Martingale Asset Management L P trimmed its position in shares of Masimo Co. (NASDAQ:MASI) by 19.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,011 shares of the medical equipment provider’s stock after selling 11,798 shares during the quarter. Martingale Asset Management L P’s holdings in Masimo were worth $6,229,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of MASI. Principal Financial Group Inc. boosted its holdings in Masimo by 2.3% during the first 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 in the last quarter. State of Alaska Department of Revenue acquired a new stake in Masimo during the second quarter valued at approximately $534,000. Xact Kapitalforvaltning AB boosted its holdings in Masimo by 28.0% during the second quarter. Xact Kapitalforvaltning AB now owns 8,230 shares of the medical equipment provider’s stock valued at $804,000 after purchasing an additional 1,800 shares in the last quarter. Bank of Montreal Can boosted its holdings in Masimo by 3.1% during the second quarter. Bank of Montreal Can now owns 44,568 shares of the medical equipment provider’s stock valued at $4,352,000 after purchasing an additional 1,357 shares in the last quarter. Finally, Amalgamated Bank boosted its holdings in Masimo by 70.2% during the second quarter. Amalgamated Bank now owns 11,020 shares of the medical equipment provider’s stock valued at $1,076,000 after purchasing an additional 4,545 shares in the last quarter. 88.00% of the stock is owned by institutional investors.
In other news, Director Sanford Fitch sold 2,000 shares of Masimo stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $119.45, for a total value of $238,900.00. Following the completion of the transaction, the director now owns 55,832 shares in the company, valued at $6,669,132.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ramshorst David J. Van sold 1,325 shares of Masimo stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $125.00, for a total transaction of $165,625.00. Following the completion of the transaction, the insider now owns 2,325 shares of the company’s stock, valued at approximately $290,625. The disclosure for this sale can be found here. Insiders sold 666,033 shares of company stock valued at $79,900,568 in the last quarter. 12.60% of the stock is currently owned by corporate insiders.
Masimo (NASDAQ:MASI) last posted its earnings results on Wednesday, October 31st. The medical equipment provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Masimo had a net margin of 17.08% and a return on equity of 20.29%. The company had revenue of $210.58 million during the quarter, compared to analysts’ expectations of $207.62 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. Masimo’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, sell-side analysts forecast that Masimo Co. will post 2.92 EPS for the current fiscal year.
A number of equities research analysts have weighed in on MASI shares. BidaskClub downgraded Masimo from a “buy” rating to a “hold” rating in a report on Tuesday, November 13th. Zacks Investment Research downgraded Masimo from a “buy” rating to a “hold” rating in a report on Friday, November 16th. Stifel Nicolaus lifted their price objective on Masimo from $112.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, October 2nd. Needham & Company LLC started coverage on Masimo in a report on Friday, September 14th. They set a “buy” rating on the stock. Finally, Piper Jaffray Companies lifted their price objective on Masimo to $120.00 and gave the company a “neutral” rating in a report on Thursday, November 1st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Masimo presently has a consensus rating of “Buy” and a consensus target price of $114.40.
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Masimo Company Profile
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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