Kaizen Advisory LLC cut its stake in shares of Masimo Co. (NASDAQ:MASI) by 30.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,958 shares of the medical equipment provider’s stock after selling 3,837 shares during the quarter. Masimo makes up approximately 0.6% of Kaizen Advisory LLC’s portfolio, making the stock its 27th biggest position. Kaizen Advisory LLC’s holdings in Masimo were worth $1,116,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in MASI. Legal & General Group Plc lifted its stake in shares of Masimo by 15.6% in the 1st quarter. Legal & General Group Plc now owns 49,398 shares of the medical equipment provider’s stock valued at $4,344,000 after purchasing an additional 6,654 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Masimo by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 209,817 shares of the medical equipment provider’s stock valued at $18,454,000 after purchasing an additional 4,809 shares during the period. Suntrust Banks Inc. lifted its stake in shares of Masimo by 29.6% in the 1st quarter. Suntrust Banks Inc. now owns 11,195 shares of the medical equipment provider’s stock valued at $984,000 after purchasing an additional 2,558 shares during the period. Cerebellum GP LLC acquired a new position in shares of Masimo in the 2nd quarter valued at about $173,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Masimo in the 2nd quarter valued at about $534,000. 82.88% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Ramshorst David J. Van sold 1,325 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $125.00, for a total transaction of $165,625.00. Following the transaction, the insider now directly owns 2,325 shares of the company’s stock, valued at approximately $290,625. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Ramshorst David J. Van sold 2,675 shares of the company’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $122.87, for a total value of $328,677.25. Following the transaction, the insider now directly owns 2,325 shares in the company, valued at $285,672.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 734,107 shares of company stock worth $87,325,358. 12.60% of the stock is owned by company insiders.
MASI stock opened at $112.34 on Friday. Masimo Co. has a fifty-two week low of $80.69 and a fifty-two week high of $126.89. The company has a market cap of $5.98 billion, a P/E ratio of 45.85, a PEG ratio of 2.70 and a beta of 1.01.
Masimo (NASDAQ:MASI) last posted its quarterly earnings results on Wednesday, October 31st. The medical equipment provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Masimo had a return on equity of 21.49% and a net margin of 15.30%. The business had revenue of $210.58 million for the quarter, compared to the consensus estimate of $207.62 million. During the same period in the prior year, the business earned $0.56 EPS. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. Analysts anticipate that Masimo Co. will post 2.9 earnings per share for the current year.
A number of research analysts have recently issued reports on the company. Zacks Investment Research downgraded Masimo from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. Piper Jaffray Companies boosted their price objective on Masimo to $120.00 and gave the company a “neutral” rating in a research note on Thursday. Needham & Company LLC assumed coverage on Masimo in a research note on Friday, September 14th. They issued a “buy” rating on the stock. BidaskClub raised Masimo from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 17th. Finally, Stifel Nicolaus boosted their price objective on Masimo from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Masimo presently has an average rating of “Buy” and an average price target of $114.40.
Masimo Corporation, a medical technology company, develops, manufactures, and markets noninvasive monitoring technologies 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.
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