Corebridge Financial Inc. Has $8.35 Million Holdings in Masimo Co. (NASDAQ:MASI)

Corebridge Financial Inc. cut its holdings in shares of Masimo Co. (NASDAQ:MASI) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,536 shares of the medical equipment provider’s stock after selling 1,930 shares during the period. Corebridge Financial Inc. owned about 0.09% of Masimo worth $8,354,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Smartleaf Asset Management LLC grew its holdings in shares of Masimo by 31.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 250 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 60 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Masimo by 40.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 224 shares of the medical equipment provider’s stock worth $37,000 after buying an additional 64 shares in the last quarter. Blue Trust Inc. grew its holdings in Masimo by 56.3% during the 4th quarter. Blue Trust Inc. now owns 197 shares of the medical equipment provider’s stock worth $33,000 after acquiring an additional 71 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Masimo by 0.8% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,815 shares of the medical equipment provider’s stock valued at $1,622,000 after acquiring an additional 82 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in Masimo by 0.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 10,456 shares of the medical equipment provider’s stock valued at $1,728,000 after acquiring an additional 83 shares in the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.

Masimo Stock Performance

Shares of Masimo stock opened at $168.47 on Friday. The firm has a fifty day moving average of $174.96 and a two-hundred day moving average of $160.70. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01. The stock has a market capitalization of $9.09 billion, a price-to-earnings ratio of 116.19 and a beta of 1.04. Masimo Co. has a 52 week low of $101.61 and a 52 week high of $194.88.

Masimo (NASDAQ:MASI) last released its quarterly earnings data on Tuesday, February 25th. The medical equipment provider reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.38. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The business had revenue of $600.70 million during the quarter, compared to the consensus estimate of $593.35 million. As a group, equities research analysts predict that Masimo Co. will post 4.1 EPS for the current year.

Insider Activity at Masimo

In other news, COO Bilal Muhsin sold 30,000 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $167.49, for a total value of $5,024,700.00. Following the completion of the transaction, the chief operating officer now owns 24,172 shares of the company’s stock, valued at $4,048,568.28. The trade was a 55.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Craig B. Reynolds sold 2,053 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $166.13, for a total value of $341,064.89. Following the sale, the director now directly owns 16,581 shares in the company, valued at $2,754,601.53. The trade was a 11.02 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on MASI shares. Raymond James increased their price target on shares of Masimo from $170.00 to $194.00 and gave the company an “outperform” rating in a research note on Friday, December 27th. Wells Fargo & Company upped their price objective on Masimo from $193.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Piper Sandler lifted their target price on Masimo from $210.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Masimo currently has an average rating of “Moderate Buy” and a consensus target price of $194.80.

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.