Masimo (NASDAQ:MASI) Updates Q3 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.81-0.86 for the period, compared to the consensus earnings per share estimate of $0.86. The company issued revenue guidance of $495-515 million, compared to the consensus revenue estimate of $508.45 million. Masimo also updated its FY 2024 guidance to 3.800-4.000 EPS.

Masimo Stock Up 0.6 %

NASDAQ MASI traded up $0.71 during trading on Friday, reaching $128.65. 65,033 shares of the company’s stock were exchanged, compared to its average volume of 673,859. The stock has a market cap of $6.84 billion, a P/E ratio of 87.03 and a beta of 0.97. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.31 and a current ratio of 2.31. The company has a 50 day moving average price of $118.78 and a two-hundred day moving average price of $127.81. Masimo has a 1 year low of $75.22 and a 1 year high of $153.93.

Masimo (NASDAQ:MASI) last announced its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. The company had revenue of $496.30 million during the quarter, compared to the consensus estimate of $493.92 million. Masimo had a return on equity of 13.26% and a net margin of 4.01%. Masimo’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.62 EPS. On average, equities research analysts anticipate that Masimo will post 3.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MASI. Needham & Company LLC reiterated a hold rating on shares of Masimo in a research report on Wednesday. Stifel Nicolaus upgraded 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 research report on Monday, April 15th. Finally, Piper Sandler lifted their target price on Masimo from $160.00 to $165.00 and gave the stock an overweight rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $144.29.

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.