Masimo Co. (NASDAQ:MASI) Short Interest Up 17.4% in May

Masimo Co. (NASDAQ:MASI - Get Free Report) saw a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 3,030,000 shares, an increase of 17.4% from the April 30th total of 2,580,000 shares. Approximately 6.1% of the company's shares are sold short. Based on an average daily trading volume, of 663,900 shares, the days-to-cover ratio is currently 4.6 days.

Insider Buying and Selling

In other news, COO Bilal Muhsin sold 30,000 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $167.49, for a total transaction of $5,024,700.00. Following the transaction, the chief operating officer now owns 24,172 shares in the company, valued at approximately $4,048,568.28. This trade represents a 55.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through 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 stock was sold at an average price of $166.13, for a total transaction of $341,064.89. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 42,053 shares of company stock worth $6,998,565 over the last three months. 9.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Masimo

Several hedge funds have recently added to or reduced their stakes in MASI. Smartleaf Asset Management LLC increased its holdings in shares of Masimo by 31.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 250 shares of the medical equipment provider's stock valued at $42,000 after acquiring an additional 60 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Masimo by 40.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 224 shares of the medical equipment provider's stock valued at $37,000 after purchasing an additional 64 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Masimo by 0.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,371 shares of the medical equipment provider's stock valued at $1,894,000 after purchasing an additional 66 shares in the last quarter. Blue Trust Inc. raised its stake in Masimo by 56.3% in the 4th quarter. Blue Trust Inc. now owns 197 shares of the medical equipment provider's stock valued at $33,000 after purchasing an additional 71 shares during the last quarter. Finally, Xponance Inc. boosted its holdings in shares of Masimo by 1.1% during the first quarter. Xponance Inc. now owns 7,101 shares of the medical equipment provider's stock worth $1,183,000 after purchasing an additional 76 shares during the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MASI has been the topic of a number of recent analyst reports. BTIG Research set a $193.00 price target on Masimo and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Needham & Company LLC reissued a "hold" rating on shares of Masimo in a report on Thursday, April 10th. Raymond James lowered their price objective on Masimo from $204.00 to $185.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Wall Street Zen lowered Masimo from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Piper Sandler reaffirmed 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $191.60.

Masimo Trading Up 4.4%

Masimo stock traded up $7.25 during trading on Friday, hitting $171.97. The company had a trading volume of 910,113 shares, compared to its average volume of 644,717. The company's 50 day simple moving average is $157.05 and its 200-day simple moving average is $167.29. Masimo has a 1-year low of $101.61 and a 1-year high of $194.88. The stock has a market cap of $9.32 billion, a price-to-earnings ratio of 118.60 and a beta of 1.19. 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 data on Tuesday, May 6th. The medical equipment provider reported $1.36 earnings per share for the quarter, topping analysts' consensus estimates of $1.24 by $0.12. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The business had revenue of $372.00 million for the quarter, compared to analyst estimates of $367.79 million. During the same quarter in the prior year, the company earned $0.77 earnings per share. The company's revenue was down 24.5% on a year-over-year basis. As a group, analysts expect that Masimo will post 4.1 EPS for the current fiscal year.

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.