Handelsinvest Investeringsforvaltning Sells 1,107 Shares of Masimo Co. (NASDAQ:MASI)

Handelsinvest Investeringsforvaltning trimmed its position in Masimo Co. (NASDAQ:MASI) by 34.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,132 shares of the medical equipment provider’s stock after selling 1,107 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Masimo were worth $313,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. SeaCrest Wealth Management LLC bought a new position in Masimo in the 1st quarter valued at $263,000. State of Michigan Retirement System boosted its holdings in Masimo by 1.9% in the 1st quarter. State of Michigan Retirement System now owns 10,896 shares of the medical equipment provider’s stock valued at $1,600,000 after purchasing an additional 200 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Masimo by 90.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 46,607 shares of the medical equipment provider’s stock valued at $6,844,000 after purchasing an additional 22,141 shares during the period. Cardinal Capital Management boosted its holdings in Masimo by 25.1% in the 1st quarter. Cardinal Capital Management now owns 14,764 shares of the medical equipment provider’s stock valued at $2,168,000 after purchasing an additional 2,962 shares during the period. Finally, Riverview Trust Co bought a new position in Masimo in the 1st quarter valued at $25,000. 85.96% of the stock is owned by institutional investors.

Insider Activity at Masimo

In other Masimo news, Director Craig B. Reynolds sold 40,000 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $136.17, for a total transaction of $5,446,800.00. Following the completion of the transaction, the director now owns 7,406 shares in the company, valued at $1,008,475.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.70% of the stock is currently owned by corporate insiders.

Masimo Trading Up 0.7 %

NASDAQ:MASI opened at $114.17 on Thursday. Masimo Co. has a one year low of $75.22 and a one year high of $162.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.31 and a quick ratio of 1.31. The company’s 50-day simple moving average is $127.85 and its 200 day simple moving average is $129.14. The firm has a market capitalization of $6.07 billion, a P/E ratio of 77.67 and a beta of 0.97.

Masimo (NASDAQ:MASI) last announced its quarterly earnings data on Tuesday, May 7th. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The firm had revenue of $492.80 million during the quarter, compared to analysts’ expectations of $487.70 million. Masimo had a net margin of 4.01% and a return on equity of 13.26%. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.87 earnings per share. As a group, analysts forecast that Masimo Co. will post 3.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Piper Sandler raised shares of Masimo from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $126.00 to $160.00 in a report on Monday, June 3rd. Wells Fargo & Company raised shares of Masimo from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $117.00 to $160.00 in a report on Monday, March 25th. BTIG Research lifted their price objective on shares of Masimo from $145.00 to $166.00 and gave the stock a “buy” rating in a report on Monday, March 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a report on Wednesday, May 8th. Finally, StockNews.com raised shares of Masimo from a “sell” rating to a “hold” rating in a report on Friday, March 29th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $143.57.

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.