Masimo Co. (NASDAQ:MASI) Stock Position Cut by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC reduced its stake in Masimo Co. (NASDAQ:MASIFree Report) by 18.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,571 shares of the medical equipment provider’s stock after selling 1,053 shares during the period. Orion Portfolio Solutions LLC’s holdings in Masimo were worth $523,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in MASI. Eminence Capital LP bought a new stake in Masimo in the third quarter worth about $90,859,000. Hawk Ridge Capital Management LP lifted its stake in Masimo by 124.4% during the third quarter. Hawk Ridge Capital Management LP now owns 567,765 shares of the medical equipment provider’s stock valued at $49,782,000 after purchasing an additional 314,763 shares during the last quarter. Hudson Bay Capital Management LP bought a new stake in Masimo during the third quarter worth approximately $12,497,000. Sei Investments Co. grew its position 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 buying an additional 127,249 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new position in shares of Masimo in the fourth quarter valued at $12,078,000. Institutional investors and hedge funds own 85.96% of the company’s stock.

Insider Activity

In related news, Director Craig B. Reynolds sold 40,000 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $136.17, for a total value of $5,446,800.00. Following the transaction, the director now owns 7,406 shares in the company, valued at $1,008,475.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.70% of the stock is owned by corporate insiders.

Masimo Stock Performance

Shares of MASI opened at $124.80 on Friday. The company has a market capitalization of $6.63 billion, a PE ratio of 84.90 and a beta of 1.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.31 and a current ratio of 2.31. The company’s 50 day moving average price is $132.17 and its 200 day moving average price is $125.19. Masimo Co. has a 52 week low of $75.22 and a 52 week high of $167.33.

Masimo (NASDAQ:MASIGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The medical equipment provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.71 by $0.06. Masimo had a net margin of 4.01% and a return on equity of 13.26%. The business had revenue of $492.80 million for the quarter, compared to analysts’ expectations of $487.70 million. During the same period in the previous year, the company posted $0.87 EPS. Masimo’s revenue was down 12.8% on a year-over-year basis. Research analysts expect that Masimo Co. will post 3.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MASI. Piper Sandler upgraded Masimo from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $126.00 to $160.00 in a report on Monday. Wells Fargo & Company upgraded Masimo from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $117.00 to $160.00 in a report on Monday, March 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research note on Wednesday, May 8th. StockNews.com raised shares of Masimo from a “sell” rating to a “hold” rating in a research report on Friday, March 29th. Finally, Stifel Nicolaus upgraded shares of Masimo from a “hold” rating to a “buy” rating and upped their price target for the company from $148.00 to $170.00 in a research report on Monday, April 15th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $143.57.

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About Masimo

(Free Report)

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.

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Institutional Ownership by Quarter for Masimo (NASDAQ:MASI)

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