Burney Co. Sells 2,263 Shares of Masimo Co. (NASDAQ:MASI)

Burney Co. reduced its position in Masimo Co. (NASDAQ:MASI) by 46.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,577 shares of the medical equipment provider’s stock after selling 2,263 shares during the quarter. Burney Co.’s holdings in Masimo were worth $356,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. West Oak Capital LLC bought a new stake in shares of Masimo in the 1st quarter valued at $28,000. Claybrook Capital LLC bought a new stake in shares of Masimo in the 4th quarter valued at $25,000. FinTrust Capital Advisors LLC bought a new stake in shares of Masimo in the 1st quarter valued at $61,000. Valeo Financial Advisors LLC bought a new stake in shares of Masimo in the 1st quarter valued at $69,000. Finally, Penserra Capital Management LLC bought a new stake in shares of Masimo in the 1st quarter valued at $92,000. 83.03% of the stock is currently owned by hedge funds and other institutional investors.

In other Masimo news, CEO Joe E. Kiani sold 100,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $150.14, for a total transaction of $15,014,000.00. Following the sale, the chief executive officer now directly owns 239,241 shares of the company’s stock, valued at $35,919,643.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Bilal Muhsin sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $135.00, for a total transaction of $1,350,000.00. Following the sale, the chief operating officer now directly owns 10,000 shares in the company, valued at $1,350,000. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 186,242 shares of company stock worth $27,360,053. Insiders own 11.50% of the company’s stock.

Several analysts have recently weighed in on MASI shares. BTIG Research lowered shares of Masimo from a “buy” rating to a “neutral” rating and set a $134.50 price objective for the company. in a research note on Tuesday, April 16th. Zacks Investment Research upgraded shares of Masimo from a “hold” rating to a “buy” rating and set a $153.00 price objective for the company in a research note on Wednesday, May 8th. Needham & Company LLC restated a “buy” rating and set a $155.00 price target (up previously from $148.00) on shares of Masimo in a research note on Wednesday, March 13th. Piper Jaffray Companies boosted their price target on shares of Masimo from $148.00 to $160.00 in a research note on Friday, May 17th. Finally, UBS Group boosted their price target on shares of Masimo from $147.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Masimo has an average rating of “Buy” and a consensus price target of $154.25.

Shares of NASDAQ:MASI traded down $0.64 during midday trading on Friday, reaching $149.87. The company had a trading volume of 320,397 shares, compared to its average volume of 355,254. The stock has a 50 day simple moving average of $141.50. The stock has a market capitalization of $7.99 billion, a PE ratio of 49.46, a P/E/G ratio of 2.99 and a beta of 1.14. Masimo Co. has a 52-week low of $96.14 and a 52-week high of $152.08.

Masimo (NASDAQ:MASI) last issued its quarterly earnings results on Monday, May 6th. The medical equipment provider reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.04. The company had revenue of $231.70 million for the quarter, compared to the consensus estimate of $223.67 million. Masimo had a net margin of 22.49% and a return on equity of 18.61%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 EPS. As a group, research analysts forecast that Masimo Co. will post 3.12 earnings per share for the current year.

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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Institutional Ownership by Quarter for Masimo (NASDAQ:MASI)

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