ExodusPoint Capital Management LP Sells 27,254 Shares of Masimo Co. (NASDAQ:MASI)

ExodusPoint Capital Management LP reduced its holdings in Masimo Co. (NASDAQ:MASI) by 74.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,189 shares of the medical equipment provider’s stock after selling 27,254 shares during the period. ExodusPoint Capital Management LP’s holdings in Masimo were worth $1,696,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its stake in Masimo by 14.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 63,060 shares of the medical equipment provider’s stock valued at $11,131,000 after buying an additional 7,954 shares during the last quarter. Renaissance Technologies LLC increased its stake in Masimo by 275.9% in the 4th quarter. Renaissance Technologies LLC now owns 179,700 shares of the medical equipment provider’s stock valued at $26,587,000 after buying an additional 131,900 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Masimo by 3.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 2,923 shares of the medical equipment provider’s stock valued at $539,000 after buying an additional 100 shares during the last quarter. Victory Capital Management Inc. increased its stake in Masimo by 100.8% in the 1st quarter. Victory Capital Management Inc. now owns 20,192 shares of the medical equipment provider’s stock valued at $3,726,000 after buying an additional 10,135 shares during the last quarter. Finally, Cipher Capital LP increased its stake in shares of Masimo by 8.3% during the 4th quarter. Cipher Capital LP now owns 3,999 shares of the medical equipment provider’s stock worth $592,000 after purchasing an additional 306 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Masimo Stock Performance

NASDAQ MASI opened at $113.59 on Friday. The company has a quick ratio of 1.16, a current ratio of 2.11 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $6.00 billion, a P/E ratio of 53.08 and a beta of 0.83. Masimo Co. has a 12-month low of $105.50 and a 12-month high of $198.00. The firm has a 50-day moving average price of $128.59 and a two-hundred day moving average price of $158.21.

Masimo (NASDAQ:MASI) last issued its quarterly earnings results on Tuesday, August 8th. The medical equipment provider reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.24). Masimo had a return on equity of 15.79% and a net margin of 5.30%. The firm had revenue of $455.30 million for the quarter, compared to the consensus estimate of $478.27 million. During the same period last year, the company posted $1.35 EPS. The business’s revenue was down 19.5% on a year-over-year basis. Analysts anticipate that Masimo Co. will post 3.46 earnings per share for the current year.

Wall Street Analyst Weigh In

MASI has been the topic of several recent analyst reports. Raymond James lowered their price objective on shares of Masimo from $198.00 to $142.00 and set an “outperform” rating on the stock in a research note on Thursday, August 10th. BTIG Research lowered their price objective on shares of Masimo from $200.00 to $153.00 in a research note on Tuesday, July 18th. Stifel Nicolaus lowered shares of Masimo from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $205.00 to $120.00 in a research note on Tuesday, July 18th. Needham & Company LLC restated a “buy” rating and set a $136.00 price objective on shares of Masimo in a research note on Wednesday, August 9th. Finally, StockNews.com lowered shares of Masimo from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $151.33.

Masimo Profile

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 O3 regional oximetry.