Dimensional Fund Advisors LP reduced its stake in shares of Masimo Corp. (NASDAQ:MASI) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,132,794 shares of the company’s stock after selling 38,486 shares during the period. Dimensional Fund Advisors LP owned 2.30% of Masimo Corp. worth $59,487,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its stake in shares of Masimo Corp. by 76.9% in the second quarter. Victory Capital Management Inc. now owns 2,148 shares of the company’s stock worth $113,000 after buying an additional 934 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Masimo Corp. during the second quarter worth approximately $155,000. Reynders McVeigh Capital Management LLC purchased a new stake in shares of Masimo Corp. during the second quarter worth approximately $203,000. Janney Capital Management LLC purchased a new stake in shares of Masimo Corp. during the second quarter worth approximately $205,000. Finally, Diversified Trust Co purchased a new stake in shares of Masimo Corp. during the second quarter worth approximately $215,000. 79.88% of the stock is currently owned by institutional investors and hedge funds.
Masimo Corp. (NASDAQ:MASI) traded down 0.38% during midday trading on Tuesday, hitting $59.77. The stock had a trading volume of 38,923 shares. The company has a market cap of $2.95 billion, a P/E ratio of 31.34 and a beta of 0.70. Masimo Corp. has a 12 month low of $33.03 and a 12 month high of $60.52. The firm’s 50-day moving average price is $58.98 and its 200 day moving average price is $51.07.
Masimo Corp. (NASDAQ:MASI) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.16. Masimo Corp. had a return on equity of 29.07% and a net margin of 15.40%. The firm earned $172.64 million during the quarter, compared to analysts’ expectations of $166.02 million. During the same period in the prior year, the business earned $0.36 EPS. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, analysts expect that Masimo Corp. will post $2.02 earnings per share for the current fiscal year.
A number of analysts have recently commented on the company. BTIG Research reissued a “hold” rating on shares of Masimo Corp. in a research note on Friday, August 5th. Piper Jaffray Cos. restated an “overweight” rating and set a $55.00 price objective (up from $52.00) on shares of Masimo Corp. in a research report on Friday, August 5th. Finally, Wedbush restated an “outperform” rating and set a $63.00 price objective (up from $60.00) on shares of Masimo Corp. in a research report on Thursday, August 4th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $52.60.
In related news, insider Rick Fishel sold 22,000 shares of the stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $53.85, for a total transaction of $1,184,700.00. Following the completion of the sale, the insider now directly owns 42,022 shares in the company, valued at approximately $2,262,884.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sanford Fitch sold 2,000 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $52.62, for a total value of $105,240.00. Following the sale, the director now owns 56,000 shares of the company’s stock, valued at $2,946,720. The disclosure for this sale can be found here. 16.60% of the stock is owned by insiders.
About Masimo Corp.
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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