Masimo (NASDAQ:MASI) Shares Down 3.6%

Masimo Co. (NASDAQ:MASI)’s stock price fell 3.6% on Tuesday . The stock traded as low as $108.12 and last traded at $108.65. 37,219 shares traded hands during trading, a decline of 94% from the average session volume of 634,788 shares. The stock had previously closed at $112.65.

Analyst Ratings Changes

Several research firms have weighed in on MASI. BTIG Research raised their target price on shares of Masimo from $145.00 to $166.00 and gave the company a “buy” rating in a report on Monday, March 25th. Stifel Nicolaus raised shares of Masimo from a “hold” rating to a “buy” rating and raised their price target for the stock from $148.00 to $170.00 in a research note on Monday, April 15th. Piper Sandler raised shares of Masimo from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $126.00 to $160.00 in a research note on Monday, June 3rd. StockNews.com raised shares of Masimo from a “sell” rating to a “hold” rating in a research note on Friday, March 29th. Finally, Wells Fargo & Company raised shares of Masimo from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $117.00 to $160.00 in a research note on Monday, March 25th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Masimo currently has a consensus rating of “Moderate Buy” and an average target price of $143.57.

Masimo Price Performance

The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 72.79 and a beta of 0.97. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.31 and a quick ratio of 1.31. The company’s 50-day moving average is $125.44 and its 200-day moving average is $128.96.

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

Insider Buying and Selling at Masimo

In other news, Director Craig B. Reynolds sold 40,000 shares of Masimo stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $136.17, for a total transaction of $5,446,800.00. Following the sale, the director now owns 7,406 shares in the company, valued at $1,008,475.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Masimo

Hedge funds have recently made changes to their positions in the company. Riverview Trust Co purchased a new stake in shares of Masimo during the first quarter valued at approximately $25,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Masimo by 140.6% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 243 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 142 shares during the last quarter. Byrne Asset Management LLC bought a new stake in shares of Masimo in the fourth quarter worth $28,000. GAMMA Investing LLC increased its stake in shares of Masimo by 75.0% in the second quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider’s stock worth $33,000 after buying an additional 111 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Masimo by 851.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 295 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 264 shares during the last quarter. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Masimo Company 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.