Municipal Employees Retirement System of Michigan Grows Stock Holdings in Masimo Co. (NASDAQ:MASI)
Municipal Employees Retirement System of Michigan raised its position in shares of Masimo Co. (NASDAQ:MASI) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,040 shares of the medical equipment provider’s stock after buying an additional 150 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Masimo were worth $1,345,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MASI. Financial Gravity Wealth Inc. purchased a new position in shares of Masimo during the second quarter worth $31,000. FinTrust Capital Advisors LLC purchased a new position in shares of Masimo during the first quarter worth $61,000. Valeo Financial Advisors LLC purchased a new position in shares of Masimo during the first quarter worth $69,000. NEXT Financial Group Inc boosted its position in shares of Masimo by 172.0% during the second quarter. NEXT Financial Group Inc now owns 544 shares of the medical equipment provider’s stock worth $81,000 after buying an additional 344 shares during the period. Finally, Penserra Capital Management LLC purchased a new position in shares of Masimo during the first quarter worth $92,000. Institutional investors and hedge funds own 81.92% of the company’s stock.
In other Masimo news, CEO Joe E. Kiani sold 18,437 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $160.02, for a total value of $2,950,288.74. Following the sale, the chief executive officer now directly owns 157,678 shares in the company, valued at $25,231,633.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joe E. Kiani sold 21,907 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $160.01, for a total value of $3,505,339.07. Following the completion of the sale, the chief executive officer now owns 159,838 shares in the company, valued at $25,575,678.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 255,075 shares of company stock valued at $38,222,741. 11.50% of the stock is currently owned by company insiders.
Masimo (NASDAQ:MASI) last released its earnings results on Wednesday, July 31st. The medical equipment provider reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.03. The firm had revenue of $229.60 million during the quarter, compared to analyst estimates of $222.46 million. Masimo had a return on equity of 17.82% and a net margin of 22.15%. Masimo’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business posted $0.73 earnings per share. As a group, equities analysts predict that Masimo Co. will post 3.15 EPS for the current year.
Several research analysts have recently commented on the company. BidaskClub lowered Masimo from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 6th. Piper Jaffray Companies lifted their target price on Masimo from $148.00 to $160.00 in a report on Friday, May 17th. UBS Group lifted their target price on Masimo from $172.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus lifted their target price on Masimo from $165.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $158.00 target price (up from $155.00) on shares of Masimo in a report on Tuesday, May 7th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $159.25.
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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