Short Interest in Masimo Corporation (MASI) Drops By 24.7%

Masimo Corporation (NASDAQ:MASI) was the recipient of a large decrease in short interest in May. As of May 15th, there was short interest totalling 2,329,761 shares, a decrease of 24.7% from the April 28th total of 3,095,463 shares. Currently, 4.9% of the company’s shares are sold short. Based on an average daily trading volume, of 1,192,215 shares, the short-interest ratio is presently 2.0 days.

In other news, CEO Joe E. Kiani sold 145,841 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $102.37, for a total transaction of $14,929,743.17. Following the transaction, the chief executive officer now directly owns 165,082 shares of the company’s stock, valued at $16,899,444.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Yongsam Lee sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 19th. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the transaction, the executive vice president now directly owns 79,000 shares in the company, valued at $7,505,000. The disclosure for this sale can be found here. Insiders have sold a total of 562,201 shares of company stock worth $56,005,386 over the last 90 days. Company insiders own 16.60% of the company’s stock.

Large investors have recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Masimo Corporation during the first quarter valued at $21,487,000. Caxton Associates LP purchased a new position in Masimo Corporation during the first quarter valued at about $466,000. Metropolitan Life Insurance Co. NY boosted its position in Masimo Corporation by 141.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 69,170 shares of the medical equipment provider’s stock valued at $6,451,000 after buying an additional 40,536 shares in the last quarter. Paloma Partners Management Co boosted its position in Masimo Corporation by 134.3% in the first quarter. Paloma Partners Management Co now owns 24,543 shares of the medical equipment provider’s stock valued at $2,288,000 after buying an additional 14,068 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Masimo Corporation by 0.3% in the first quarter. AQR Capital Management LLC now owns 137,695 shares of the medical equipment provider’s stock valued at $12,841,000 after buying an additional 462 shares in the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

A number of equities research analysts recently commented on MASI shares. Wedbush reissued an “outperform” rating and issued a $95.00 price target on shares of Masimo Corporation in a research report on Monday, February 27th. Piper Jaffray Companies lowered Masimo Corporation from an “overweight” rating to a “neutral” rating in a research report on Thursday, March 16th. Finally, Zacks Investment Research lowered Masimo Corporation from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 11th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $78.00.

Masimo Corporation (NASDAQ MASI) traded down 0.21% on Tuesday, hitting $92.88. The stock had a trading volume of 517,511 shares. The firm has a 50-day moving average of $89.28 and a 200 day moving average of $83.55. The company has a market capitalization of $4.75 billion, a price-to-earnings ratio of 15.77 and a beta of 0.89. Masimo Corporation has a 52 week low of $48.07 and a 52 week high of $104.71.

Masimo Corporation (NASDAQ:MASI) last announced its earnings results on Wednesday, May 3rd. The medical equipment provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.22. Masimo Corporation had a net margin of 44.86% and a return on equity of 24.19%. The business had revenue of $186.30 million during the quarter, compared to the consensus estimate of $184.14 million. During the same quarter in the prior year, the firm earned $0.53 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, analysts predict that Masimo Corporation will post $2.66 earnings per share for the current year.

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About Masimo Corporation

Masimo Corporation is a medical technology company that develops, manufactures and markets a range of non-invasive patient monitoring technologies. The Company’s business is Measure-through Motion and Low Perfusion pulse oximetry monitoring, known as Masimo Signal Extraction Technology (SET) pulse oximetry.

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