Masimo Co. (NASDAQ:MASI) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its position in Masimo Co. (NASDAQ:MASI) by 64.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,020 shares of the medical equipment provider’s stock after selling 12,962 shares during the quarter. BNP Paribas Financial Markets’ holdings in Masimo were worth $1,160,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MASI. FMR LLC boosted its holdings in shares of Masimo by 19.8% in the fourth quarter. FMR LLC now owns 8,097,454 shares of the medical equipment provider’s stock valued at $1,338,509,000 after acquiring an additional 1,340,836 shares during the period. Capital Research Global Investors boosted its holdings in shares of Masimo by 80.5% in the fourth quarter. Capital Research Global Investors now owns 2,454,975 shares of the medical equipment provider’s stock valued at $405,807,000 after acquiring an additional 1,094,647 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Masimo by 119.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,735,167 shares of the medical equipment provider’s stock valued at $286,823,000 after acquiring an additional 943,001 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Masimo by 1,276.9% in the fourth quarter. Alliancebernstein L.P. now owns 947,391 shares of the medical equipment provider’s stock valued at $156,604,000 after acquiring an additional 878,587 shares during the period. Finally, Corient Private Wealth LLC boosted its holdings in shares of Masimo by 8,847.1% in the fourth quarter. Corient Private Wealth LLC now owns 347,683 shares of the medical equipment provider’s stock valued at $57,472,000 after acquiring an additional 343,797 shares during the period. 85.96% of the stock is owned by institutional investors and hedge funds.

Masimo Trading Down 0.3%

NASDAQ:MASI opened at $155.13 on Tuesday. The stock has a fifty day moving average price of $159.81 and a two-hundred day moving average price of $167.57. The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of 106.99 and a beta of 1.23. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01. Masimo Co. has a 1 year low of $101.61 and a 1 year high of $194.88.

Masimo (NASDAQ:MASI) last released 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. The firm had revenue of $372.00 million during the quarter, compared to analysts’ expectations of $367.79 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. Masimo’s revenue was down 24.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 earnings per share. As a group, sell-side analysts anticipate that Masimo Co. will post 4.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on MASI. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a report on Thursday, April 10th. BTIG Research set a $193.00 price target on Masimo and gave the stock a “buy” rating in a report on Wednesday, May 7th. Wells Fargo & Company decreased their price target on Masimo from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, May 7th. Piper Sandler reaffirmed an “overweight” rating and set a $200.00 price target (down from $215.00) on shares of Masimo in a report on Wednesday, May 7th. Finally, Raymond James decreased their price target on Masimo from $204.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.60.

Insiders Place Their Bets

In related news, COO Bilal Muhsin sold 30,000 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $167.49, for a total value of $5,024,700.00. Following the completion of the transaction, the chief operating officer now owns 24,172 shares of the company’s stock, valued at approximately $4,048,568.28. The trade was a 55.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Craig B. Reynolds sold 2,053 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $166.13, for a total transaction of $341,064.89. Following the completion of the transaction, the director now directly owns 16,581 shares of the company’s stock, valued at $2,754,601.53. The trade was a 11.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,053 shares of company stock worth $6,998,565. 9.70% of the stock is owned by corporate insiders.

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.