Sterling Capital Management LLC Sells 14,718 Shares of Masimo Co. (NASDAQ:MASI)

Sterling Capital Management LLC lessened its stake in shares of Masimo Co. (NASDAQ:MASI - Free Report) by 36.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,221 shares of the medical equipment provider's stock after selling 14,718 shares during the quarter. Sterling Capital Management LLC's holdings in Masimo were worth $4,334,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MASI. Jones Financial Companies Lllp acquired a new position in shares of Masimo during the fourth quarter valued at about $27,000. UMB Bank n.a. lifted its position in Masimo by 180.9% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the medical equipment provider's stock valued at $32,000 after acquiring an additional 123 shares in the last quarter. Blue Trust Inc. boosted its stake in Masimo by 56.3% during the 4th quarter. Blue Trust Inc. now owns 197 shares of the medical equipment provider's stock valued at $33,000 after purchasing an additional 71 shares during the last quarter. Trust Co. of Vermont bought a new stake in Masimo during the 4th quarter worth approximately $33,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Masimo by 40.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 224 shares of the medical equipment provider's stock worth $37,000 after purchasing an additional 64 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Masimo Stock Performance

Shares of NASDAQ:MASI traded up $0.47 during midday trading on Friday, reaching $152.15. The company had a trading volume of 457,368 shares, compared to its average volume of 656,640. Masimo Co. has a 52-week low of $101.61 and a 52-week high of $194.88. The company's 50 day moving average price is $168.54 and its 200 day moving average price is $164.58. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The stock has a market cap of $8.22 billion, a P/E ratio of 104.93 and a beta of 1.28.

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

Insider Transactions at Masimo

In related news, COO Bilal Muhsin sold 30,000 shares of Masimo stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $167.49, for a total value of $5,024,700.00. Following the completion of the transaction, the chief operating officer now directly owns 24,172 shares in the company, valued at approximately $4,048,568.28. The trade was a 55.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Craig B. Reynolds sold 2,053 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $166.13, for a total value of $341,064.89. Following the sale, 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. 16.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.