Masimo (NASDAQ:MASI) Releases FY24 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its FY24 earnings guidance on Tuesday morning. 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 Down 1.4 %

NASDAQ:MASI traded down $2.00 during trading hours on Tuesday, hitting $136.00. The stock had a trading volume of 1,324,224 shares, compared to its average volume of 561,153. The business has a 50 day simple moving average of $136.24 and a two-hundred day simple moving average of $119.21. Masimo has a 1-year low of $75.22 and a 1-year high of $188.14. 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 company has a market cap of $7.20 billion, a PE ratio of 90.07 and a beta of 0.99.

Masimo (NASDAQ:MASI) last released its quarterly 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 net margin of 3.98% and a return on equity of 13.77%. The business had revenue of $548.90 million during the quarter, compared to analyst estimates of $545.69 million. During the same period last year, the business earned $1.32 EPS. The business’s revenue was down 11.0% on a year-over-year basis. Analysts predict that Masimo will post 3.51 EPS for the current year.

Wall Street Analysts Forecast Growth

MASI has been the subject of a number of recent analyst reports. Piper Sandler raised their price objective on Masimo from $70.00 to $117.00 and gave the company a neutral rating in a research note on Monday, February 26th. Wells Fargo & Company raised shares of 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. BTIG Research lifted their price target on Masimo from $145.00 to $166.00 and gave the stock a buy rating in a research note on Monday, March 25th. Stifel Nicolaus raised Masimo from a hold rating to a buy rating and boosted their price objective for the company from $148.00 to $170.00 in a report on Monday, April 15th. Finally, Jefferies Financial Group reaffirmed a hold rating and set a $121.00 target price (up previously from $107.00) on shares of Masimo in a report on Tuesday, January 30th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Masimo presently has an average rating of Hold and an average price target of $137.43.

Insider Buying and Selling at Masimo

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

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.