KBC Group NV Cuts Stake in Masimo Corporation (NASDAQ:MASI)

KBC Group NV cut its stake in Masimo Corporation (NASDAQ:MASI) by 89.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,105 shares of the medical equipment provider’s stock after selling 17,017 shares during the period. KBC Group NV’s holdings in Masimo were worth $351,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MASI. Jones Financial Companies Lllp purchased a new position in Masimo during the fourth quarter worth approximately $27,000. Farther Finance Advisors LLC raised its position in shares of Masimo by 128.9% in the 1st quarter. Farther Finance Advisors LLC now owns 206 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 116 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Masimo by 40.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 224 shares of the medical equipment provider’s stock valued at $37,000 after acquiring an additional 64 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Masimo by 31.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 250 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 60 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in Masimo during the fourth quarter valued at about $46,000. 85.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Bilal Muhsin sold 10,000 shares of Masimo stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $163.28, for a total transaction of $1,632,800.00. Following the sale, the chief operating officer directly owned 24,172 shares of the company’s stock, valued at approximately $3,946,804.16. The trade was a 29.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.70% of the stock is currently owned by insiders.

Masimo Stock Performance

Shares of NASDAQ:MASI opened at $167.67 on Friday. The business’s 50-day simple moving average is $161.89 and its 200 day simple moving average is $166.46. The company has a market cap of $9.09 billion, a P/E ratio of -18.28 and a beta of 1.19. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.62 and a current ratio of 2.17. Masimo Corporation has a one year low of $101.61 and a one year high of $194.88.

Masimo (NASDAQ:MASI) last posted its quarterly earnings data on Tuesday, May 6th. The medical equipment provider reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.12. Masimo had a negative net margin of 25.06% and a positive return on equity of 22.56%. The company had revenue of $372.00 million for the quarter, compared to analyst estimates of $367.79 million. During the same quarter last year, the firm posted $0.77 earnings per share. The business’s quarterly revenue was down 24.5% on a year-over-year basis. On average, sell-side analysts forecast that Masimo Corporation will post 4.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Needham & Company LLC restated a “hold” rating on shares of Masimo in a report on Thursday, April 10th. BTIG Research set a $193.00 price target on shares of Masimo and gave the company a “buy” rating 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 research report on Wednesday, May 7th. Wall Street Zen downgraded shares of Masimo from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Finally, Wells Fargo & Company cut their target price on shares of Masimo from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $191.60.

Masimo Company 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.