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

Corebridge Financial Inc. reduced its stake in Masimo Co. (NASDAQ:MASI) by 3.7% during the 4th quarter, HoldingsChannel reports. The fund owned 50,536 shares of the medical equipment provider’s stock after selling 1,930 shares during the quarter. Corebridge Financial Inc.’s holdings in Masimo were worth $8,354,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp acquired a new stake in shares of Masimo in the 4th quarter valued at about $27,000. UMB Bank n.a. grew its holdings in shares of Masimo by 180.9% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 123 shares in the last quarter. Trust Co. of Vermont acquired a new stake in Masimo in the 4th quarter valued at approximately $33,000. Blue Trust Inc. raised its position in Masimo by 56.3% in the 4th quarter. Blue Trust Inc. now owns 197 shares of the medical equipment provider’s stock valued at $33,000 after buying an additional 71 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Masimo by 40.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 224 shares of the medical equipment provider’s stock valued at $37,000 after acquiring an additional 64 shares in the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Masimo

In other Masimo news, COO Bilal Muhsin sold 30,000 shares of the company’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 transaction, the chief operating officer now directly owns 24,172 shares in the company, valued at $4,048,568.28. The trade was a 55.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 dated Friday, March 14th. The stock was sold at an average price of $166.13, for a total transaction of $341,064.89. Following the sale, the director now owns 16,581 shares of the company’s stock, valued at approximately $2,754,601.53. This represents 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.

Masimo Price Performance

Shares of MASI opened at $168.47 on Friday. The company has a market cap of $9.09 billion, a price-to-earnings ratio of 116.19 and a beta of 1.04. The company has a current ratio of 2.01, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The company’s fifty day simple moving average is $174.96 and its 200 day simple moving average is $160.70. Masimo Co. has a 1-year low of $101.61 and a 1-year high of $194.88.

Masimo (NASDAQ:MASI) last released its quarterly earnings data on Tuesday, February 25th. The medical equipment provider reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.38. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The company had revenue of $600.70 million for the quarter, compared to analyst estimates of $593.35 million. On average, research analysts forecast that Masimo Co. will post 4.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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