Bank of America Corp DE Trims Position in Masimo Co. (NASDAQ:MASI)

Bank of America Corp DE decreased its holdings in shares of Masimo Co. (NASDAQ:MASI) by 8.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 107,303 shares of the medical equipment provider’s stock after selling 10,542 shares during the quarter. Bank of America Corp DE owned about 0.20% of Masimo worth $17,737,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. BLI Banque de Luxembourg Investments acquired a new stake in Masimo in the 4th quarter worth about $17,067,000. Ameriprise Financial Inc. boosted its position in shares of Masimo by 8.0% in the fourth quarter. Ameriprise Financial Inc. now owns 215,946 shares of the medical equipment provider’s stock worth $35,696,000 after acquiring an additional 16,085 shares during the last quarter. Keel Point LLC acquired a new stake in shares of Masimo in the fourth quarter worth approximately $220,000. Freestone Grove Partners LP purchased a new stake in Masimo in the fourth quarter valued at approximately $357,000. Finally, Lido Advisors LLC acquired a new position in Masimo during the fourth quarter worth approximately $555,000. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MASI. Piper Sandler reiterated an “overweight” rating and issued a $200.00 price target (down previously from $215.00) on shares of Masimo in a report on Wednesday, May 7th. BTIG Research set a $193.00 target price on Masimo and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a report on Thursday, April 10th. Raymond James dropped their price target on Masimo from $204.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company cut their price objective on Masimo from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $191.60.

Insider Buying and Selling at Masimo

In other Masimo news, COO Bilal Muhsin sold 30,000 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $167.49, for a total transaction of $5,024,700.00. Following the completion of the transaction, the chief operating officer now directly owns 24,172 shares of the company’s stock, valued at $4,048,568.28. This trade represents a 55.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Craig B. Reynolds sold 2,053 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $166.13, for a total transaction of $341,064.89. Following the completion of the sale, 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. Insiders sold 42,053 shares of company stock valued at $6,998,565 over the last 90 days. 9.70% of the stock is owned by corporate insiders.

Masimo Stock Up 0.7%

Shares of Masimo stock opened at $156.17 on Wednesday. Masimo Co. has a twelve month low of $101.61 and a twelve month high of $194.88. The stock has a market cap of $8.47 billion, a price-to-earnings ratio of 107.70 and a beta of 1.23. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The company has a fifty day moving average price of $159.81 and a 200 day moving average price of $167.57.

Masimo (NASDAQ:MASI) last issued its earnings results on Tuesday, May 6th. The medical equipment provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.12. The company had revenue of $372.00 million during the quarter, compared to the consensus estimate of $367.79 million. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The company’s revenue was down 24.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 earnings per share. Equities research analysts forecast that Masimo Co. will post 4.1 earnings per share for the current fiscal year.

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.