Alps Advisors Inc. decreased its stake in Masimo Corp. (NASDAQ:MASI) by 6.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,195 shares of the company’s stock after selling 752 shares during the period. Alps Advisors Inc.’s holdings in Masimo Corp. were worth $535,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MASI. Diversified Trust Co purchased a new position in Masimo Corp. during the second quarter valued at approximately $215,000. Pitcairn Co. purchased a new position in Masimo Corp. during the second quarter valued at approximately $330,000. Eqis Capital Management Inc. raised its position in Masimo Corp. by 21.5% in the second quarter. Eqis Capital Management Inc. now owns 7,012 shares of the company’s stock valued at $368,000 after buying an additional 1,241 shares during the period. Meeder Asset Management Inc. purchased a new position in Masimo Corp. during the second quarter valued at approximately $440,000. Finally, Adams Diversified Equity Fund Inc. purchased a new position in Masimo Corp. during the second quarter valued at approximately $530,000. 79.88% of the stock is currently owned by institutional investors.
Masimo Corp. (NASDAQ:MASI) traded up 0.86% on Monday, hitting $60.00. The stock had a trading volume of 363,932 shares. Masimo Corp. has a 12-month low of $33.03 and a 12-month high of $60.52. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 31.46 and a beta of 0.70. The company’s 50 day moving average price is $58.98 and its 200-day moving average price is $51.07.
Masimo Corp. (NASDAQ:MASI) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.16. The firm earned $172.64 million during the quarter, compared to the consensus estimate of $166.02 million. Masimo Corp. had a return on equity of 29.07% and a net margin of 15.40%. Masimo Corp.’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.36 earnings per share. Equities research analysts anticipate that Masimo Corp. will post $2.02 EPS for the current year.
Several research firms have commented on MASI. BTIG Research reaffirmed a “hold” rating on shares of Masimo Corp. in a research report on Friday, August 5th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $55.00 target price (up previously from $52.00) on shares of Masimo Corp. in a report on Friday, August 5th. Finally, Wedbush reissued an “outperform” rating and issued a $63.00 target price (up previously from $60.00) on shares of Masimo Corp. in a report on Thursday, August 4th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $52.60.
In related news, CEO Joe E. Kiani sold 49,484 shares of the stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $60.18, for a total value of $2,977,947.12. Following the completion of the transaction, the chief executive officer now owns 158,911 shares of the company’s stock, valued at $9,563,263.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sanford Fitch sold 3,000 shares of the stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $53.48, for a total value of $160,440.00. Following the completion of the transaction, the director now directly owns 58,000 shares of the company’s stock, valued at approximately $3,101,840. The disclosure for this sale can be found here. 16.60% of the stock is owned by corporate insiders.
Masimo Corp. Company Profile
Masimo Corporation is a medical technology company that develops, manufactures and markets non-invasive patient monitoring products. The Company’s business is measure-through-motion and low-perfusion pulse oximetry monitoring, known as Masimo Signal Extraction Technology (SET) pulse oximetry. Its product offerings include monitoring blood constituents with an optical signature, optical organ oximetry monitoring, electrical brain function monitoring, acoustic respiration monitoring and exhaled gas monitoring.
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