Bank of Montreal Can Cuts Stock Holdings in Masimo Co. (NASDAQ:MASI)

Bank of Montreal Can lessened its holdings in Masimo Co. (NASDAQ:MASI - Free Report) by 50.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,729 shares of the medical equipment provider's stock after selling 5,788 shares during the quarter. Bank of Montreal Can's holdings in Masimo were worth $760,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MASI. Riverview Trust Co bought a new position in shares of Masimo in the first quarter worth approximately $25,000. GAMMA Investing LLC lifted 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 in the last quarter. Lazard Asset Management LLC lifted its stake in shares of Masimo by 5,730.0% in the first quarter. Lazard Asset Management LLC now owns 583 shares of the medical equipment provider's stock worth $85,000 after buying an additional 573 shares in the last quarter. HHM Wealth Advisors LLC lifted its stake in shares of Masimo by 25.0% in the second quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider's stock worth $79,000 after buying an additional 125 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of Masimo by 16.4% in the second quarter. Fifth Third Bancorp now owns 695 shares of the medical equipment provider's stock worth $88,000 after buying an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 85.96% of the company's stock.

Masimo Stock Performance

MASI stock traded up $4.27 during midday trading on Tuesday, reaching $139.94. 992,667 shares of the company's stock traded hands, compared to its average volume of 684,604. Masimo Co. has a 52-week low of $75.22 and a 52-week high of $153.93. The stock has a market cap of $7.44 billion, a P/E ratio of 95.20 and a beta of 0.99. The company has a current ratio of 2.09, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. The stock's 50-day moving average is $121.01 and its 200 day moving average is $125.02.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on MASI shares. Piper Sandler upped their target price on shares of Masimo from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 7th. Needham & Company LLC restated a "hold" rating on shares of Masimo in a research report on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $144.67.

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.