Allspring Global Investments Holdings LLC Reduces Stake in Masimo Co. (NASDAQ:MASI)

Allspring Global Investments Holdings LLC reduced its stake in Masimo Co. (NASDAQ:MASI – Free Report) by 20.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,580 shares of the medical equipment provider’s stock after selling 10,595 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.08% of Masimo worth $6,842,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MASI. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Masimo during the 1st quarter worth $37,000. Achmea Investment Management B.V. acquired a new position in Masimo during the 2nd quarter worth about $39,000. Trivant Custom Portfolio Group LLC acquired a new position in Masimo during the 1st quarter worth about $55,000. Spire Wealth Management lifted its stake in Masimo by 157.3% during the 1st quarter. Spire Wealth Management now owns 337 shares of the medical equipment provider’s stock worth $62,000 after acquiring an additional 206 shares in the last quarter. Finally, Belpointe Asset Management LLC lifted its stake in Masimo by 31.4% during the 1st quarter. Belpointe Asset Management LLC now owns 339 shares of the medical equipment provider’s stock worth $63,000 after acquiring an additional 81 shares in the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

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Masimo Trading Up 1.0 %

Shares of MASI stock opened at $79.37 on Friday. The business’s 50 day moving average is $92.53 and its two-hundred day moving average is $131.82. Masimo Co. has a twelve month low of $75.22 and a twelve month high of $198.00. The company has a market capitalization of $4.19 billion, a P/E ratio of 37.09 and a beta of 0.88. The company has a current ratio of 2.11, a quick ratio of 1.16 and a debt-to-equity ratio of 0.68.

Masimo (NASDAQ:MASI – Get Free Report) last announced 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). Masimo had a net margin of 5.30% and a return on equity of 15.79%. The company had revenue of $455.30 million during the quarter, compared to analysts’ expectations of $478.27 million. During the same quarter last year, the business posted $1.35 earnings per share. The company’s revenue for the quarter was down 19.5% compared to the same quarter last year. Equities analysts forecast that Masimo Co. will post 3.45 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MASI shares. BTIG Research decreased their target price on Masimo from $200.00 to $153.00 in a research note on Tuesday, July 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $136.00 price target on shares of Masimo in a research report on Wednesday, August 9th. Stifel Nicolaus lowered Masimo from a “buy” rating to a “hold” rating and cut their target price for the stock from $205.00 to $120.00 in a research report on Tuesday, July 18th. Wells Fargo & Company cut their target price on Masimo from $126.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 9th. Finally, Raymond James dropped their price target on Masimo from $198.00 to $142.00 and set an “outperform” rating on the stock in a research note on Thursday, August 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $135.17.

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About Masimo

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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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