Masimo (NASDAQ:MASI) Sets New 12-Month Low - Here's Why

Masimo Co. (NASDAQ:MASI - Get Free Report) reached a new 52-week low on Wednesday . The stock traded as low as $158.36 and last traded at $160.96, with a volume of 347350 shares trading hands. The stock had previously closed at $163.14.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MASI shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Masimo in a report on Thursday, April 10th. Piper Sandler upped their price target on shares of Masimo from $210.00 to $215.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company increased their price objective on shares of Masimo from $193.00 to $205.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Masimo currently has a consensus rating of "Moderate Buy" and a consensus price target of $194.80.

Masimo Trading Up 1.7 %

The stock has a fifty day moving average price of $164.74 and a 200 day moving average price of $166.28. The stock has a market cap of $8.99 billion, a PE ratio of 114.77 and a beta of 1.28. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01.

Masimo (NASDAQ:MASI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The medical equipment provider reported $1.80 EPS for the quarter, topping the consensus estimate of $1.42 by $0.38. The company had revenue of $600.70 million during the quarter, compared to analyst estimates of $593.35 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. Equities analysts expect that Masimo Co. will post 4.1 EPS for the current year.

Insider Buying and Selling at Masimo

In other news, COO Bilal Muhsin sold 30,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 24,172 shares of the company's stock, 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 legal filing with the SEC, which can be accessed 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 shares were sold at an average price of $166.13, for a total value of $341,064.89. Following the completion of the sale, the director now owns 16,581 shares of the company's stock, valued at $2,754,601.53. The trade was a 11.02 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.70% of the company's stock.

Institutional Investors Weigh In On Masimo

A number of institutional investors and hedge funds have recently bought and sold shares of MASI. Barclays PLC raised its holdings in shares of Masimo by 152.6% in the third quarter. Barclays PLC now owns 39,957 shares of the medical equipment provider's stock valued at $5,329,000 after acquiring an additional 24,137 shares in the last quarter. Tidal Investments LLC purchased a new position in Masimo during the 3rd quarter valued at about $319,000. GAMMA Investing LLC raised its holdings in shares of Masimo by 136.5% in the 4th quarter. GAMMA Investing LLC now owns 466 shares of the medical equipment provider's stock valued at $77,000 after purchasing an additional 269 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Masimo by 0.7% in the 4th quarter. Nordea Investment Management AB now owns 19,182 shares of the medical equipment provider's stock worth $3,206,000 after purchasing an additional 142 shares during the period. Finally, Fifth Third Wealth Advisors LLC bought a new position in shares of Masimo during the fourth quarter valued at approximately $241,000. 85.96% of the stock is owned by institutional investors.

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.