Masimo (NASDAQ:MASI) Issues FY24 Earnings Guidance

Masimo (NASDAQ:MASI) updated its FY24 earnings guidance on Tuesday. 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 FY 2024 guidance to 3.800-4.000 EPS.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MASI shares. Needham & Company LLC reiterated a hold rating on shares of Masimo in a research report on Wednesday. Piper Sandler increased their target price on shares of Masimo from $160.00 to $165.00 and gave the stock an overweight rating in a research report on Wednesday. Finally, Stifel Nicolaus upgraded shares of Masimo from a hold rating to a buy rating and increased their target price for the stock from $148.00 to $170.00 in a research report on Monday, April 15th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $144.29.

Masimo Price Performance

NASDAQ MASI traded up $0.71 on Friday, reaching $128.65. 65,033 shares of the company’s stock traded hands, compared to its average volume of 673,859. Masimo has a 12 month low of $75.22 and a 12 month high of $153.93. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.31 and a quick ratio of 1.31. The stock has a 50-day simple moving average of $118.78 and a 200 day simple moving average of $127.81. The stock has a market cap of $6.84 billion, a PE ratio of 87.03 and a beta of 0.97.

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

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.