Masimo (NASDAQ:MASI) Updates FY 2024 Earnings Guidance

Masimo (NASDAQ:MASI) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 3.800-4.000 for the period, compared to the consensus earnings per share estimate of 3.880. The company issued revenue guidance of $2.1 billion-$2.1 billion, compared to the consensus revenue estimate of $2.1 billion. Masimo also updated its FY24 guidance to $3.80-4.00 EPS.

Masimo Stock Up 0.8 %

Masimo stock traded up $1.12 during trading on Thursday, hitting $144.01. 655,800 shares of the company were exchanged, compared to its average volume of 673,875. The company has a current ratio of 2.09, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average is $128.51 and its 200 day moving average is $125.14. Masimo has a 52 week low of $75.36 and a 52 week high of $153.93. The company has a market capitalization of $7.66 billion, a P/E ratio of 97.38 and a beta of 0.99.

Masimo (NASDAQ:MASI) last announced its earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.77 by $0.09. Masimo had a net margin of 3.94% and a return on equity of 14.07%. The company had revenue of $496.30 million during the quarter, compared to the consensus estimate of $493.92 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. Analysts predict that Masimo will post 3.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MASI shares. Piper Sandler reaffirmed an “overweight” rating on shares of Masimo in a report on Friday, October 18th. BTIG Research upped their price objective on Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research report on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $145.33.

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.