PNC Financial Services Group Inc. Has $3.08 Million Stake in Masimo Co. (MASI)

PNC Financial Services Group Inc. decreased its position in shares of Masimo Co. (NASDAQ:MASI) by 10.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,766 shares of the medical equipment provider’s stock after selling 2,896 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Masimo were worth $3,084,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. United Services Automobile Association lifted its holdings in Masimo by 0.7% in the second quarter. United Services Automobile Association now owns 71,510 shares of the medical equipment provider’s stock worth $6,983,000 after purchasing an additional 485 shares during the period. US Bancorp DE lifted its holdings in Masimo by 36.9% in the second quarter. US Bancorp DE now owns 1,980 shares of the medical equipment provider’s stock worth $193,000 after purchasing an additional 534 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Masimo by 3.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 18,628 shares of the medical equipment provider’s stock worth $1,819,000 after purchasing an additional 535 shares during the period. Security Asset Management lifted its holdings in Masimo by 4.4% in the third quarter. Security Asset Management now owns 12,834 shares of the medical equipment provider’s stock worth $1,598,000 after purchasing an additional 539 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in Masimo by 3.2% in the third quarter. SG Americas Securities LLC now owns 24,081 shares of the medical equipment provider’s stock worth $2,999,000 after purchasing an additional 756 shares during the period. 82.74% of the stock is owned by institutional investors.

Shares of NASDAQ MASI opened at $105.30 on Friday. Masimo Co. has a twelve month low of $80.69 and a twelve month high of $126.89. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 37.13, a price-to-earnings-growth ratio of 2.38 and a beta of 1.07.

Masimo (NASDAQ:MASI) last issued its quarterly earnings results on Wednesday, October 31st. The medical equipment provider reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.02. Masimo had a net margin of 17.08% and a return on equity of 20.29%. The company had revenue of $210.58 million during the quarter, compared to the consensus estimate of $207.62 million. During the same period in the prior year, the company earned $0.56 EPS. Masimo’s revenue was up 8.9% on a year-over-year basis. Equities research analysts anticipate that Masimo Co. will post 2.92 earnings per share for the current fiscal year.

Several equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Masimo from a “buy” rating to a “hold” rating in a report on Monday, December 3rd. Piper Jaffray Companies upped their price target on shares of Masimo to $120.00 and gave the company a “neutral” rating in a report on Thursday, November 1st. Needham & Company LLC started coverage on shares of Masimo in a report on Friday, September 14th. They issued a “buy” rating for the company. BidaskClub raised shares of Masimo from a “buy” rating to a “strong-buy” rating in a report on Friday, August 17th. Finally, Stifel Nicolaus upped their price target on shares of Masimo from $112.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, October 2nd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $119.00.

In other Masimo news, COO Anand Sampath sold 30,000 shares of the company’s stock in a transaction dated Wednesday, November 28th. The shares were sold at an average price of $110.00, for a total value of $3,300,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ramshorst David J. Van sold 2,675 shares of the business’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $122.87, for a total value of $328,677.25. Following the sale, the insider now owns 2,325 shares in the company, valued at approximately $285,672.75. The disclosure for this sale can be found here. Insiders sold a total of 309,180 shares of company stock valued at $37,570,849 over the last three months. 12.60% of the stock is owned by corporate insiders.

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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.

Read More: Return on Equity (ROE)

Institutional Ownership by Quarter for Masimo (NASDAQ:MASI)

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