Congress Asset Management Co. MA trimmed its holdings in Masimo Co. (NASDAQ:MASI) by 14.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,574 shares of the medical equipment provider’s stock after selling 4,919 shares during the quarter. Congress Asset Management Co. MA owned about 0.06% of Masimo worth $3,559,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Segall Bryant & Hamill LLC purchased a new position in Masimo in the 2nd quarter worth approximately $1,280,000. Moody Aldrich Partners LLC purchased a new position in Masimo in the 2nd quarter worth approximately $2,919,000. BancorpSouth Bank purchased a new position in Masimo in the 2nd quarter worth approximately $212,000. RTW Investments LP lifted its stake in Masimo by 7.6% in the 2nd quarter. RTW Investments LP now owns 249,543 shares of the medical equipment provider’s stock worth $24,368,000 after purchasing an additional 17,543 shares in the last quarter. Finally, Epoch Investment Partners Inc. purchased a new position in Masimo in the 2nd quarter worth approximately $3,356,000. 82.88% of the stock is currently owned by institutional investors and hedge funds.
MASI has been the topic of a number of research reports. Stifel Nicolaus raised their target price on shares of Masimo from $112.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. Needham & Company LLC initiated coverage on shares of Masimo in a research note on Friday, September 14th. They issued a “buy” rating on the stock. Zacks Investment Research raised shares of Masimo from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a research note on Tuesday, July 3rd. ValuEngine raised shares of Masimo from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Finally, BidaskClub raised shares of Masimo from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 17th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Masimo currently has a consensus rating of “Buy” and an average price target of $109.20.
Masimo (NASDAQ:MASI) last released its quarterly earnings results on Wednesday, August 1st. The medical equipment provider reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The firm had revenue of $211.62 million for the quarter, compared to analyst estimates of $207.85 million. Masimo had a net margin of 15.30% and a return on equity of 21.49%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.83 EPS. As a group, analysts forecast that Masimo Co. will post 2.9 earnings per share for the current year.
In other news, Director Steven Barker sold 10,000 shares of Masimo stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $110.00, for a total transaction of $1,100,000.00. Following the sale, the director now owns 74,832 shares of the company’s stock, valued at approximately $8,231,520. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sanford Fitch sold 2,000 shares of Masimo stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $101.00, for a total transaction of $202,000.00. Following the sale, the director now directly owns 57,832 shares in the company, valued at approximately $5,841,032. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 765,380 shares of company stock worth $90,720,456. Corporate insiders own 12.60% 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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