Picton Mahoney Asset Management Reduces Position in Masimo Co. (NASDAQ:MASI)

Picton Mahoney Asset Management lessened its stake in Masimo Co. (NASDAQ:MASI - Free Report) by 61.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,050 shares of the medical equipment provider's stock after selling 37,940 shares during the quarter. Picton Mahoney Asset Management's holdings in Masimo were worth $3,030,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MASI. Riverview Trust Co purchased a new position in Masimo during the 1st quarter valued at approximately $25,000. GAMMA Investing LLC increased its position in 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 purchasing an additional 111 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Masimo by 851.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 295 shares of the medical equipment provider's stock valued at $35,000 after purchasing an additional 264 shares in the last quarter. Parallel Advisors LLC lifted its position in Masimo by 48.3% during the fourth quarter. Parallel Advisors LLC now owns 445 shares of the medical equipment provider's stock valued at $52,000 after purchasing an additional 145 shares during the last quarter. Finally, WASHINGTON TRUST Co purchased a new position in shares of Masimo in the 1st quarter worth $67,000. Institutional investors own 85.96% of the company's stock.

Analyst Upgrades and Downgrades

MASI has been the topic of several recent research reports. Piper Sandler upped their target price on shares of Masimo from $160.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, August 7th. Needham & Company LLC restated a "hold" rating on shares of Masimo in a research report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Masimo has an average rating of "Moderate Buy" and a consensus price target of $144.67.

Masimo Trading Up 0.3 %

Masimo stock traded up $0.39 during midday trading on Friday, reaching $117.52. The stock had a trading volume of 227,276 shares, compared to its average volume of 642,207. The company has a quick ratio of 1.15, a current ratio of 2.09 and a debt-to-equity ratio of 0.55. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of 79.95 and a beta of 0.97. Masimo Co. has a 52-week low of $75.22 and a 52-week high of $153.93. The company has a fifty day moving average of $116.17 and a 200 day moving average of $126.75.

Masimo (NASDAQ:MASI - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.09. Masimo had a return on equity of 14.07% and a net margin of 3.94%. The firm had revenue of $496.30 million for the quarter, compared to the consensus estimate of $493.92 million. During the same period in the prior year, the business posted $0.62 earnings per share. The company's revenue for the quarter was up 9.0% on a year-over-year basis. On average, analysts anticipate that Masimo Co. will post 3.87 earnings per share 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.