Wells Fargo & Company MN Lowers Position in Masimo Co. (NASDAQ:MASI)

Wells Fargo & Company MN trimmed its position in shares of Masimo Co. (NASDAQ:MASI - Free Report) by 61.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,743 shares of the medical equipment provider's stock after selling 31,855 shares during the period. Wells Fargo & Company MN's holdings in Masimo were worth $3,264,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings in Masimo by 31.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 250 shares of the medical equipment provider's stock worth $42,000 after purchasing an additional 60 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Masimo by 40.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 224 shares of the medical equipment provider's stock valued at $37,000 after buying an additional 64 shares during the period. Blue Trust Inc. raised its stake in Masimo by 56.3% in the fourth quarter. Blue Trust Inc. now owns 197 shares of the medical equipment provider's stock worth $33,000 after buying an additional 71 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Masimo by 0.8% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,815 shares of the medical equipment provider's stock worth $1,622,000 after buying an additional 82 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in Masimo by 0.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 10,456 shares of the medical equipment provider's stock valued at $1,728,000 after acquiring an additional 83 shares in the last quarter. 85.96% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, COO Bilal Muhsin sold 30,000 shares of Masimo stock in a transaction on Monday, March 10th. The stock was sold at an average price of $167.49, for a total value of $5,024,700.00. Following the completion of the sale, the chief operating officer now owns 24,172 shares of the company's stock, valued at $4,048,568.28. The trade was a 55.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Craig B. Reynolds sold 2,053 shares of the stock in a transaction dated Friday, March 14th. The shares were 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 directly 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.

Analyst Ratings Changes

MASI has been the subject of several research reports. Piper Sandler increased their target price on Masimo from $210.00 to $215.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Needham & Company LLC reissued a "hold" rating on shares of Masimo in a research report on Thursday, April 10th. Raymond James upped their target price on shares of Masimo from $170.00 to $194.00 and gave the stock an "outperform" rating in a research report on Friday, December 27th. Finally, Wells Fargo & Company lifted their price target on shares of Masimo from $193.00 to $205.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Masimo presently has a consensus rating of "Moderate Buy" and a consensus price target of $194.80.

Masimo Stock Up 0.7 %

Shares of NASDAQ:MASI traded up $1.11 during trading on Friday, reaching $163.74. 324,452 shares of the stock traded hands, compared to its average volume of 662,205. Masimo Co. has a 52-week low of $101.61 and a 52-week high of $194.88. The stock has a market cap of $8.85 billion, a P/E ratio of 112.92 and a beta of 1.28. The stock has a 50-day moving average of $166.04 and a two-hundred day moving average of $165.25. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01.

Masimo (NASDAQ:MASI - Get Free Report) last posted its earnings results on Tuesday, February 25th. The medical equipment provider reported $1.80 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $593.35 million. As a group, sell-side analysts expect that Masimo Co. will post 4.1 earnings per share for the current fiscal year.

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.