Raymond James & Associates Trims Position in Masimo Co. (NASDAQ:MASI)

Raymond James & Associates decreased its stake in Masimo Co. (NASDAQ:MASI - Free Report) by 10.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 179,615 shares of the medical equipment provider's stock after selling 22,037 shares during the period. Raymond James & Associates owned about 0.34% of Masimo worth $21,053,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MASI. Caisse DE Depot ET Placement DU Quebec purchased a new position in Masimo during the 1st quarter valued at about $37,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Masimo by 140.6% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 243 shares of the medical equipment provider's stock worth $28,000 after acquiring an additional 142 shares during the period. Belpointe Asset Management LLC grew its stake in shares of Masimo by 31.4% in the first quarter. Belpointe Asset Management LLC now owns 339 shares of the medical equipment provider's stock worth $63,000 after acquiring an additional 81 shares during the period. DHJJ Financial Advisors Ltd. bought a new stake in shares of Masimo in the third quarter worth approximately $32,000. Finally, Castleview Partners LLC bought a new stake in shares of Masimo in the first quarter worth approximately $69,000. Institutional investors own 85.96% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Needham & Company LLC lowered shares of Masimo from a "buy" rating to a "hold" rating in a research note on Wednesday, January 3rd. Piper Sandler raised their price objective on shares of Masimo from $70.00 to $117.00 and gave the stock a "neutral" rating in a report on Monday, February 26th. Jefferies Financial Group reissued a "hold" rating and issued a $121.00 price objective (up previously from $107.00) on shares of Masimo in a report on Tuesday, January 30th. Wells Fargo & Company raised shares of Masimo from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $117.00 to $160.00 in a report on Monday, March 25th. Finally, StockNews.com raised shares of Masimo from a "sell" rating to a "hold" rating in a report on Friday. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Masimo presently has a consensus rating of "Hold" and an average price target of $134.29.

Masimo Stock Down 1.4 %

NASDAQ:MASI traded down $2.02 during mid-day trading on Monday, reaching $144.83. The company's stock had a trading volume of 471,211 shares, compared to its average volume of 614,125. Masimo Co. has a 1 year low of $75.22 and a 1 year high of $198.00. The stock has a fifty day moving average of $132.69 and a 200-day moving average of $109.95. The firm has a market capitalization of $7.66 billion, a PE ratio of 97.25 and a beta of 0.97. The company has a quick ratio of 1.22, a current ratio of 2.18 and a debt-to-equity ratio of 0.64.

Masimo (NASDAQ:MASI - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The medical equipment provider reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $0.43. The company had revenue of $548.90 million during the quarter, compared to analyst estimates of $545.69 million. Masimo had a net margin of 3.98% and a return on equity of 13.77%. The firm's revenue for the quarter was down 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.32 earnings per share. Equities research analysts forecast that Masimo Co. will post 3.51 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.