Logan Capital Management Inc. Sells 2,565 Shares of Masimo Co. (NASDAQ:MASI)

Logan Capital Management Inc. reduced its holdings in Masimo Co. (NASDAQ:MASI - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 47,787 shares of the medical equipment provider's stock after selling 2,565 shares during the quarter. Logan Capital Management Inc. owned approximately 0.09% of Masimo worth $7,899,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. FMR LLC boosted its holdings in shares of Masimo by 19.8% during the fourth quarter. FMR LLC now owns 8,097,454 shares of the medical equipment provider's stock valued at $1,338,509,000 after acquiring an additional 1,340,836 shares during the period. Capital Research Global Investors grew its holdings 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 worth $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 4th quarter. Massachusetts Financial Services Co. MA now owns 1,735,167 shares of the medical equipment provider's stock worth $286,823,000 after acquiring an additional 943,001 shares during the period. Alliancebernstein L.P. grew its position in Masimo by 1,276.9% in 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 in the last quarter. Finally, Corient Private Wealth LLC increased its stake in shares of 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 valued at $57,472,000 after acquiring an additional 343,797 shares during the period. Institutional investors own 85.96% of the company's stock.

Insider Buying and Selling

In other news, Director Craig B. Reynolds sold 2,053 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $166.13, for a total transaction of $341,064.89. Following the completion of the sale, the director now directly owns 16,581 shares of the company's stock, valued at $2,754,601.53. This trade represents a 11.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Bilal Muhsin sold 10,000 shares of the business's 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 completion of the sale, the chief operating officer now directly owns 24,172 shares of the company's stock, valued at approximately $3,946,804.16. The trade was a 29.26% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,053 shares of company stock worth $6,998,565. Corporate insiders own 9.70% of the company's stock.

Wall Street Analysts Forecast Growth

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

Masimo Trading Up 0.8%

MASI stock traded up $1.24 during mid-day trading on Thursday, reaching $154.39. 745,264 shares of the stock traded hands, compared to its average volume of 659,524. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The company has a market cap of $8.37 billion, a P/E ratio of 106.48 and a beta of 1.23. Masimo Co. has a 52-week low of $101.61 and a 52-week high of $194.88. The stock's fifty day moving average is $160.28 and its 200-day moving average is $167.06.

Masimo (NASDAQ:MASI - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The medical equipment provider reported $1.36 earnings per share for the quarter, beating analysts' consensus estimates of $1.24 by $0.12. The business 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%. Masimo's revenue for the quarter was down 24.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 earnings per share. As a group, sell-side analysts expect that Masimo Co. will post 4.1 earnings per share for the current year.

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.