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 (EPS) guidance of $3.95-$4.10 for the period, compared to the consensus estimate of $3.88. The company issued revenue guidance of $2.075-$2.105 billion, compared to the consensus revenue estimate of $2.10 billion.

Masimo Stock Up 2.8 %

NASDAQ MASI traded up $4.17 during trading hours on Tuesday, reaching $151.56. 1,308,702 shares of the company’s stock traded hands, compared to its average volume of 675,770. The firm has a market cap of $8.06 billion, a PE ratio of 100.27 and a beta of 0.97. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.09 and a quick ratio of 1.15. Masimo has a 52-week low of $75.36 and a 52-week high of $153.93. The firm has a 50-day simple moving average of $130.02 and a 200 day simple moving average of $125.22.

Masimo (NASDAQ:MASI) last announced its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. The company had revenue of $496.30 million for the quarter, compared to analysts’ expectations of $493.92 million. Masimo had a net margin of 3.94% and a return on equity of 14.07%. During the same quarter in the previous year, the business posted $0.62 EPS. Masimo’s revenue was up 9.0% compared to the same quarter last year. Sell-side analysts anticipate that Masimo will post 3.88 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on MASI shares. BTIG Research raised their target price on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a research note on Friday, September 20th. Finally, Piper Sandler reissued an “overweight” rating on shares of Masimo in a research report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Masimo presently has an average rating of “Moderate Buy” and an average price target of $145.33.

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.