Canada Pension Plan Investment Board Lowers Holdings in Masimo Co. (NASDAQ:MASI)

Canada Pension Plan Investment Board reduced its stake in shares of Masimo Co. (NASDAQ:MASI - Free Report) by 84.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,100 shares of the medical equipment provider's stock after selling 88,200 shares during the quarter. Canada Pension Plan Investment Board's holdings in Masimo were worth $2,661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC grew its stake in Masimo by 19.8% during the fourth quarter. FMR LLC now owns 8,097,454 shares of the medical equipment provider's stock valued at $1,338,509,000 after acquiring an additional 1,340,836 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Masimo by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 4,586,702 shares of the medical equipment provider's stock valued at $758,182,000 after purchasing an additional 66,215 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Masimo by 119.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,735,167 shares of the medical equipment provider's stock worth $286,823,000 after purchasing an additional 943,001 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Masimo by 1,276.9% in the fourth quarter. Alliancebernstein L.P. now owns 947,391 shares of the medical equipment provider's stock worth $156,604,000 after buying an additional 878,587 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Masimo by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 801,125 shares of the medical equipment provider's stock valued at $132,465,000 after buying an additional 8,239 shares during the last quarter. Institutional investors own 85.96% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MASI shares. Raymond James upped their price objective on Masimo from $170.00 to $194.00 and gave the stock an "outperform" rating in a report on Friday, December 27th. Wells Fargo & Company increased their price objective on shares of Masimo from $193.00 to $205.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Needham & Company LLC restated a "hold" rating on shares of Masimo in a report on Thursday, April 10th. Finally, Piper Sandler increased their price target on shares of Masimo from $210.00 to $215.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Masimo presently has an average rating of "Moderate Buy" and a consensus price target of $194.80.

Insider Buying and Selling

In other news, Director Craig B. Reynolds sold 2,053 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $166.13, for a total value of $341,064.89. Following the transaction, the director now directly owns 16,581 shares in the company, valued at approximately $2,754,601.53. This represents a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Bilal Muhsin sold 30,000 shares of Masimo stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $167.49, for a total transaction of $5,024,700.00. Following the sale, the chief operating officer now owns 24,172 shares of the company's stock, valued at $4,048,568.28. The trade was a 55.38 % decrease in their position. The disclosure for this sale can be found here. 9.70% of the stock is owned by corporate insiders.

Masimo Trading Up 1.9 %

MASI stock opened at $152.07 on Wednesday. Masimo Co. has a twelve month low of $101.61 and a twelve month high of $194.88. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of 104.88 and a beta of 1.28. The company has a quick ratio of 1.11, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. The firm's fifty day simple moving average is $166.89 and its two-hundred day simple moving average is $165.11.

Masimo (NASDAQ:MASI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The medical equipment provider reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.38. The company had revenue of $600.70 million for the quarter, compared to analyst estimates of $593.35 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. As a group, analysts anticipate that Masimo Co. will post 4.1 earnings per share for the current year.

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.

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