Masimo (NASDAQ:MASI) Updates Q2 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.73-0.79 for the period, compared to the consensus earnings per share estimate of $0.80. The company issued revenue guidance of $480-510 million, compared to the consensus revenue estimate of $502.70 million. Masimo also updated its FY24 guidance to $3.54-3.70 EPS.

Masimo Stock Performance

Shares of Masimo stock traded up $4.14 during mid-day trading on Thursday, hitting $124.16. 1,208,349 shares of the stock were exchanged, compared to its average volume of 588,065. Masimo has a 12 month low of $75.22 and a 12 month high of $176.29. The company has a 50-day simple moving average of $136.19 and a 200 day simple moving average of $119.58. The company has a market capitalization of $6.57 billion, a P/E ratio of 83.38 and a beta of 0.99. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.22 and a current ratio of 2.18.

Masimo (NASDAQ:MASI) last announced its quarterly earnings data on Tuesday, May 7th. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. The firm had revenue of $492.80 million during the quarter, compared to the consensus estimate of $487.70 million. Masimo had a return on equity of 13.77% and a net margin of 3.98%. The business’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 EPS. Sell-side analysts anticipate that Masimo will post 3.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MASI shares. Wells Fargo & Company raised shares of Masimo from an equal weight rating to an overweight rating and lifted their price target for the stock from $117.00 to $160.00 in a report on Monday, March 25th. Piper Sandler upped their price target on Masimo from $117.00 to $126.00 and gave the company a neutral rating in a research report on Wednesday. Needham & Company LLC restated a hold rating on shares of Masimo in a research note on Wednesday. BTIG Research increased their target price 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. Finally, StockNews.com upgraded shares of Masimo from a sell rating to a hold rating in a research note on Friday, March 29th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $138.71.

Insider Buying and Selling

In other news, Director Craig B. Reynolds sold 40,000 shares of Masimo stock in a transaction dated 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 owns 7,406 shares in the company, valued at approximately $1,008,475.02. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 9.70% of the stock is owned by company 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.