Masimo (NASDAQ:MASI) Releases FY24 Earnings Guidance

Masimo (NASDAQ:MASI) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $3.54-3.70 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MASI shares. StockNews.com upgraded shares of Masimo from a sell rating to a hold rating in a report on Friday, March 29th. Wells Fargo & Company raised shares of Masimo from an equal weight rating to an overweight rating and increased their price target for the stock from $117.00 to $160.00 in a research note on Monday, March 25th. BTIG Research increased their price objective on shares of Masimo from $145.00 to $166.00 and gave the stock a buy rating in a research report on Monday, March 25th. Needham & Company LLC reaffirmed a hold rating on shares of Masimo in a research report on Wednesday. Finally, Stifel Nicolaus raised Masimo from a hold rating to a buy rating and increased their price target for the company from $148.00 to $170.00 in a report on Monday, April 15th. Five equities research 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 currently has an average rating of Hold and an average target price of $138.71.

Masimo Stock Performance

MASI traded down $15.98 during trading hours on Wednesday, hitting $120.02. The company’s stock had a trading volume of 2,332,545 shares, compared to its average volume of 581,284. Masimo has a fifty-two week low of $75.22 and a fifty-two week 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 50-day simple moving average of $136.19 and a 200 day simple moving average of $119.58. The firm has a market capitalization of $6.35 billion, a PE ratio of 79.48 and a beta of 0.99.

Masimo (NASDAQ:MASI) last issued its earnings results on Tuesday, May 7th. The medical equipment provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The firm 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%. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period last year, the firm posted $0.87 earnings per share. As a group, sell-side analysts expect that Masimo will post 3.51 EPS for the current year.

Insider Transactions at Masimo

In related news, Director Craig B. Reynolds sold 40,000 shares of the 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 sale, the director now directly owns 7,406 shares in the company, valued at $1,008,475.02. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 9.70% of the stock is currently owned by insiders.

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.