Masimo Co. (NASDAQ:MASI) Short Interest Update

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

Insider Transactions at Masimo

In related news, Director Craig B. Reynolds sold 2,053 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $166.13, for a total transaction of $341,064.89. Following the transaction, the director now owns 16,581 shares of the company's stock, valued at approximately $2,754,601.53. This trade represents a 11.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Bilal Muhsin sold 10,000 shares of the firm'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 transaction of $1,632,800.00. Following the transaction, the chief operating officer now directly owns 24,172 shares in the company, 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. Insiders sold 42,053 shares of company stock valued at $6,998,565 over the last three months. 9.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Masimo

A number of institutional investors and hedge funds have recently bought and sold shares of MASI. Jones Financial Companies Lllp acquired a new position in Masimo in the 4th quarter valued at approximately $27,000. Twin Tree Management LP bought a new stake in shares of Masimo during the first quarter valued at approximately $29,000. Blue Trust Inc. raised its stake in shares of Masimo by 56.3% in the fourth 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 in the last quarter. Farther Finance Advisors LLC lifted its position in Masimo by 128.9% in the first quarter. Farther Finance Advisors LLC now owns 206 shares of the medical equipment provider's stock worth $35,000 after purchasing an additional 116 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Masimo by 40.0% during the fourth 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 in the last quarter. Institutional investors own 85.96% of the company's stock.

Masimo Stock Performance

NASDAQ MASI traded up $7.25 during trading on Friday, hitting $171.97. The company's stock had a trading volume of 910,113 shares, compared to its average volume of 645,352. Masimo has a 52 week low of $101.61 and a 52 week high of $194.88. The firm has a market cap of $9.32 billion, a P/E ratio of 118.60 and a beta of 1.19. The firm has a 50 day moving average price of $157.05 and a 200 day moving average price of $167.30. The company has a quick ratio of 1.11, a current ratio of 2.01 and a debt-to-equity ratio of 0.50.

Masimo (NASDAQ:MASI - Get Free Report) last announced its earnings results on Tuesday, May 6th. The medical equipment provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.24 by $0.12. Masimo had a net margin of 3.85% and a return on equity of 14.98%. 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 previous year, the firm posted $0.77 earnings per share. Masimo's revenue was down 24.5% compared to the same quarter last year. Equities research analysts forecast that Masimo will post 4.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on MASI shares. BTIG Research set a $193.00 price objective on shares of Masimo and gave the company a "buy" rating 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. Piper Sandler reaffirmed an "overweight" rating and set a $200.00 price objective (down previously from $215.00) on shares of Masimo in a research report on Wednesday, May 7th. Raymond James dropped their price target on shares of Masimo from $204.00 to $185.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company dropped their price target on shares of Masimo from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Masimo currently has an average rating of "Moderate Buy" and an average price target of $191.60.

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.