M&T Bank Corp Reduces Holdings in Masimo Corporation (NASDAQ:MASI)

M&T Bank Corp trimmed its stake in Masimo Corporation (NASDAQ:MASI) by 17.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,184 shares of the medical equipment provider’s stock after selling 476 shares during the period. M&T Bank Corp’s holdings in Masimo were worth $364,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MASI. Jones Financial Companies Lllp purchased a new stake in Masimo during the fourth quarter worth approximately $27,000. Farther Finance Advisors LLC raised its holdings in Masimo by 128.9% in the first quarter. Farther Finance Advisors LLC now owns 206 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 116 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Masimo by 40.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 224 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 64 shares during the period. NBC Securities Inc. acquired a new stake in shares of Masimo during the first quarter worth $61,000. Finally, UMB Bank n.a. increased its holdings in shares of Masimo by 134.0% in the 1st quarter. UMB Bank n.a. now owns 447 shares of the medical equipment provider’s stock worth $74,000 after acquiring an additional 256 shares during the period. 85.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MASI has been the subject of several research reports. Wells Fargo & Company reduced their price objective on shares of Masimo from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. BTIG Research reiterated a “buy” rating on shares of Masimo in a research note on Monday. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a research note on Thursday, April 10th. Piper Sandler reiterated an “overweight” rating and set a $200.00 target price (down from $215.00) on shares of Masimo in a research note on Wednesday, May 7th. Finally, Raymond James Financial lowered their price target on shares of Masimo from $204.00 to $185.00 and set an “outperform” rating on the stock in a report 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $191.60.

Insider Activity

In other Masimo news, COO Bilal Muhsin sold 10,000 shares of the business’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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 9.70% of the company’s stock.

Masimo Stock Performance

NASDAQ:MASI opened at $158.35 on Friday. The stock has a market cap of $8.59 billion, a P/E ratio of -17.27 and a beta of 1.19. The company has a current ratio of 2.17, a quick ratio of 1.62 and a debt-to-equity ratio of 0.67. The stock’s 50-day moving average is $162.14 and its 200-day moving average is $166.04. Masimo Corporation has a 1-year low of $101.61 and a 1-year high of $194.88.

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 analysts’ consensus estimates of $1.24 by $0.12. Masimo had a positive return on equity of 22.56% and a negative net margin of 25.06%. The company had revenue of $372.00 million for the quarter, compared to analyst estimates of $367.79 million. During the same period in the prior year, the firm earned $0.77 earnings per share. Masimo’s revenue for the quarter was down 24.5% on a year-over-year basis. Equities research analysts anticipate that Masimo Corporation will post 4.1 earnings per share for the current 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.