medical equipment provider's stock worth $74,000 after purchasing an additional 256 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Masimo by 259.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 250,786 shares of the medical equipment provider's stock valued at $41,456,000 after purchasing an additional 181,070 shares in the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director William R. Jellison bought 3,000 shares of the stock in a transaction on Monday, August 11th. The stock was purchased at an average cost of $145.98 per share, with a total value of $437,940.00. Following the purchase, the director owned 4,790 shares of the company's stock, valued at approximately $699,244.20. The trade was a 167.60% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 9.70% of the company's stock.

Analyst Ratings Changes

MASI has been the subject of a number of analyst reports. Wells Fargo & Company dropped their price target on Masimo from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. BTIG Research restated a "buy" rating on shares of Masimo in a research note on Thursday. Raymond James Financial reduced their price objective 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 Masimo from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Piper Sandler increased their target price on Masimo from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Masimo presently has a consensus rating of "Moderate Buy" and a consensus target price of $193.60.

Masimo Price Performance

Shares of MASI stock traded up $2.00 during midday trading on Friday, reaching $153.87. 440,965 shares of the company traded hands, compared to its average volume of 858,403. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.14 and a quick ratio of 1.61. The firm's 50 day simple moving average is $161.08 and its two-hundred day simple moving average is $163.87. Masimo Corporation has a 1-year low of $107.98 and a 1-year high of $194.88. The firm has a market cap of $8.36 billion, a PE ratio of -18.06 and a beta of 1.21.

Masimo (NASDAQ:MASI - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The medical equipment provider reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.22 by $0.11. Masimo had a negative net margin of 24.85% and a positive return on equity of 26.54%. The business had revenue of $370.90 million during the quarter, compared to analysts' expectations of $368.65 million. During the same period last year, the company posted $0.86 EPS. The company's revenue was up 7.7% on a year-over-year basis. On average, equities research analysts expect that Masimo Corporation will post 4.1 EPS for the current fiscal year.

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.