Masimo (NASDAQ:MASI) Updates FY24 Earnings Guidance

Masimo (NASDAQ:MASI) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $3.80-4.00 for the period, compared to the consensus earnings per share estimate of $3.88. The company issued revenue guidance of $2.085-2.135 billion, compared to the consensus revenue estimate of $2.10 billion. Masimo also updated its FY 2024 guidance to 3.800-4.000 EPS.

Wall Street Analyst Weigh In

MASI has been the topic of a number of recent research reports. Piper Sandler reissued an “overweight” rating on shares of Masimo in a research report on Friday, October 18th. BTIG Research boosted their price target on Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Masimo in a report on Friday, September 20th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.33.

Masimo Stock Performance

Shares of NASDAQ:MASI traded up $0.34 on Tuesday, hitting $141.05. The company’s stock had a trading volume of 273,214 shares, compared to its average volume of 674,230. The company has a market capitalization of $7.50 billion, a price-to-earnings ratio of 95.72 and a beta of 0.99. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 2.09. Masimo has a 12 month low of $75.36 and a 12 month high of $153.93. The stock’s 50-day moving average is $127.74 and its two-hundred day moving average is $124.99.

Masimo (NASDAQ:MASI) last issued its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 14.07% and a net margin of 3.94%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the firm earned $0.62 EPS. On average, equities research analysts forecast that Masimo will post 3.88 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.