Masimo (NASDAQ:MASI) Updates 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 $3.80-4.00 for the period, compared to the consensus earnings per share estimate of $3.67. The company issued revenue guidance of $2.085-2.135 billion, compared to the consensus revenue estimate of $2.12 billion. Masimo also updated its FY 2024 guidance to 3.800-4.000 EPS.

Analysts Set New Price Targets

MASI has been the subject of a number of research analyst reports. Stifel Nicolaus upgraded Masimo from a hold rating to a buy rating and boosted their price target for the company from $148.00 to $170.00 in a report on Monday, April 15th. Piper Sandler boosted their target price on shares of Masimo from $160.00 to $165.00 and gave the company an overweight rating in a research note on Wednesday. Finally, Needham & Company LLC restated a hold rating on shares of Masimo in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $144.29.

Masimo Stock Performance

NASDAQ MASI traded up $12.45 during trading hours on Wednesday, hitting $122.77. The company had a trading volume of 1,591,094 shares, compared to its average volume of 675,374. Masimo has a fifty-two week low of $75.22 and a fifty-two week high of $153.93. The firm has a market cap of $6.53 billion, a P/E ratio of 83.52 and a beta of 0.97. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $118.78 and a 200-day simple moving average of $127.81.

Masimo (NASDAQ:MASI) last released its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. The business had revenue of $496.30 million for the quarter, compared to analysts’ expectations of $493.92 million. Masimo had a net margin of 4.01% and a return on equity of 13.26%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 EPS. Equities analysts predict that Masimo will post 3.63 EPS for the current year.

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.