Swiss National Bank Decreases Stake in Masimo Co. (NASDAQ:MASI)

Swiss National Bank lowered its stake in Masimo Co. (NASDAQ:MASI) by 1.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 200,100 shares of the medical equipment provider’s stock after selling 3,300 shares during the period. Swiss National Bank’s holdings in Masimo were worth $47,236,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. raised its holdings in shares of Masimo by 6.2% in the third quarter. BlackRock Inc. now owns 7,898,232 shares of the medical equipment provider’s stock worth $1,864,456,000 after buying an additional 458,222 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Masimo by 0.3% during the second quarter. Vanguard Group Inc. now owns 4,587,596 shares of the medical equipment provider’s stock worth $1,045,926,000 after purchasing an additional 15,330 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Masimo by 161.4% during the second quarter. Neuberger Berman Group LLC now owns 627,478 shares of the medical equipment provider’s stock worth $143,029,000 after purchasing an additional 387,423 shares during the last quarter. California Public Employees Retirement System raised its holdings in shares of Masimo by 291.2% during the third quarter. California Public Employees Retirement System now owns 422,976 shares of the medical equipment provider’s stock worth $99,848,000 after purchasing an additional 314,843 shares during the last quarter. Finally, RTW Investments LP raised its holdings in shares of Masimo by 1.5% during the second quarter. RTW Investments LP now owns 388,776 shares of the medical equipment provider’s stock worth $88,637,000 after purchasing an additional 5,861 shares during the last quarter. 82.42% of the stock is owned by institutional investors and hedge funds.

In other news, CEO Joe E. Kiani sold 52,492 shares of Masimo stock in a transaction dated Wednesday, October 7th. The shares were sold at an average price of $250.87, for a total value of $13,168,668.04. Following the sale, the chief executive officer now owns 211,733 shares in the company, valued at $53,117,457.71. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Bilal Muhsin sold 25,000 shares of Masimo stock in a transaction dated Wednesday, October 7th. The shares were sold at an average price of $251.00, for a total transaction of $6,275,000.00. Following the completion of the sale, the chief operating officer now owns 25,000 shares in the company, valued at approximately $6,275,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 175,000 shares of company stock worth $43,575,197. Company insiders own 11.50% of the company’s stock.

Several research analysts recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of Masimo from $255.00 to $276.00 and gave the stock a “buy” rating in a report on Wednesday, October 28th. Zacks Investment Research cut shares of Masimo from a “buy” rating to a “hold” rating and set a $258.00 target price for the company. in a report on Thursday, October 8th. Piper Sandler raised their target price on shares of Masimo from $250.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, October 28th. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a report on Tuesday, October 6th. Finally, Robert W. Baird began coverage on shares of Masimo in a research report on Tuesday, September 1st. They set an “outperform” rating and a $260.00 price target on the stock. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Masimo presently has a consensus rating of “Buy” and an average target price of $246.25.

MASI stock opened at $247.96 on Friday. The firm has a market cap of $13.65 billion, a PE ratio of 64.41, a P/E/G ratio of 3.60 and a beta of 0.85. The firm’s fifty day moving average is $239.99 and its 200 day moving average is $229.95. Masimo Co. has a one year low of $143.90 and a one year high of $259.29.

Masimo (NASDAQ:MASI) last announced its earnings results on Saturday, October 31st. The medical equipment provider reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.18. Masimo had a net margin of 20.30% and a return on equity of 15.75%. Research analysts predict that Masimo Co. will post 3.46 EPS for the current year.

About Masimo

Masimo Corporation, a medical technology company, develops, manufactures, and markets noninvasive monitoring technologies and hospital automation 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.

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Institutional Ownership by Quarter for Masimo (NASDAQ:MASI)

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