Verus Capital Partners LLC Sells 400 Shares of Masimo Co. (NASDAQ:MASI)

Verus Capital Partners LLC lowered its position in Masimo Co. (NASDAQ:MASI) by 9.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,651 shares of the medical equipment provider’s stock after selling 400 shares during the quarter. Verus Capital Partners LLC’s holdings in Masimo were worth $536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Masimo by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 4,781,343 shares of the medical equipment provider’s stock valued at $560,421,000 after buying an additional 26,473 shares during the period. Capital Research Global Investors increased its position in Masimo by 6.4% during the 4th quarter. Capital Research Global Investors now owns 2,269,189 shares of the medical equipment provider’s stock valued at $265,972,000 after purchasing an additional 136,617 shares during the period. Massachusetts Financial Services Co. MA increased its position in Masimo by 6.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,607,310 shares of the medical equipment provider’s stock valued at $188,393,000 after purchasing an additional 93,861 shares during the period. Schroder Investment Management Group increased its position 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 period. Finally, Westfield Capital Management Co. LP increased its position 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 period. Institutional investors and hedge funds own 85.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MASI. StockNews.com raised shares of Masimo from a “sell” rating to a “hold” rating in a research report on Friday, March 29th. Stifel Nicolaus raised shares of Masimo from a “hold” rating to a “buy” rating and increased their target price for the company from $148.00 to $170.00 in a research report on Monday, April 15th. Piper Sandler upgraded Masimo from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $126.00 to $160.00 in a report on Monday, June 3rd. Needham & Company LLC restated a “hold” rating on shares of Masimo in a report on Tuesday, July 9th. Finally, Wells Fargo & Company upgraded Masimo from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $117.00 to $160.00 in a report on Monday, March 25th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $143.57.

Insider Buying and Selling at Masimo

In other news, Director Craig B. Reynolds sold 40,000 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $136.17, for a total transaction of $5,446,800.00. Following the completion of the transaction, the director now owns 7,406 shares of the company’s stock, valued at $1,008,475.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.70% of the company’s stock.

Masimo Stock Performance

Shares of Masimo stock traded down $2.61 during trading hours on Tuesday, hitting $106.27. 410,993 shares of the company’s stock traded hands, compared to its average volume of 636,784. Masimo Co. has a 12-month low of $75.22 and a 12-month high of $153.93. The stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of 74.07 and a beta of 0.97. The company has a fifty day simple moving average of $124.44 and a 200-day simple moving average of $128.95. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.31 and a quick ratio of 1.31.

Masimo (NASDAQ:MASI) last announced its earnings results on Tuesday, May 7th. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.06. Masimo had a return on equity of 13.26% and a net margin of 4.01%. The firm had revenue of $492.80 million during the quarter, compared to analyst estimates of $487.70 million. During the same period last year, the firm posted $0.87 EPS. The business’s revenue was down 12.8% compared to the same quarter last year. Equities research analysts anticipate that Masimo Co. will post 3.63 EPS for the current fiscal year.

Masimo Profile

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.