Raymond James & Associates Sells 5,483 Shares of Masimo Co. (NASDAQ:MASI)

Raymond James & Associates cut its holdings in shares of Masimo Co. (NASDAQ:MASI) by 3.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 175,050 shares of the medical equipment provider’s stock after selling 5,483 shares during the period. Raymond James & Associates owned 0.33% of Masimo worth $23,339,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of MASI. Cardinal Capital Management boosted its stake in Masimo by 19.9% in the third quarter. Cardinal Capital Management now owns 18,517 shares of the medical equipment provider’s stock valued at $2,469,000 after acquiring an additional 3,077 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in Masimo during the 3rd quarter worth $242,000. NBC Securities Inc. increased its position in Masimo by 47.1% during the 3rd quarter. NBC Securities Inc. now owns 228 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 73 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in Masimo by 17.4% in the third quarter. Exchange Traded Concepts LLC now owns 12,550 shares of the medical equipment provider’s stock valued at $1,673,000 after buying an additional 1,862 shares during the last quarter. Finally, Inspire Investing LLC acquired a new stake in Masimo in the third quarter worth about $395,000. Institutional investors own 85.96% of the company’s stock.

Masimo Stock Down 0.9 %

MASI stock opened at $140.74 on Friday. The firm’s fifty day moving average is $127.05 and its 200 day moving average is $125.29. The firm has a market cap of $7.48 billion, a PE ratio of 95.74 and a beta of 0.99. Masimo Co. has a one year low of $75.36 and a one year high of $153.93. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 2.09.

Masimo (NASDAQ:MASI) last announced its quarterly earnings results 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 analyst estimates of $493.92 million. Masimo had a return on equity of 14.07% and a net margin of 3.94%. Masimo’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 EPS. On average, research analysts forecast that Masimo Co. will post 3.88 EPS for the current year.

Wall Street Analyst Weigh In

MASI has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research report on Friday, September 20th. BTIG Research upped their price objective on shares of Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Piper Sandler reissued an “overweight” rating on shares of Masimo in a report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Masimo has a consensus rating of “Moderate Buy” and a consensus target price of $145.33.

Masimo 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.