Masimo Corporation (NASDAQ:MASI) Stake Lessened by KBC Group NV

KBC Group NV trimmed its stake in shares of Masimo Corporation (NASDAQ:MASI) by 89.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,105 shares of the medical equipment provider’s stock after selling 17,017 shares during the quarter. KBC Group NV’s holdings in Masimo were worth $351,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of Masimo by 19.8% in the 4th quarter. FMR LLC now owns 8,097,454 shares of the medical equipment provider’s stock valued at $1,338,509,000 after purchasing an additional 1,340,836 shares in the last quarter. Vanguard Group Inc. increased its holdings in Masimo by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 4,586,702 shares of the medical equipment provider’s stock valued at $758,182,000 after buying an additional 66,215 shares during the last quarter. Capital Research Global Investors lifted its holdings in Masimo by 80.5% during the 4th quarter. Capital Research Global Investors now owns 2,454,975 shares of the medical equipment provider’s stock worth $405,807,000 after buying an additional 1,094,647 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Masimo by 119.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,735,167 shares of the medical equipment provider’s stock worth $286,823,000 after acquiring an additional 943,001 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of Masimo by 8.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,662,376 shares of the medical equipment provider’s stock valued at $274,791,000 after acquiring an additional 135,888 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MASI has been the topic of several research analyst reports. Wall Street Zen cut Masimo from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a report on Thursday, April 10th. Wells Fargo & Company dropped their price objective on shares of Masimo from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 7th. BTIG Research set a $193.00 target price on Masimo and gave the company a “buy” rating in a research note on Wednesday, May 7th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $200.00 target price (down from $215.00) on shares of Masimo in a report on Wednesday, May 7th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $191.60.

Masimo Trading Down 2.1%

Masimo stock opened at $167.67 on Friday. Masimo Corporation has a 52-week low of $101.61 and a 52-week high of $194.88. The company has a quick ratio of 1.62, a current ratio of 2.17 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $9.09 billion, a price-to-earnings ratio of -18.28 and a beta of 1.19. The firm has a 50-day moving average price of $161.89 and a two-hundred day moving average price of $166.46.

Masimo (NASDAQ:MASI) last issued its quarterly earnings data on Tuesday, May 6th. The medical equipment provider reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.12. Masimo had a positive return on equity of 22.56% and a negative net margin of 25.06%. The business had revenue of $372.00 million during the quarter, compared to the consensus estimate of $367.79 million. During the same period in the previous year, the firm posted $0.77 earnings per share. The business’s revenue was down 24.5% on a year-over-year basis. Sell-side analysts expect that Masimo Corporation will post 4.1 earnings per share for the current year.

Insider Activity

In related news, COO Bilal Muhsin sold 10,000 shares of Masimo stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $163.28, for a total transaction of $1,632,800.00. Following the sale, the chief operating officer directly owned 24,172 shares in the company, valued at $3,946,804.16. The trade was a 29.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 9.70% of the company’s stock.

About Masimo

Masimo Corporation develops, manufactures, and markets various patient monitoring technologies, and automation and connectivity 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; Masimo rainbow SET platform, including rainbow SET Pulse CO-Oximetry products that allows noninvasive monitoring of carboxyhemoglobin, methemoglobin, hemoglobin concentration, fractional arterial oxygen saturation, oxygen content, pleth variability index, rainbow pleth variability index, respiration rate from the pleth, and oxygen reserve index, as well as acoustic respiration monitoring, SedLine brain function monitoring, NomoLine capnography and gas monitoring, and regional oximetry.