Zacks Investment Management Cuts Stock Holdings in Masimo Co. (NASDAQ:MASI)

Zacks Investment Management trimmed its position in shares of Masimo Co. (NASDAQ:MASI) by 7.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,580 shares of the medical equipment provider’s stock after selling 1,741 shares during the quarter. Zacks Investment Management’s holdings in Masimo were worth $3,212,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in Masimo by 0.3% in the 2nd quarter. BlackRock Inc. now owns 7,003,890 shares of the medical equipment provider’s stock worth $1,042,320,000 after acquiring an additional 22,277 shares in the last quarter. Vanguard Group Inc. increased its holdings in Masimo by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 4,449,405 shares of the medical equipment provider’s stock worth $662,160,000 after acquiring an additional 27,580 shares in the last quarter. FMR LLC increased its holdings in Masimo by 7.4% in the 1st quarter. FMR LLC now owns 4,178,808 shares of the medical equipment provider’s stock worth $577,845,000 after acquiring an additional 289,246 shares in the last quarter. Invesco Ltd. increased its holdings in Masimo by 126.3% in the 2nd quarter. Invesco Ltd. now owns 1,235,508 shares of the medical equipment provider’s stock worth $183,868,000 after acquiring an additional 689,534 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Masimo by 10.0% in the 2nd quarter. AQR Capital Management LLC now owns 917,508 shares of the medical equipment provider’s stock worth $132,507,000 after acquiring an additional 83,039 shares in the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

In other Masimo news, Director Sanford Fitch sold 7,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $150.39, for a total value of $1,052,730.00. Following the transaction, the director now directly owns 44,245 shares in the company, valued at $6,654,005.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Yongsam Lee sold 258 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 73,736 shares of the company’s stock, valued at $10,691,720. The disclosure for this sale can be found here. In the last three months, insiders have sold 206,691 shares of company stock worth $31,581,145. Corporate insiders own 11.50% of the company’s stock.



Shares of Masimo stock traded up $0.04 during trading hours on Wednesday, reaching $149.31. 186,407 shares of the company’s stock were exchanged, compared to its average volume of 346,461. Masimo Co. has a 1 year low of $98.23 and a 1 year high of $160.25. The company has a market capitalization of $7.93 billion, a P/E ratio of 49.28, a price-to-earnings-growth ratio of 2.02 and a beta of 1.22. The business has a fifty day moving average of $151.75 and a two-hundred day moving average of $143.18.

Masimo (NASDAQ:MASI) last released its earnings results on Wednesday, July 31st. The medical equipment provider reported $0.76 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $222.46 million. During the same quarter in the prior year, the firm earned $0.73 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, research analysts anticipate that Masimo Co. will post 3.15 EPS for the current fiscal year.

MASI has been the subject of several recent analyst reports. Stifel Nicolaus boosted their price target on shares of Masimo from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. BidaskClub lowered shares of Masimo from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 6th. BTIG Research reissued a “hold” rating on shares of Masimo in a report on Thursday, August 1st. Finally, UBS Group boosted their price target on shares of Masimo from $172.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $159.25.

About Masimo

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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Institutional Ownership by Quarter for Masimo (NASDAQ:MASI)

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