2,112 Shares in Masimo Corporation (NASDAQ:MASI) Bought by Wealthquest Corp

Wealthquest Corp bought a new position in Masimo Corporation (NASDAQ:MASI - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,112 shares of the medical equipment provider's stock, valued at approximately $352,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Silver Oak Securities Incorporated acquired a new position in shares of Masimo in the first quarter worth about $268,000. State of Alaska Department of Revenue boosted its holdings in shares of Masimo by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 5,204 shares of the medical equipment provider's stock worth $866,000 after buying an additional 135 shares during the period. Cardinal Capital Management lifted its position in shares of Masimo by 6.1% in the first quarter. Cardinal Capital Management now owns 19,868 shares of the medical equipment provider's stock worth $3,310,000 after purchasing an additional 1,148 shares in the last quarter. apricus wealth LLC lifted its position in shares of Masimo by 12.2% in the first quarter. apricus wealth LLC now owns 1,462 shares of the medical equipment provider's stock worth $244,000 after purchasing an additional 159 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Masimo by 58.4% in the first quarter. GAMMA Investing LLC now owns 738 shares of the medical equipment provider's stock worth $123,000 after purchasing an additional 272 shares in the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 shares were sold at an average price of $163.28, for a total value of $1,632,800.00. Following the transaction, the chief operating officer now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 9.70% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MASI. Wells Fargo & Company reduced their price target on shares of Masimo from $205.00 to $190.00 and set an "overweight" rating for the company in a research report 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 report on Wednesday, May 7th. Raymond James Financial reduced their price target on shares of Masimo from $204.00 to $185.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Wall Street Zen lowered shares of Masimo from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Masimo in a research report on Thursday, April 10th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Masimo has an average rating of "Moderate Buy" and a consensus price target of $191.60.

Masimo Stock Down 1.5%

MASI traded down $2.59 during midday trading on Thursday, hitting $166.71. 590,110 shares of the company's stock traded hands, compared to its average volume of 641,063. The company has a market cap of $9.04 billion, a PE ratio of -18.18 and a beta of 1.19. The stock's fifty day simple moving average is $160.11 and its 200-day simple moving average is $166.78. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.17 and a quick ratio of 1.62. Masimo Corporation has a one year low of $101.61 and a one year high of $194.88.

Masimo (NASDAQ:MASI - Get Free Report) last issued 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. The firm had revenue of $372.00 million for the quarter, compared to analyst estimates of $367.79 million. Masimo had a negative net margin of 25.06% and a positive return on equity of 22.56%. The company's revenue for the quarter was down 24.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 earnings per share. As a group, equities analysts anticipate that Masimo Corporation will post 4.1 earnings per share 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.