Nuveen Asset Management LLC Sells 7,973 Shares of Masimo Co. (NASDAQ:MASI)

Nuveen Asset Management LLC lessened its position in Masimo Co. (NASDAQ:MASI) by 9.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,754 shares of the medical equipment provider’s stock after selling 7,973 shares during the quarter. Nuveen Asset Management LLC owned 0.14% of Masimo worth $12,522,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MASI. FMR LLC increased its stake in 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 last quarter. Capital Research Global Investors grew its stake in shares of Masimo by 80.5% during 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 buying an additional 1,094,647 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Masimo by 119.0% during 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 buying an additional 943,001 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Masimo by 1,276.9% during the fourth quarter. Alliancebernstein L.P. now owns 947,391 shares of the medical equipment provider’s stock valued at $156,604,000 after buying an additional 878,587 shares during the last quarter. Finally, Corient Private Wealth LLC grew its stake in shares of Masimo by 8,847.1% during 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 buying an additional 343,797 shares during the last quarter. Institutional investors own 85.96% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Masimo Stock Up 0.1%

NASDAQ MASI opened at $150.13 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11. The stock has a market capitalization of $8.14 billion, a PE ratio of 103.54 and a beta of 1.23. Masimo Co. has a 1 year low of $101.61 and a 1 year high of $194.88. The business’s 50-day moving average is $157.97 and its 200 day moving average is $167.33.

Masimo (NASDAQ:MASI) last posted its earnings results 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 company had revenue of $372.00 million for 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 quarterly revenue was down 24.5% on a year-over-year basis. During the same period last year, the firm earned $0.77 earnings per share. Sell-side analysts forecast that Masimo Co. will post 4.1 earnings per share for the current year.

Insider Transactions at Masimo

In related news, COO Bilal Muhsin sold 10,000 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $163.28, for a total value of $1,632,800.00. Following the sale, the chief operating officer now directly owns 24,172 shares of the company’s stock, valued at $3,946,804.16. This represents a 29.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Craig B. Reynolds sold 2,053 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $166.13, for a total value of $341,064.89. Following the transaction, the director now directly owns 16,581 shares of the company’s stock, valued at $2,754,601.53. This represents a 11.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,053 shares of company stock valued at $6,998,565. Corporate insiders own 9.70% of the company’s stock.

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.