Masimo (NASDAQ:MASI) Releases FY 2024 Earnings Guidance

Masimo (NASDAQ:MASI) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 3.440-3.600 for the period, compared to the consensus estimate of 3.520. The company issued revenue guidance of $2.0 billion-$2.2 billion, compared to the consensus revenue estimate of $2.1 billion.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MASI. Needham & Company LLC cut Masimo from a buy rating to a hold rating in a research report on Wednesday, January 3rd. Piper Sandler boosted their target price on Masimo from $70.00 to $117.00 and gave the stock a neutral rating in a research report on Monday, February 26th. Jefferies Financial Group restated a hold rating and set a $121.00 target price (up from $107.00) on shares of Masimo in a research report on Tuesday, January 30th. Wells Fargo & Company upgraded Masimo from an equal weight rating to an overweight rating and boosted their target price for the stock from $117.00 to $160.00 in a research report on Monday, March 25th. Finally, BTIG Research boosted their target price on Masimo from $145.00 to $166.00 and gave the stock a buy rating in a research report on Monday, March 25th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $137.43.

Masimo Trading Down 0.5 %

NASDAQ MASI opened at $135.92 on Friday. Masimo has a 1-year low of $75.22 and a 1-year high of $198.00. The company has a current ratio of 2.18, a quick ratio of 1.22 and a debt-to-equity ratio of 0.64. The stock has a 50-day moving average of $135.66 and a 200-day moving average of $114.20. The firm has a market cap of $7.19 billion, a PE ratio of 90.01 and a beta of 0.97.

Masimo (NASDAQ:MASI) last released its earnings results on Tuesday, February 27th. The medical equipment provider reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.43. Masimo had a return on equity of 13.77% and a net margin of 3.98%. The company had revenue of $548.90 million during the quarter, compared to analyst estimates of $545.69 million. During the same quarter in the previous year, the company posted $1.32 EPS. Masimo’s revenue for the quarter was down 11.0% on a year-over-year basis. As a group, sell-side analysts forecast that Masimo will post 3.51 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. bought a new stake in Masimo during the fourth quarter valued at about $80,154,000. Goldman Sachs Group Inc. grew its position in shares of Masimo by 92.1% during the second quarter. Goldman Sachs Group Inc. now owns 856,664 shares of the medical equipment provider’s stock valued at $111,940,000 after purchasing an additional 410,793 shares in the last quarter. Point72 Asset Management L.P. grew its position in shares of Masimo by 176.7% during the fourth quarter. Point72 Asset Management L.P. now owns 516,356 shares of the medical equipment provider’s stock valued at $60,522,000 after purchasing an additional 329,712 shares in the last quarter. Norges Bank purchased a new position in shares of Masimo during the fourth quarter valued at about $42,917,000. Finally, Worldquant Millennium Advisors LLC purchased a new position in Masimo in the first quarter worth about $34,358,000. Institutional investors own 85.96% 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.