Masimo (NASDAQ:MASI) Releases Q2 2024 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.730-0.790 for the period, compared to the consensus earnings per share estimate of 0.770. The company issued revenue guidance of $480.0 million-$510.0 million, compared to the consensus revenue estimate of $503.8 million.

Masimo Price Performance

Shares of NASDAQ:MASI traded up $4.14 during trading on Thursday, reaching $124.16. 1,208,349 shares of the company traded hands, compared to its average volume of 588,065. The firm has a market capitalization of $6.57 billion, a PE ratio of 82.23 and a beta of 0.99. Masimo has a 52 week low of $75.22 and a 52 week high of $176.29. The company has a quick ratio of 1.22, a current ratio of 2.18 and a debt-to-equity ratio of 0.64. The company’s 50 day moving average is $136.10 and its two-hundred day moving average is $119.62.

Masimo (NASDAQ:MASI) last posted its quarterly earnings data on Tuesday, May 7th. The medical equipment provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.06. The business had revenue of $492.80 million during the quarter, compared to analysts’ expectations of $487.70 million. Masimo had a net margin of 3.98% and a return on equity of 13.77%. Masimo’s revenue was down 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.87 earnings per share. As a group, sell-side analysts predict that Masimo will post 3.51 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MASI shares. StockNews.com raised Masimo from a sell rating to a hold rating in a report on Friday, March 29th. Jefferies Financial Group reiterated a hold rating and issued a $121.00 target price (up previously from $107.00) on shares of Masimo in a research report on Tuesday, January 30th. Needham & Company LLC restated a hold rating on shares of Masimo in a research note on Wednesday. Wells Fargo & Company raised shares of Masimo from an equal weight rating to an overweight rating and lifted their price target for the company from $117.00 to $160.00 in a report on Monday, March 25th. Finally, Stifel Nicolaus raised shares of Masimo from a hold rating to a buy rating and increased their price objective for the company from $148.00 to $170.00 in a research note on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $138.71.

Insider Buying and Selling at Masimo

In other 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 completion of the transaction, the director now directly owns 7,406 shares of the company’s stock, valued at approximately $1,008,475.02. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 9.70% of the company’s stock.

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.