State of Tennessee Department of Treasury Lowers Stock Position in Masimo Co. (NASDAQ:MASI)

State of Tennessee Department of Treasury cut its stake in shares of Masimo Co. (NASDAQ:MASI) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,300 shares of the medical equipment provider’s stock after selling 431 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Masimo were worth $2,529,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stifel Financial Corp purchased a new stake in shares of Masimo in the third quarter worth $229,000. Barclays PLC increased its stake in Masimo by 152.6% in the 3rd quarter. Barclays PLC now owns 39,957 shares of the medical equipment provider’s stock worth $5,329,000 after buying an additional 24,137 shares in the last quarter. Tidal Investments LLC bought a new stake in Masimo during the third quarter valued at about $319,000. GAMMA Investing LLC lifted its position in shares of Masimo by 136.5% in the fourth quarter. GAMMA Investing LLC now owns 466 shares of the medical equipment provider’s stock valued at $77,000 after acquiring an additional 269 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Masimo by 0.7% in the fourth quarter. Nordea Investment Management AB now owns 19,182 shares of the medical equipment provider’s stock worth $3,206,000 after acquiring an additional 142 shares during the period. 85.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Masimo news, 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 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. This trade represents a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Bilal Muhsin sold 30,000 shares of the business’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 value of $5,024,700.00. Following the transaction, the chief operating officer now owns 24,172 shares of the company’s stock, valued at $4,048,568.28. This trade represents a 55.38 % decrease in their position. The disclosure for this sale can be found here. 9.70% of the stock is owned by corporate insiders.

Masimo Trading Up 0.7 %

Shares of MASI opened at $163.74 on Monday. The stock has a market capitalization of $8.85 billion, a PE ratio of 112.92 and a beta of 1.28. The company’s fifty day moving average is $165.71 and its 200 day moving average is $165.73. 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 Co. has a fifty-two week low of $101.61 and a fifty-two week high of $194.88.

Masimo (NASDAQ:MASI) last announced its earnings results on Tuesday, February 25th. The medical equipment provider reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.38. The firm had revenue of $600.70 million for the quarter, compared to analysts’ expectations of $593.35 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. Sell-side analysts expect that Masimo Co. will post 4.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on MASI. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a report on Thursday, April 10th. Wells Fargo & Company raised their target price on shares of Masimo from $193.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, Piper Sandler boosted their price target on shares of Masimo from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $194.80.

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.