California Public Employees Retirement System Reduces Position in Masimo Co. (NASDAQ:MASI)

California Public Employees Retirement System decreased its holdings in Masimo Co. (NASDAQ:MASI) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 70,229 shares of the medical equipment provider’s stock after selling 3,084 shares during the quarter. California Public Employees Retirement System owned 0.13% of Masimo worth $11,609,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of MASI. Corient Private Wealth LLC raised its holdings in shares of Masimo by 8,847.1% during the fourth quarter. Corient Private Wealth LLC now owns 347,683 shares of the medical equipment provider’s stock valued at $57,472,000 after purchasing an additional 343,797 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Masimo in the fourth quarter worth about $33,716,000. Assenagon Asset Management S.A. increased its position in shares of Masimo by 916.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 216,051 shares of the medical equipment provider’s stock valued at $35,713,000 after purchasing an additional 194,788 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Masimo by 95.9% in the third quarter. Two Sigma Advisers LP now owns 218,600 shares of the medical equipment provider’s stock worth $29,146,000 after buying an additional 107,000 shares during the last quarter. Finally, Great Lakes Advisors LLC purchased a new stake in Masimo during the fourth quarter valued at approximately $15,824,000. Institutional investors own 85.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on MASI. Piper Sandler upped their price objective on Masimo from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Raymond James upped their price objective on Masimo from $170.00 to $194.00 and gave the stock an “outperform” rating in a research note on Friday, December 27th. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a report on Wednesday, February 26th. 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 report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $194.80.

Insider Activity

In other news, Director Craig B. Reynolds sold 2,053 shares of the stock in a transaction that occurred 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 directly owns 16,581 shares in the company, valued at approximately $2,754,601.53. This represents a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Bilal Muhsin sold 30,000 shares of the business’s stock in a transaction 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 transaction, the chief operating officer now owns 24,172 shares of the company’s stock, valued at approximately $4,048,568.28. The trade was a 55.38 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.70% of the company’s stock.

Masimo Trading Down 5.2 %

MASI stock opened at $144.40 on Friday. The firm has a market cap of $7.80 billion, a PE ratio of 99.59 and a beta of 1.04. The firm has a fifty day moving average price of $173.64 and a 200 day moving average price of $163.02. 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 Co. has a fifty-two week low of $101.61 and a fifty-two week high of $194.88.

Masimo (NASDAQ:MASI) last posted its earnings results on Tuesday, February 25th. The medical equipment provider reported $1.80 earnings per share for the quarter, topping 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. Sell-side analysts anticipate 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.