Insider Selling: Masimo Co. (NASDAQ:MASI) COO Sells 30,000 Shares of Stock

Masimo Co. (NASDAQ:MASI) COO Bilal Muhsin sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $167.49, for a total transaction of $5,024,700.00. Following the transaction, the chief operating officer now directly owns 24,172 shares of the company’s stock, valued at $4,048,568.28. This represents a 55.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Masimo Stock Performance

Shares of Masimo stock traded up $1.15 during trading on Wednesday, hitting $167.67. 943,106 shares of the company’s stock traded hands, compared to its average volume of 625,181. Masimo Co. has a 1 year low of $101.61 and a 1 year high of $194.88. The business has a 50-day simple moving average of $174.96 and a 200-day simple moving average of $156.95. The stock has a market capitalization of $9.05 billion, a P/E ratio of 115.63 and a beta of 1.03. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11.

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

Institutional Investors Weigh In On Masimo

A number of large investors have recently added to or reduced their stakes in MASI. Assetmark Inc. boosted its stake in shares of Masimo by 12.7% in the 3rd quarter. Assetmark Inc. now owns 1,183 shares of the medical equipment provider’s stock worth $158,000 after buying an additional 133 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in Masimo by 14.4% in the third quarter. Crossmark Global Holdings Inc. now owns 3,248 shares of the medical equipment provider’s stock worth $433,000 after purchasing an additional 409 shares during the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of Masimo by 1.2% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 16,736 shares of the medical equipment provider’s stock valued at $2,231,000 after purchasing an additional 194 shares during the period. Versor Investments LP grew its stake in shares of Masimo by 81.7% during the 3rd quarter. Versor Investments LP now owns 9,591 shares of the medical equipment provider’s stock valued at $1,279,000 after purchasing an additional 4,313 shares during the period. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Masimo during the 3rd quarter valued at about $478,000. Institutional investors own 85.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MASI. Wells Fargo & Company raised their price objective on Masimo from $193.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Piper Sandler lifted their price target 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 reiterated a “hold” rating on shares of Masimo in a research note on Wednesday, February 26th. Stifel Nicolaus restated a “buy” rating and set a $190.00 price objective (up from $170.00) on shares of Masimo in a research note on Friday, November 22nd. Finally, 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 note on Friday, December 27th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.