Sumitomo Mitsui Trust Group Inc. Sells 18,843 Shares of Masimo Co. (NASDAQ:MASI)

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Masimo Co. (NASDAQ:MASI - Free Report) by 4.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 372,183 shares of the medical equipment provider's stock after selling 18,843 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.70% of Masimo worth $49,623,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Versor Investments LP increased its holdings in Masimo by 81.7% during the 3rd quarter. Versor Investments LP now owns 9,591 shares of the medical equipment provider's stock worth $1,279,000 after purchasing an additional 4,313 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in Masimo by 1.2% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 16,736 shares of the medical equipment provider's stock worth $2,231,000 after acquiring an additional 194 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Masimo by 14.4% in the third quarter. Crossmark Global Holdings Inc. now owns 3,248 shares of the medical equipment provider's stock valued at $433,000 after purchasing an additional 409 shares during the last quarter. Montanaro Asset Management Ltd boosted its holdings in Masimo by 3.7% during the third quarter. Montanaro Asset Management Ltd now owns 55,700 shares of the medical equipment provider's stock worth $7,426,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Assetmark Inc. grew its position in Masimo by 12.7% in the 3rd quarter. Assetmark Inc. now owns 1,183 shares of the medical equipment provider's stock worth $158,000 after purchasing an additional 133 shares in the last quarter. 85.96% of the stock is currently owned by institutional investors.

Masimo Trading Up 0.6 %

Masimo stock traded up $0.92 during mid-day trading on Friday, reaching $161.07. 544,540 shares of the company traded hands, compared to its average volume of 679,682. Masimo Co. has a 52-week low of $91.25 and a 52-week high of $173.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11. The firm's 50 day moving average price is $138.18 and its 200 day moving average price is $126.95. The firm has a market capitalization of $8.62 billion, a price-to-earnings ratio of 111.08 and a beta of 0.97.

Masimo (NASDAQ:MASI - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.14. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The company had revenue of $504.60 million during the quarter, compared to analyst estimates of $502.87 million. During the same period last year, the business earned $0.63 EPS. Masimo's quarterly revenue was up 5.4% compared to the same quarter last year. On average, analysts anticipate that Masimo Co. will post 4.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on MASI shares. Raymond James raised Masimo from a "market perform" rating to an "outperform" rating and set a $170.00 price target for the company in a research report on Wednesday, November 6th. Needham & Company LLC restated a "hold" rating on shares of Masimo in a research report on Wednesday, November 6th. Piper Sandler boosted their target price on shares of Masimo from $165.00 to $180.00 and gave the company an "overweight" rating in a research note on Wednesday, November 6th. Wells Fargo & Company upped their price objective on Masimo from $160.00 to $171.00 and gave the company an "overweight" rating in a research note on Wednesday, November 6th. Finally, BTIG Research upped their price target on Masimo from $166.00 to $170.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Masimo currently has an average rating of "Moderate Buy" and an average price target of $163.67.

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.