Frontier Capital Management Co. LLC reduced its holdings in shares of Masimo Co. (NASDAQ:MASI) by 28.7% in the first quarter, HoldingsChannel.com reports. The fund owned 40,935 shares of the medical equipment provider’s stock after selling 16,441 shares during the quarter. Frontier Capital Management Co. LLC’s holdings in Masimo were worth $5,660,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of MASI. Claybrook Capital LLC bought a new position in shares of Masimo in the 4th quarter worth about $25,000. West Oak Capital LLC bought a new stake in Masimo in the 1st quarter valued at about $28,000. Ruggie Capital Group bought a new stake in Masimo in the 4th quarter valued at about $33,000. Quantamental Technologies LLC bought a new stake in Masimo in the 4th quarter valued at about $43,000. Finally, Financial Gravity Companies Inc. bought a new stake in Masimo in the 4th quarter valued at about $49,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.
In other news, CAO Ramshorst David J. Van sold 1,850 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.00, for a total value of $268,250.00. Following the transaction, the chief accounting officer now owns 1,350 shares in the company, valued at approximately $195,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Ramshorst David J. Van sold 1,845 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $140.00, for a total value of $258,300.00. Following the completion of the transaction, the chief accounting officer now owns 1,695 shares in the company, valued at approximately $237,300. The disclosure for this sale can be found here. Insiders have sold a total of 45,572 shares of company stock valued at $6,300,560 over the last three months. Corporate insiders own 11.50% of the company’s stock.
Shares of MASI opened at $138.50 on Tuesday. The company has a market cap of $7.51 billion, a price-to-earnings ratio of 45.71, a P/E/G ratio of 2.81 and a beta of 1.12. Masimo Co. has a 52 week low of $96.14 and a 52 week high of $147.91.
Masimo (NASDAQ:MASI) last issued its quarterly earnings data on Monday, May 6th. The medical equipment provider reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. The firm had revenue of $231.70 million during the quarter, compared to analyst estimates of $223.67 million. Masimo had a return on equity of 18.61% and a net margin of 22.49%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 EPS. On average, sell-side analysts predict that Masimo Co. will post 3.12 earnings per share for the current fiscal year.
MASI has been the subject of a number of research analyst reports. BidaskClub raised Masimo from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 14th. BTIG Research lowered Masimo from a “buy” rating to a “neutral” rating and set a $134.50 target price for the company. in a research report on Tuesday, April 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $158.00 target price (up from $155.00) on shares of Masimo in a research report on Tuesday, May 7th. UBS Group boosted their target price on Masimo from $147.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $140.00 target price on shares of Masimo in a research report on Wednesday, February 27th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $154.25.
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Masimo Company Profile
Masimo Corporation, a medical technology company, develops, manufactures, and markets noninvasive monitoring technologies 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.
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