Masimo (NASDAQ:MASI) Releases FY24 Earnings Guidance

Masimo (NASDAQ:MASI) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $3.54-3.70 for the period, compared to the consensus earnings per share estimate of $3.52. The company issued revenue guidance of $2.055-2.165 billion, compared to the consensus revenue estimate of $2.10 billion. Masimo also updated its Q2 guidance to $0.73-0.79 EPS.

Masimo Stock Performance

MASI traded up $4.14 on Thursday, hitting $124.16. The company’s stock had a trading volume of 1,208,349 shares, compared to its average volume of 588,065. The company’s 50 day simple moving average is $136.10 and its 200-day simple moving average is $119.62. The company has a quick ratio of 1.22, a current ratio of 2.18 and a debt-to-equity ratio of 0.64. Masimo has a 12 month low of $75.22 and a 12 month high of $176.29. The firm has a market cap of $6.57 billion, a P/E ratio of 82.23 and a beta of 0.99.

Masimo (NASDAQ:MASI) last issued its earnings results on Tuesday, May 7th. The medical equipment provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.71 by $0.06. Masimo had a return on equity of 13.77% and a net margin of 3.98%. The business had revenue of $492.80 million during the quarter, compared to the consensus estimate of $487.70 million. During the same quarter last year, the company earned $0.87 EPS. The firm’s revenue was down 12.8% compared to the same quarter last year. Analysts forecast that Masimo will post 3.51 EPS for the current year.

Wall Street Analyst Weigh In

MASI has been the subject of a number of research reports. Needham & Company LLC reiterated a hold rating on shares of Masimo in a report on Wednesday. Stifel Nicolaus raised shares of Masimo from a hold rating to a buy rating and lifted their price target for the stock from $148.00 to $170.00 in a research note on Monday, April 15th. BTIG Research upped their price objective on shares of Masimo from $145.00 to $166.00 and gave the company a buy rating in a research note on Monday, March 25th. Jefferies Financial Group reissued a hold rating and issued a $121.00 price target (up from $107.00) on shares of Masimo in a research note on Tuesday, January 30th. Finally, Wells Fargo & Company raised Masimo from an equal weight rating to an overweight rating and raised their price objective for the company from $117.00 to $160.00 in a research note on Monday, March 25th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Masimo currently has a consensus rating of Hold and an average price target of $138.71.

Insider Buying and Selling at Masimo

In other Masimo news, Director Craig B. Reynolds sold 40,000 shares of the firm’s 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 transaction, the director now directly owns 7,406 shares of the company’s stock, valued at $1,008,475.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.70% of the company’s stock.

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.