First Trust Advisors LP Sells 36,527 Shares of Masimo Co. (NASDAQ:MASI)

First Trust Advisors LP reduced its holdings in Masimo Co. (NASDAQ:MASI – Get Rating) by 43.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,393 shares of the medical equipment provider’s stock after selling 36,527 shares during the quarter. First Trust Advisors LP’s holdings in Masimo were worth $6,831,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Masimo by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 4,775,660 shares of the medical equipment provider’s stock worth $695,050,000 after buying an additional 71,918 shares during the last quarter. FMR LLC grew its position in shares of Masimo by 1.7% in the 2nd quarter. FMR LLC now owns 2,104,939 shares of the medical equipment provider’s stock worth $275,052,000 after buying an additional 35,438 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of Masimo during the second quarter valued at approximately $242,537,000. State Street Corp boosted its position in shares of Masimo by 1.6% during the first quarter. State Street Corp now owns 1,730,991 shares of the medical equipment provider’s stock valued at $251,928,000 after purchasing an additional 27,261 shares in the last quarter. Finally, RTW Investments LP boosted its position in shares of Masimo by 6.6% during the third quarter. RTW Investments LP now owns 1,439,993 shares of the medical equipment provider’s stock valued at $203,269,000 after purchasing an additional 89,000 shares in the last quarter. 87.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MASI has been the topic of several research reports. Needham & Company LLC lifted their price target on Masimo from $173.00 to $192.00 and gave the company a “buy” rating in a research report on Wednesday, March 1st. BTIG Research lifted their price target on Masimo from $180.00 to $195.00 in a research report on Wednesday, March 1st. Raymond James lifted their price target on Masimo from $187.00 to $198.00 and gave the company an “outperform” rating in a research report on Wednesday, March 1st. Stifel Nicolaus lifted their price target on Masimo from $164.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, January 11th. Finally, Piper Sandler lifted their price objective on Masimo from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Wednesday, March 1st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $182.00.

Masimo Stock Up 1.6 %

Shares of NASDAQ:MASI opened at $175.66 on Tuesday. Masimo Co. has a 12-month low of $108.89 and a 12-month high of $184.96. The stock has a fifty day simple moving average of $166.47 and a two-hundred day simple moving average of $149.80. The company has a current ratio of 2.08, a quick ratio of 1.28 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $9.24 billion, a price-to-earnings ratio of 67.56 and a beta of 0.86.

Masimo (NASDAQ:MASI – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The medical equipment provider reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.15. Masimo had a return on equity of 18.84% and a net margin of 7.06%. The firm had revenue of $617.00 million during the quarter, compared to analysts’ expectations of $602.49 million. During the same quarter in the previous year, the business earned $1.21 earnings per share. The company’s revenue was up 88.4% on a year-over-year basis. On average, research analysts anticipate that Masimo Co. will post 4.75 earnings per share for the current fiscal year.

Insider Transactions at Masimo

In other Masimo news, CEO Joe E. Kiani purchased 7,040 shares of the firm’s stock in a transaction dated Thursday, December 15th. The stock was purchased at an average price of $144.79 per share, for a total transaction of $1,019,321.60. Following the completion of the purchase, the chief executive officer now directly owns 46,818 shares of the company’s stock, valued at $6,778,778.22. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 9.70% of the company’s stock.

About Masimo

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Masimo Corp. is a global technology company, which engages in the development, manufacture, and marketing of patient monitoring technologies, and automation and connectivity solutions. Its products include remote patient monitoring, connectivity, and hospital automation solutions, including Masimo Patient SafetyNet, Masimo Patient SafetyNet Surveillance, Masimo SafetyNet, Masimo SafetyNet-Open, Replica, Iris, MyView, UniView, Uniview: 60, Trace, Masimo Sleep, Centroid, and Bridge.