Bank of Nova Scotia Reduces Stake in Masimo Corporation $MASI

Bank of Nova Scotia cut its holdings in shares of Masimo Corporation (NASDAQ:MASI) by 43.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 53,108 shares of the medical equipment provider’s stock after selling 40,095 shares during the quarter. Bank of Nova Scotia’s holdings in Masimo were worth $8,934,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Nordea Investment Management AB raised its holdings in shares of Masimo by 21.6% during the second quarter. Nordea Investment Management AB now owns 31,868 shares of the medical equipment provider’s stock worth $5,330,000 after purchasing an additional 5,659 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in Masimo by 75.9% in the second quarter. Westfield Capital Management Co. LP now owns 1,181,203 shares of the medical equipment provider’s stock valued at $198,702,000 after purchasing an additional 509,724 shares during the last quarter. Strs Ohio acquired a new stake in Masimo during the 1st quarter worth about $6,686,000. Swedbank AB purchased a new position in shares of Masimo during the 1st quarter valued at about $12,645,000. Finally, Geode Capital Management LLC raised its stake in shares of Masimo by 6.2% during the 2nd quarter. Geode Capital Management LLC now owns 896,418 shares of the medical equipment provider’s stock valued at $150,817,000 after buying an additional 52,100 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Bank of America began coverage on Masimo in a research note on Monday, November 17th. They issued a “neutral” rating and a $162.00 target price on the stock. Wells Fargo & Company restated an “overweight” rating and issued a $190.00 price objective on shares of Masimo in a research report on Friday, December 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Masimo in a report on Wednesday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a research note on Monday, December 1st. Finally, Zacks Research downgraded shares of Masimo from a “strong-buy” rating to a “hold” rating in a report on Friday, October 24th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $189.40.

Masimo Trading Up 0.8%

Shares of MASI stock opened at $139.77 on Thursday. Masimo Corporation has a 1-year low of $133.70 and a 1-year high of $194.88. The company has a market cap of $7.51 billion, a price-to-earnings ratio of -13.26, a PEG ratio of 1.50 and a beta of 1.26. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.84 and a quick ratio of 1.92. The stock has a 50 day simple moving average of $145.58 and a 200-day simple moving average of $151.64.

Masimo (NASDAQ:MASI) last issued its quarterly earnings results on Thursday, June 20th. The medical equipment provider reported $1.42 EPS for the quarter. Masimo had a negative net margin of 33.20% and a positive return on equity of 33.04%. The company had revenue of $617.00 million during the quarter. On average, equities research analysts expect that Masimo Corporation will post 4.1 EPS for the current fiscal year.

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.