Genesee Valley Trust Co. lowered its stake in Masimo Corp. (NASDAQ:MASI) by 23.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 7,034 shares of the company’s stock after selling 2,197 shares during the period. Genesee Valley Trust Co.’s holdings in Masimo Corp. were worth $369,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Pitcairn Co. acquired a new position in shares of Masimo Corp. during the second quarter valued at approximately $330,000. Eqis Capital Management Inc. boosted its position in shares of Masimo Corp. by 21.5% in the second quarter. Eqis Capital Management Inc. now owns 7,012 shares of the company’s stock valued at $368,000 after buying an additional 1,241 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Masimo Corp. during the second quarter valued at approximately $440,000. Ngam Advisors L.P. acquired a new position in shares of Masimo Corp. during the first quarter valued at approximately $461,000. Finally, Panagora Asset Management Inc. boosted its position in shares of Masimo Corp. by 128.3% in the first quarter. Panagora Asset Management Inc. now owns 11,827 shares of the company’s stock valued at $495,000 after buying an additional 6,646 shares in the last quarter. 79.88% of the stock is currently owned by institutional investors.

Masimo Corp. (NASDAQ:MASI) traded up 0.79% during mid-day trading on Thursday, hitting $60.32. 307,193 shares of the company traded hands. The firm has a 50 day moving average of $58.52 and a 200 day moving average of $49.84. The firm has a market capitalization of $2.98 billion, a P/E ratio of 31.63 and a beta of 0.80. Masimo Corp. has a one year low of $33.03 and a one year high of $60.52.

Masimo Corp. (NASDAQ:MASI) last released its earnings results on Wednesday, August 3rd. The company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.16. The firm had revenue of $172.64 million for the quarter, compared to analysts’ expectations of $166.02 million. Masimo Corp. had a net margin of 15.40% and a return on equity of 29.07%. The company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 earnings per share. Equities research analysts expect that Masimo Corp. will post $2.02 earnings per share for the current fiscal year.

Several research analysts have recently commented on the stock. BTIG Research reaffirmed a “hold” rating on shares of Masimo Corp. in a report on Friday, August 5th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $55.00 target price (up from $52.00) on shares of Masimo Corp. in a report on Friday, August 5th. Raymond James Financial Inc. cut shares of Masimo Corp. from a “strong-buy” rating to an “outperform” rating in a report on Wednesday, June 1st. Finally, Wedbush reaffirmed an “outperform” rating and set a $63.00 target price (up from $60.00) on shares of Masimo Corp. in a report on Thursday, August 4th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $52.60.

In other Masimo Corp. news, insider Rick Fishel sold 22,000 shares of the business’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $53.85, for a total value of $1,184,700.00. Following the transaction, the insider now directly owns 42,022 shares in the company, valued at $2,262,884.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joe E. Kiani sold 999 shares of the business’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $60.03, for a total transaction of $59,969.97. Following the completion of the transaction, the chief executive officer now owns 120,240 shares in the company, valued at $7,218,007.20. The disclosure for this sale can be found here. 16.60% of the stock is currently owned by company insiders.

Masimo Corp. Company Profile

Masimo Corporation is a medical technology company that develops, manufactures and markets non-invasive patient monitoring products. The Company’s business is measure-through-motion and low-perfusion pulse oximetry monitoring, known as Masimo Signal Extraction Technology (SET) pulse oximetry. Its product offerings include monitoring blood constituents with an optical signature, optical organ oximetry monitoring, electrical brain function monitoring, acoustic respiration monitoring and exhaled gas monitoring.

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