Neuburgh Advisers LLC decreased its position in Masimo Co. (NASDAQ:MASI) by 51.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,544 shares of the medical equipment provider’s stock after selling 4,832 shares during the period. Neuburgh Advisers LLC’s holdings in Masimo were worth $676,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Capital Investment Advisory Services LLC purchased a new position in shares of Masimo in the second quarter worth $25,000. Financial Gravity Wealth Inc. purchased a new position in shares of Masimo during the second quarter valued at approximately $31,000. Pearl River Capital LLC bought a new position in Masimo during the second quarter valued at approximately $37,000. FinTrust Capital Advisors LLC bought a new position in Masimo during the first quarter valued at approximately $61,000. Finally, NEXT Financial Group Inc boosted its holdings in Masimo by 172.0% in the second quarter. NEXT Financial Group Inc now owns 544 shares of the medical equipment provider’s stock worth $81,000 after purchasing an additional 344 shares during the last quarter. 84.07% of the stock is currently owned by institutional investors.
Shares of MASI traded up $2.90 on Wednesday, reaching $148.51. The company’s stock had a trading volume of 106,851 shares, compared to its average volume of 264,268. The stock’s 50 day simple moving average is $153.13 and its two-hundred day simple moving average is $141.90. The stock has a market capitalization of $7.77 billion, a P/E ratio of 49.01, a PEG ratio of 2.32 and a beta of 1.22. Masimo Co. has a 12-month low of $98.23 and a 12-month high of $160.25.
Masimo (NASDAQ:MASI) last announced its earnings results on Wednesday, July 31st. The medical equipment provider reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.03. Masimo had a net margin of 22.15% and a return on equity of 17.82%. The business had revenue of $229.60 million during the quarter, compared to analysts’ expectations of $222.46 million. During the same period in the prior year, the company earned $0.73 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. As a group, research analysts expect that Masimo Co. will post 3.15 earnings per share for the current year.
MASI has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their target price on shares of Masimo from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. BTIG Research reissued a “hold” rating on shares of Masimo in a report on Thursday, August 1st. BidaskClub downgraded Masimo from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 6th. UBS Group lifted their price objective on Masimo from $172.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Piper Jaffray Companies lifted their price objective on Masimo from $148.00 to $160.00 in a report on Friday, May 17th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Masimo has an average rating of “Buy” and a consensus target price of $159.25.
In related news, Director Steven Barker sold 10,000 shares of Masimo stock in a transaction on Monday, July 1st. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the transaction, the director now directly owns 76,245 shares in the company, valued at $11,436,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Yongsam Lee sold 258 shares of Masimo stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $145.00, for a total value of $37,410.00. Following the transaction, the executive vice president now owns 73,736 shares in the company, valued at $10,691,720. The disclosure for this sale can be found here. In the last three months, insiders have sold 238,738 shares of company stock valued at $36,108,247. Insiders own 11.50% of the company’s stock.
Masimo Corporation, a medical technology company, develops, manufactures, and markets noninvasive monitoring technologies 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.
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