Montanaro Asset Management Ltd Decreases Stake in Masimo Corporation $MASI

Montanaro Asset Management Ltd lowered its position in Masimo Corporation (NASDAQ:MASI) by 29.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,860 shares of the medical equipment provider’s stock after selling 9,440 shares during the quarter. Montanaro Asset Management Ltd’s holdings in Masimo were worth $3,846,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MASI. Durable Capital Partners LP purchased a new position in Masimo in the first quarter worth approximately $187,528,000. Massachusetts Financial Services Co. MA lifted its stake in Masimo by 13.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,967,838 shares of the medical equipment provider’s stock worth $327,842,000 after acquiring an additional 232,671 shares during the last quarter. Nuveen LLC purchased a new position in Masimo in the first quarter worth approximately $25,830,000. Alyeska Investment Group L.P. lifted its stake in Masimo by 24.9% in the first quarter. Alyeska Investment Group L.P. now owns 722,534 shares of the medical equipment provider’s stock worth $120,374,000 after acquiring an additional 143,899 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Masimo by 26.3% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 471,041 shares of the medical equipment provider’s stock worth $79,239,000 after acquiring an additional 98,063 shares during the last quarter. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Insider Activity at Masimo

In related news, Director William R. Jellison bought 3,000 shares of the firm’s stock in a transaction on Monday, August 11th. The shares were bought at an average cost of $145.98 per share, for a total transaction of $437,940.00. Following the transaction, the director owned 4,790 shares of the company’s stock, valued at approximately $699,244.20. This trade represents a 167.60% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 9.70% of the company’s stock.

Masimo Stock Performance

Shares of MASI opened at $140.65 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.61 and a current ratio of 2.14. The stock has a market capitalization of $7.64 billion, a P/E ratio of -16.51 and a beta of 1.28. The company’s fifty day moving average is $144.80 and its two-hundred day moving average is $154.12. Masimo Corporation has a 1 year low of $133.70 and a 1 year high of $194.88.

Masimo (NASDAQ:MASI) last announced its quarterly earnings data on Thursday, June 20th. The medical equipment provider reported $1.42 earnings per share (EPS) for the quarter. The company had revenue of $617.00 million for the quarter. Masimo had a negative net margin of 24.85% and a positive return on equity of 26.54%. On average, sell-side analysts predict that Masimo Corporation will post 4.1 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on MASI shares. Weiss Ratings restated a “sell (d)” rating on shares of Masimo in a research report on Wednesday, October 8th. BTIG Research restated a “buy” rating and set a $198.00 price objective on shares of Masimo in a research report on Thursday, September 11th. Zacks Research downgraded shares of Masimo from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 24th. Piper Sandler boosted their price objective on shares of Masimo from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen raised shares of Masimo from a “hold” rating to a “buy” rating in a report on Tuesday, October 14th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Masimo currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.60.

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.