Masimo Co. (NASDAQ:MASI) Director Craig B. Reynolds Sells 40,000 Shares

Masimo Co. (NASDAQ:MASI) Director Craig B. Reynolds sold 40,000 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $136.17, for a total value of $5,446,800.00. Following the completion of the transaction, the director now owns 7,406 shares in the company, valued at $1,008,475.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Masimo Price Performance

Shares of Masimo stock traded down $1.79 during trading hours on Tuesday, reaching $134.41. The company’s stock had a trading volume of 408,887 shares, compared to its average volume of 553,409. The firm has a 50 day moving average price of $135.86 and a 200-day moving average price of $117.58. Masimo Co. has a one year low of $75.22 and a one year high of $190.82. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.18 and a quick ratio of 1.22. The stock has a market cap of $7.11 billion, a P/E ratio of 89.01 and a beta of 0.97.

Masimo (NASDAQ:MASI) last posted its earnings results on Tuesday, February 27th. The medical equipment provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.43. The firm had revenue of $548.90 million for the quarter, compared to the consensus estimate of $545.69 million. Masimo had a net margin of 3.98% and a return on equity of 13.77%. The business’s quarterly revenue was down 11.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.32 EPS. On average, analysts predict that Masimo Co. will post 3.51 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wells Fargo & Company upgraded Masimo from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $117.00 to $160.00 in a research report on Monday, March 25th. BTIG Research lifted their price objective on Masimo from $145.00 to $166.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Needham & Company LLC downgraded Masimo from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. StockNews.com raised shares of Masimo from a “sell” rating to a “hold” rating in a report on Friday, March 29th. Finally, Stifel Nicolaus upgraded shares of Masimo from a “hold” rating to a “buy” rating and increased their price objective for the company from $148.00 to $170.00 in a research report on Monday, April 15th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Masimo currently has an average rating of “Hold” and an average target price of $137.43.

Hedge Funds Weigh In On Masimo

Several hedge funds have recently added to or reduced their stakes in MASI. Massachusetts Financial Services Co. MA bought a new position in Masimo during the 3rd quarter valued at about $132,699,000. Eminence Capital LP bought a new position in Masimo during the 3rd quarter valued at about $90,859,000. Schroder Investment Management Group grew its holdings in Masimo by 59.6% during the 4th quarter. Schroder Investment Management Group now owns 877,539 shares of the medical equipment provider’s stock valued at $102,856,000 after purchasing an additional 327,863 shares during the last quarter. Hawk Ridge Capital Management LP grew its holdings in Masimo by 124.4% during the 3rd quarter. Hawk Ridge Capital Management LP now owns 567,765 shares of the medical equipment provider’s stock valued at $49,782,000 after purchasing an additional 314,763 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its holdings in Masimo by 35.6% during the 4th quarter. Westfield Capital Management Co. LP now owns 818,476 shares of the medical equipment provider’s stock valued at $95,934,000 after purchasing an additional 214,795 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors.

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.