ProShare Advisors LLC lessened its stake in Masimo Co. (NASDAQ:MASI – Free Report) by 18.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,022 shares of the medical equipment provider’s stock after selling 688 shares during the quarter. ProShare Advisors LLC’s holdings in Masimo were worth $558,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Belpointe Asset Management LLC purchased a new position in Masimo in the 4th quarter worth about $38,000. Spire Wealth Management increased its stake in Masimo by 157.3% in the 1st quarter. Spire Wealth Management now owns 337 shares of the medical equipment provider’s stock worth $62,000 after buying an additional 206 shares during the period. Parallel Advisors LLC increased its position in Masimo by 109.9% during the 1st quarter. Parallel Advisors LLC now owns 359 shares of the medical equipment provider’s stock valued at $66,000 after purchasing an additional 188 shares during the period. Itau Unibanco Holding S.A. increased its position in Masimo by 147.5% during the 4th quarter. Itau Unibanco Holding S.A. now owns 443 shares of the medical equipment provider’s stock valued at $66,000 after purchasing an additional 264 shares during the period. Finally, Lazard Asset Management LLC increased its position in Masimo by 20.0% during the 1st quarter. Lazard Asset Management LLC now owns 485 shares of the medical equipment provider’s stock valued at $70,000 after purchasing an additional 81 shares during the period. Hedge funds and other institutional investors own 85.96% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the stock. Raymond James cut their target price on shares of Masimo from $198.00 to $142.00 and set an “outperform” rating on the stock in a research report on Thursday, August 10th. StockNews.com raised shares of Masimo from a “sell” rating to a “hold” rating in a research report on Tuesday. BTIG Research cut their target price on shares of Masimo from $200.00 to $153.00 in a research report on Tuesday, July 18th. Needham & Company LLC reissued a “buy” rating and set a $136.00 target price on shares of Masimo in a research report on Wednesday, August 9th. Finally, Wells Fargo & Company cut their price objective on shares of Masimo from $126.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 9th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Masimo currently has an average rating of “Moderate Buy” and an average price target of $151.33.
Masimo Stock Down 1.7 %
NASDAQ:MASI opened at $108.44 on Friday. The company has a market cap of $5.73 billion, a PE ratio of 50.67 and a beta of 0.81. Masimo Co. has a twelve month low of $105.50 and a twelve month high of $198.00. The company has a current ratio of 2.11, a quick ratio of 1.16 and a debt-to-equity ratio of 0.68. The company’s 50 day moving average is $124.48 and its two-hundred day moving average is $156.75.
Masimo (NASDAQ:MASI – Get Free Report) last released its earnings results on Tuesday, August 8th. The medical equipment provider reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.24). The company had revenue of $455.30 million for the quarter, compared to analysts’ expectations of $478.27 million. Masimo had a return on equity of 15.79% and a net margin of 5.30%. The firm’s revenue for the quarter was down 19.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.35 EPS. Analysts anticipate that Masimo Co. will post 3.46 EPS for the current year.
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 O3 regional oximetry.
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