State of Alaska Department of Revenue Sells 150 Shares of Masimo Corporation $MASI

State of Alaska Department of Revenue lessened its stake in Masimo Corporation (NASDAQ:MASI) by 2.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,054 shares of the medical equipment provider’s stock after selling 150 shares during the period. State of Alaska Department of Revenue’s holdings in Masimo were worth $850,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MASI. Durable Capital Partners LP bought a new stake in Masimo in the 1st quarter worth approximately $187,528,000. Massachusetts Financial Services Co. MA grew its position in Masimo by 13.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,967,838 shares of the medical equipment provider’s stock worth $327,842,000 after purchasing an additional 232,671 shares during the period. Nuveen LLC bought a new stake in Masimo in the 1st quarter worth approximately $25,830,000. Alyeska Investment Group L.P. grew its position in Masimo by 24.9% in the 1st quarter. Alyeska Investment Group L.P. now owns 722,534 shares of the medical equipment provider’s stock worth $120,374,000 after purchasing an additional 143,899 shares during the period. Finally, Bank of Nova Scotia bought a new stake in Masimo in the 1st quarter worth approximately $15,528,000. Institutional investors own 85.96% of the company’s stock.

Insider Activity at Masimo

In related news, Director William R. Jellison acquired 3,000 shares of the company’s stock in a transaction on Monday, August 11th. The stock was acquired at an average price of $145.98 per share, with a total value of $437,940.00. Following the acquisition, the director directly owned 4,790 shares of the company’s stock, valued at approximately $699,244.20. This trade represents a 167.60% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 16.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MASI has been the subject of a number of research analyst reports. Piper Sandler lifted their target price on shares of Masimo from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Masimo in a research report on Saturday, September 27th. BTIG Research reiterated a “buy” rating and set a $198.00 price target on shares of Masimo in a research note on Thursday, September 11th. Zacks Research upgraded shares of Masimo from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. Finally, Wall Street Zen cut shares of Masimo from a “buy” rating to a “hold” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $194.60.

Masimo Trading Up 0.6%

Shares of Masimo stock opened at $148.13 on Tuesday. The company has a market capitalization of $8.05 billion, a P/E ratio of -17.39 and a beta of 1.28. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.61 and a current ratio of 2.14. The company has a fifty day moving average of $146.50 and a 200 day moving average of $155.66. Masimo Corporation has a fifty-two week low of $133.17 and a fifty-two week high of $194.88.

Masimo (NASDAQ:MASI) last issued its earnings results on Tuesday, August 5th. The medical equipment provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.11. Masimo had a negative net margin of 24.85% and a positive return on equity of 26.54%. The company had revenue of $370.90 million during the quarter, compared to the consensus estimate of $368.65 million. During the same quarter in the prior year, the firm posted $0.86 EPS. Masimo’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Masimo Corporation 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.