Schwab Charles Investment Management Inc. reduced its stake in shares of Masimo Co. (NASDAQ:MASI) by 7.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 387,231 shares of the medical equipment provider’s stock after selling 30,064 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.75% of Masimo worth $33,519,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in MASI. Great West Life Assurance Co. Can increased its position in shares of Masimo by 0.3% in the second quarter. Great West Life Assurance Co. Can now owns 26,913 shares of the medical equipment provider’s stock valued at $2,452,000 after buying an additional 88 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Masimo in the second quarter valued at approximately $219,000. World Asset Management Inc increased its position in shares of Masimo by 4.6% in the second quarter. World Asset Management Inc now owns 2,853 shares of the medical equipment provider’s stock valued at $260,000 after buying an additional 126 shares in the last quarter. Retirement Systems of Alabama increased its position in shares of Masimo by 48.8% in the second quarter. Retirement Systems of Alabama now owns 86,180 shares of the medical equipment provider’s stock valued at $7,858,000 after buying an additional 28,248 shares in the last quarter. Finally, Cigna Investments Inc. New purchased a new stake in shares of Masimo in the second quarter valued at approximately $332,000. Institutional investors own 83.69% of the company’s stock.
In related news, EVP Yongsam Lee sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $89.89, for a total value of $449,450.00. Following the completion of the sale, the executive vice president now directly owns 74,000 shares of the company’s stock, valued at approximately $6,651,860. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Steven Barker sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $90.00, for a total value of $900,000.00. Following the completion of the sale, the director now directly owns 73,249 shares of the company’s stock, valued at $6,592,410. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,074 shares of company stock worth $4,737,245. Company insiders own 13.10% of the company’s stock.
Shares of Masimo Co. (MASI) traded up $1.24 during trading on Tuesday, hitting $86.04. The stock had a trading volume of 378,352 shares, compared to its average volume of 346,550. Masimo Co. has a twelve month low of $66.79 and a twelve month high of $104.71. The firm has a market cap of $4,381.71, a price-to-earnings ratio of 13.61, a PEG ratio of 2.86 and a beta of 0.72.
Masimo (NASDAQ:MASI) last released its quarterly earnings data on Tuesday, October 31st. The medical equipment provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.17. Masimo had a return on equity of 22.17% and a net margin of 45.83%. The business had revenue of $193.69 million for the quarter, compared to the consensus estimate of $189.01 million. During the same quarter in the prior year, the business posted $0.52 EPS. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. research analysts forecast that Masimo Co. will post 2.95 earnings per share for the current year.
MASI has been the subject of several research reports. Stifel Nicolaus reiterated a “buy” rating and set a $108.00 price target on shares of Masimo in a research report on Friday, November 3rd. Zacks Investment Research upgraded Masimo from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a research report on Thursday, November 2nd. Finally, BidaskClub cut Masimo from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Masimo currently has an average rating of “Hold” and a consensus target price of $97.17.
Masimo Corporation is a medical technology company that develops, manufactures and markets a range of non-invasive patient monitoring technologies. The Company’s business is Measure-through Motion and Low Perfusion pulse oximetry monitoring, known as Masimo Signal Extraction Technology (SET) pulse oximetry.
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