Masimo (NASDAQ:MASI) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Masimo (NASDAQ:MASI) posted its quarterly earnings results on Tuesday. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.06, Briefing.com reports. Masimo had a return on equity of 13.77% and a net margin of 3.98%. The business had revenue of $492.80 million for the quarter, compared to analyst estimates of $487.70 million. During the same period last year, the company earned $0.87 EPS. The firm’s revenue was down 12.8% on a year-over-year basis. Masimo updated its Q2 guidance to $0.73-0.79 EPS and its FY24 guidance to $3.54-3.70 EPS.

Masimo Stock Down 2.4 %

Shares of MASI traded down $2.99 during midday trading on Friday, hitting $121.17. The stock had a trading volume of 109,267 shares, compared to its average volume of 582,798. The company has a 50 day simple moving average of $136.10 and a two-hundred day simple moving average of $119.62. Masimo has a twelve month low of $75.22 and a twelve month high of $174.69. The firm has a market cap of $6.41 billion, a price-to-earnings ratio of 82.23 and a beta of 0.99. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.18 and a quick ratio of 1.22.

Insider Buying and Selling at Masimo

In related news, Director Craig B. Reynolds sold 40,000 shares of Masimo stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $136.17, for a total value of $5,446,800.00. Following the sale, the director now owns 7,406 shares of the company’s stock, valued at $1,008,475.02. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 9.70% of the company’s stock.

Analysts Set New Price Targets

MASI has been the topic of several recent research reports. Needham & Company LLC restated a “hold” rating on shares of Masimo in a research report on Wednesday. BTIG Research raised their price target on Masimo from $145.00 to $166.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Jefferies Financial Group reiterated a “hold” rating and set a $121.00 target price (up from $107.00) on shares of Masimo in a report on Tuesday, January 30th. Piper Sandler lifted their target price on Masimo from $117.00 to $126.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, StockNews.com upgraded Masimo from a “sell” rating to a “hold” rating in a report on Friday, March 29th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Masimo presently has an average rating of “Hold” and an average price target of $138.71.

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.