California Public Employees Retirement System Has $9.08 Million Stock Holdings in Masimo Co. (NASDAQ:MASI)

California Public Employees Retirement System cut its stake in Masimo Co. (NASDAQ:MASI) by 7.0% during the fourth quarter, HoldingsChannel reports. The fund owned 77,458 shares of the medical equipment provider’s stock after selling 5,837 shares during the quarter. California Public Employees Retirement System’s holdings in Masimo were worth $9,079,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Eminence Capital LP acquired a new position in shares of Masimo in the third quarter worth $90,859,000. Teachers Retirement System of The State of Kentucky boosted its holdings in Masimo by 93.8% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 16,541 shares of the medical equipment provider’s stock worth $1,450,000 after purchasing an additional 8,004 shares in the last quarter. Comerica Bank bought a new stake in Masimo in the third quarter worth $8,454,000. Sei Investments Co. boosted its holdings in Masimo by 224.5% in the third quarter. Sei Investments Co. now owns 183,940 shares of the medical equipment provider’s stock worth $16,128,000 after purchasing an additional 127,249 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in Masimo in the third quarter worth $132,699,000. 85.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Craig B. Reynolds sold 40,000 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $136.17, for a total transaction of $5,446,800.00. Following the completion of the transaction, the director now owns 7,406 shares of the company’s stock, valued at $1,008,475.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.70% of the stock is owned by company insiders.

Masimo Stock Up 1.7 %

Shares of MASI opened at $136.25 on Friday. The company has a 50-day simple moving average of $136.00 and a 200-day simple moving average of $117.83. The firm has a market capitalization of $7.21 billion, a P/E ratio of 90.23 and a beta of 0.99. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.22 and a current ratio of 2.18. Masimo Co. has a 52 week low of $75.22 and a 52 week high of $189.30.

Masimo (NASDAQ:MASI) last announced its quarterly earnings data on Tuesday, February 27th. The medical equipment provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.43. The business had revenue of $548.90 million during the quarter, compared to analyst estimates of $545.69 million. Masimo had a net margin of 3.98% and a return on equity of 13.77%. The firm’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.32 earnings per share. On average, equities research analysts expect that Masimo Co. will post 3.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MASI. Jefferies Financial Group reiterated a “hold” rating and issued a $121.00 price objective (up from $107.00) on shares of Masimo in a report on Tuesday, January 30th. Stifel Nicolaus upgraded shares of Masimo from a “hold” rating to a “buy” rating and upped their price objective for the stock from $148.00 to $170.00 in a report on Monday, April 15th. Piper Sandler upped their price objective on shares of Masimo from $70.00 to $117.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Wells Fargo & Company upgraded shares of Masimo from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $117.00 to $160.00 in a report on Monday, March 25th. Finally, BTIG Research upped their price target on shares of Masimo from $145.00 to $166.00 and gave the company a “buy” rating in a report on Monday, March 25th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Masimo presently has a consensus rating of “Hold” and an average price target of $137.43.

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 regional oximetry.