Truist Financial Corp Sells 2,652 Shares of Masimo Co. (NASDAQ:MASI)

Truist Financial Corp trimmed its stake in Masimo Co. (NASDAQ:MASI) by 39.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,128 shares of the medical equipment provider’s stock after selling 2,652 shares during the quarter. Truist Financial Corp’s holdings in Masimo were worth $520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Riverview Trust Co bought a new position in shares of Masimo during the 1st quarter worth approximately $25,000. GAMMA Investing LLC boosted its stake in shares of Masimo by 75.0% during the 2nd quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider’s stock worth $33,000 after acquiring an additional 111 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Masimo by 133.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 350 shares of the medical equipment provider’s stock worth $44,000 after acquiring an additional 200 shares during the period. HHM Wealth Advisors LLC boosted its stake in shares of Masimo by 25.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider’s stock worth $79,000 after acquiring an additional 125 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in shares of Masimo by 5,730.0% during the 1st quarter. Lazard Asset Management LLC now owns 583 shares of the medical equipment provider’s stock worth $85,000 after acquiring an additional 573 shares during the period. 85.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MASI. Piper Sandler lifted their target price on Masimo from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a report on Friday, September 20th. Finally, BTIG Research lifted their price target on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a report on Monday. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $145.33.

Masimo Price Performance

Shares of NASDAQ MASI opened at $144.56 on Thursday. The stock has a market capitalization of $7.69 billion, a PE ratio of 98.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.09 and a quick ratio of 1.15. The business has a fifty day moving average price of $125.01 and a two-hundred day moving average price of $125.12. Masimo Co. has a fifty-two week low of $75.22 and a fifty-two week high of $153.93.

Masimo (NASDAQ:MASI) last announced its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.09. The firm had revenue of $496.30 million during the quarter, compared to analysts’ expectations of $493.92 million. Masimo had a return on equity of 14.07% and a net margin of 3.94%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.62 EPS. As a group, equities analysts predict that Masimo Co. will post 3.88 earnings per share for the current fiscal year.

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.