Corebridge Financial Inc. Reduces Stake in Masimo Co. (NASDAQ:MASI)

Corebridge Financial Inc. reduced its holdings in shares of Masimo Co. (NASDAQ:MASI - Free Report) by 3.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,536 shares of the medical equipment provider's stock after selling 1,930 shares during the quarter. Corebridge Financial Inc. owned about 0.09% of Masimo worth $8,354,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MASI. National Bank of Canada FI lifted its position in shares of Masimo by 195.6% during the third quarter. National Bank of Canada FI now owns 132,500 shares of the medical equipment provider's stock worth $17,666,000 after acquiring an additional 87,675 shares in the last quarter. Lecap Asset Management Ltd. purchased a new stake in Masimo during the 4th quarter worth about $1,607,000. Nisa Investment Advisors LLC boosted its stake in Masimo by 16,740.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,052 shares of the medical equipment provider's stock worth $835,000 after purchasing an additional 5,022 shares during the period. Trust Point Inc. purchased a new position in Masimo during the 4th quarter valued at about $230,000. Finally, Barclays PLC increased its position in shares of Masimo by 152.6% during the third quarter. Barclays PLC now owns 39,957 shares of the medical equipment provider's stock valued at $5,329,000 after buying an additional 24,137 shares during the period. 85.96% of the stock is owned by institutional investors.

Masimo Price Performance

MASI stock traded up $1.01 during midday trading on Tuesday, reaching $167.61. The company had a trading volume of 373,879 shares, compared to its average volume of 639,303. The firm has a 50-day moving average price of $174.50 and a 200-day moving average price of $162.48. The company has a market capitalization of $9.06 billion, a P/E ratio of 115.59 and a beta of 1.04. Masimo Co. has a 1 year low of $101.61 and a 1 year high of $194.88. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11.

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Masimo (NASDAQ:MASI - Get Free Report) last released its earnings results on Tuesday, February 25th. The medical equipment provider reported $1.80 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.38. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The business had revenue of $600.70 million for the quarter, compared to analysts' expectations of $593.35 million. On average, research analysts anticipate that Masimo Co. will post 4.1 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

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

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.