Logan Capital Management Inc. Lowers Stock Holdings in Masimo Co. (NASDAQ:MASI)

Logan Capital Management Inc. reduced its stake in shares of Masimo Co. (NASDAQ:MASI - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,787 shares of the medical equipment provider's stock after selling 2,565 shares during the period. Logan Capital Management Inc. owned 0.09% of Masimo worth $7,899,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Jones Financial Companies Lllp acquired a new stake in Masimo during the 4th quarter worth about $27,000. UMB Bank n.a. increased its position in Masimo by 180.9% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the medical equipment provider's stock valued at $32,000 after buying an additional 123 shares in the last quarter. Trust Co. of Vermont bought a new stake in Masimo during the 4th quarter worth approximately $33,000. Blue Trust Inc. increased its holdings in Masimo by 56.3% during the 4th quarter. Blue Trust Inc. now owns 197 shares of the medical equipment provider's stock worth $33,000 after purchasing an additional 71 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Masimo by 40.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 224 shares of the medical equipment provider's stock worth $37,000 after buying an additional 64 shares during the last quarter. 85.96% of the stock is owned by institutional investors.

Masimo Stock Performance

Shares of NASDAQ:MASI traded up $1.23 during trading on Friday, hitting $155.62. 537,620 shares of the company were exchanged, compared to its average volume of 655,638. The company has a market cap of $8.44 billion, a PE ratio of 107.32 and a beta of 1.23. The stock has a 50 day moving average of $160.28 and a 200 day moving average of $167.06. Masimo Co. has a 52-week low of $101.61 and a 52-week high of $194.88. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11.

Masimo (NASDAQ:MASI - Get Free Report) last released 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 firm had revenue of $372.00 million for the quarter, compared to analysts' expectations of $367.79 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The business's quarterly revenue was down 24.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 earnings per share. As a group, equities research analysts predict that Masimo Co. will post 4.1 EPS for the current year.

Insider Activity at Masimo

In other news, COO Bilal Muhsin sold 30,000 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $167.49, for a total transaction of $5,024,700.00. Following the completion of the sale, the chief operating officer now directly owns 24,172 shares in the company, valued at approximately $4,048,568.28. This represents a 55.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Craig B. Reynolds sold 2,053 shares of the 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 sale, the director now owns 16,581 shares of the company's stock, valued at approximately $2,754,601.53. This represents a 11.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,053 shares of company stock valued at $6,998,565 over the last 90 days. 9.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MASI. Raymond James cut their target price on Masimo from $204.00 to $185.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Needham & Company LLC reiterated a "hold" rating on shares of Masimo in a research note on Thursday, April 10th. Piper Sandler reiterated an "overweight" rating and issued a $200.00 price objective (down previously from $215.00) on shares of Masimo in a research note on Wednesday, May 7th. 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 research note on Wednesday, May 7th. Finally, BTIG Research set a $193.00 price objective on Masimo and gave the company a "buy" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Masimo presently has a consensus rating of "Moderate Buy" and an average price target 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.