Masimo (NASDAQ:MASI) Issues FY24 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $3.80-4.00 for the period, compared to the consensus EPS estimate of $3.67. The company issued revenue guidance of $2.085-2.135 billion, compared to the consensus revenue estimate of $2.12 billion. Masimo also updated its Q3 guidance to $0.81-0.86 EPS.

Masimo Stock Up 5.3 %

Shares of NASDAQ:MASI traded up $5.53 during trading on Tuesday, reaching $110.32. 1,369,647 shares of the company traded hands, compared to its average volume of 669,188. The firm has a market cap of $5.87 billion, a P/E ratio of 75.05 and a beta of 0.97. The firm has a fifty day simple moving average of $119.65 and a 200 day simple moving average of $128.07. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.62. Masimo has a 1-year low of $75.22 and a 1-year high of $153.93.

Masimo (NASDAQ:MASI) last released its quarterly earnings results on Tuesday, May 7th. The medical equipment provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. The business had revenue of $492.80 million for the quarter, compared to the consensus estimate of $487.70 million. Masimo had a net margin of 4.01% and a return on equity of 13.26%. Masimo’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 EPS. Analysts anticipate that Masimo will post 3.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on MASI shares. Piper Sandler upgraded shares of Masimo from a neutral rating to an overweight rating and lifted their target price for the stock from $126.00 to $160.00 in a report on Monday, June 3rd. Needham & Company LLC reiterated a hold rating on shares of Masimo in a report on Tuesday, July 9th. Finally, Stifel Nicolaus upgraded shares of Masimo from a hold rating to a buy rating and lifted their target price for the stock from $148.00 to $170.00 in a report on Monday, April 15th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $143.57.

Masimo Company Profile

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.