Summit Investment Advisors Inc. Sells 158 Shares of Masimo Co. (NASDAQ:MASI)

Summit Investment Advisors Inc. lessened its position in shares of Masimo Co. (NASDAQ:MASI) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,901 shares of the medical equipment provider’s stock after selling 158 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Masimo were worth $1,471,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp purchased a new stake in shares of Masimo during the 4th quarter valued at $27,000. UMB Bank n.a. increased its position in Masimo by 180.9% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the medical equipment provider’s stock valued at $32,000 after buying an additional 123 shares in the last quarter. Blue Trust Inc. raised its stake in 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 buying an additional 71 shares during the last quarter. Trust Co. of Vermont acquired a new stake in Masimo in the fourth quarter worth about $33,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of 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 acquiring an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Analyst Upgrades and Downgrades

MASI has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their target price on shares of Masimo from $193.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Raymond James lifted their price objective on shares of Masimo from $170.00 to $194.00 and gave the stock an “outperform” rating in a research note on Friday, December 27th. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a report on Thursday, April 10th. Finally, Piper Sandler raised their target price on Masimo from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Masimo currently has an average rating of “Moderate Buy” and a consensus price target of $194.80.

Insider Activity

In related news, COO Bilal Muhsin sold 30,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief operating officer now owns 24,172 shares in the company, valued at $4,048,568.28. This represents a 55.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Craig B. Reynolds sold 2,053 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were 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 in the company, valued at $2,754,601.53. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 16.90% of the company’s stock.

Masimo Stock Down 0.2 %

MASI stock opened at $151.68 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11. The firm’s fifty day simple moving average is $169.06 and its 200-day simple moving average is $164.45. Masimo Co. has a 12 month low of $101.61 and a 12 month high of $194.88. The company has a market capitalization of $8.20 billion, a P/E ratio of 104.61 and a beta of 1.28.

Masimo (NASDAQ:MASI) last announced its quarterly earnings results on Tuesday, February 25th. The medical equipment provider reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.38. The firm had revenue of $600.70 million for the quarter, compared to the consensus estimate of $593.35 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. As a group, equities research analysts forecast that Masimo Co. will post 4.1 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.