Masimo (NASDAQ:MASI) Stock Price Down 3.4% After Insider Selling

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Shares of Masimo Co. (NASDAQ:MASI) were down 3.4% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $246.92 and last traded at $246.92. Approximately 965 shares changed hands during trading, a decline of 100% from the average daily volume of 278,529 shares. The stock had previously closed at $255.69.

Specifically, EVP Tao Levy sold 3,000 shares of the firm’s stock in a transaction dated Monday, December 6th. The stock was sold at an average price of $275.47, for a total transaction of $826,410.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Adam Mikkelson sold 600 shares of the firm’s stock in a transaction dated Monday, January 10th. The shares were sold at an average price of $250.01, for a total value of $150,006.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 136,989 shares of company stock worth $40,575,344. 9.10% of the stock is owned by corporate insiders.

Several equities research analysts have issued reports on the company. Raymond James assumed coverage on Masimo in a report on Tuesday, October 12th. They set a “market perform” rating on the stock. Piper Sandler lifted their price objective on Masimo from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, November 15th. Finally, Zacks Investment Research upgraded Masimo from a “hold” rating to a “buy” rating and set a $298.00 target price for the company in a research report on Monday, September 27th.

The company has a market cap of $12.87 billion, a price-to-earnings ratio of 58.12 and a beta of 0.73. The firm has a 50-day moving average price of $281.68 and a 200 day moving average price of $276.08.

Masimo (NASDAQ:MASI) last issued its earnings results on Monday, October 25th. The medical equipment provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.91 by $0.03. Masimo had a return on equity of 15.56% and a net margin of 19.23%. The company had revenue of $307.40 million during the quarter, compared to analyst estimates of $295.79 million. During the same quarter last year, the firm earned $0.80 EPS. The business’s revenue was up 10.5% on a year-over-year basis. As a group, sell-side analysts expect that Masimo Co. will post 3.88 EPS for the current year.

Large investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp boosted its position in Masimo by 51.1% during the 3rd quarter. Fifth Third Bancorp now owns 136 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 46 shares during the period. Isthmus Partners LLC acquired a new position in Masimo during the 2nd quarter valued at approximately $36,000. Dupont Capital Management Corp acquired a new position in Masimo during the 3rd quarter valued at approximately $46,000. Altshuler Shaham Ltd acquired a new position in Masimo during the 3rd quarter valued at approximately $49,000. Finally, Ibex Wealth Advisors acquired a new position in Masimo during the 3rd quarter valued at approximately $54,000. Institutional investors and hedge funds own 82.76% of the company’s stock.

Masimo Company Profile (NASDAQ:MASI)

Masimo Corp. is a medical technology company, which develops, manufactures and markets non invasive patient monitoring technologies, medical devices and sensors. Its products include continuous monitors, patient-worn monitors, hospital automation connectivity, capnography & gas, data download & analytics and sensors & accessories.

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