Sei Investments Co. reduced its stake in shares of Masimo Corporation (NASDAQ:MASI) by 8.6% during the second quarter, Holdings Channel reports. The firm owned 55,352 shares of the medical equipment provider’s stock after selling 5,192 shares during the period. Sei Investments Co.’s holdings in Masimo Corporation were worth $5,047,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in MASI. Russell Investments Group Ltd. increased its stake in shares of Masimo Corporation by 111.4% in the first quarter. Russell Investments Group Ltd. now owns 338,377 shares of the medical equipment provider’s stock valued at $31,561,000 after buying an additional 178,336 shares during the period. Shell Asset Management Co. purchased a new position in shares of Masimo Corporation during the first quarter valued at about $1,081,000. Cardinal Capital Management increased its position in shares of Masimo Corporation by 0.9% in the first quarter. Cardinal Capital Management now owns 23,481 shares of the medical equipment provider’s stock valued at $2,190,000 after buying an additional 198 shares during the last quarter. Dubuque Bank & Trust Co. purchased a new position in shares of Masimo Corporation during the first quarter valued at about $169,000. Finally, Glen Harbor Capital Management LLC increased its position in shares of Masimo Corporation by 6.4% in the first quarter. Glen Harbor Capital Management LLC now owns 1,826 shares of the medical equipment provider’s stock valued at $170,000 after buying an additional 110 shares during the last quarter. 84.14% of the stock is currently owned by institutional investors.
Masimo Corporation (NASDAQ:MASI) opened at 87.25 on Friday. The company’s 50 day moving average is $91.42 and its 200 day moving average is $90.25. Masimo Corporation has a 52 week low of $53.78 and a 52 week high of $104.71. The stock has a market cap of $4.53 billion, a P/E ratio of 14.30 and a beta of 0.80.
Masimo Corporation (NASDAQ:MASI) last announced its earnings results on Wednesday, August 2nd. The medical equipment provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.71 by $0.12. Masimo Corporation had a net margin of 45.90% and a return on equity of 23.45%. The company had revenue of $192.90 million during the quarter, compared to analysts’ expectations of $189.03 million. During the same period last year, the company posted $0.57 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. Equities analysts predict that Masimo Corporation will post $2.80 earnings per share for the current year.
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Several equities analysts recently issued reports on the stock. Roth Capital upped their price objective on shares of Masimo Corporation from $96.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, July 19th. BidaskClub downgraded shares of Masimo Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research raised shares of Masimo Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Stifel Nicolaus assumed coverage on shares of Masimo Corporation in a research note on Monday, July 10th. They set a “buy” rating and a $105.00 price objective on the stock. Finally, Wedbush reissued an “outperform” rating and set a $112.00 price objective on shares of Masimo Corporation in a research note on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $95.00.
In other Masimo Corporation news, Director Sanford Fitch sold 6,000 shares of the firm’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $91.89, for a total value of $551,340.00. Following the completion of the transaction, the director now directly owns 89,249 shares in the company, valued at $8,201,090.61. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Anand Sampath sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $92.00, for a total transaction of $3,680,000.00. Following the completion of the transaction, the chief operating officer now owns 20,000 shares of the company’s stock, valued at $1,840,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 115,000 shares of company stock valued at $10,773,180. Corporate insiders own 16.60% of the company’s stock.
About Masimo Corporation
Masimo Corporation is a medical technology company that develops, manufactures and markets a range of non-invasive patient monitoring technologies. The Company’s business is Measure-through Motion and Low Perfusion pulse oximetry monitoring, known as Masimo Signal Extraction Technology (SET) pulse oximetry.
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