Masimo (NASDAQ:MASI) Updates Q3 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.81-0.86 for the period, compared to the consensus earnings per share estimate of $0.84. The company issued revenue guidance of $495-515 million, compared to the consensus revenue estimate of $502.87 million. Masimo also updated its FY 2024 guidance to 3.800-4.000 EPS.

Masimo Price Performance

Shares of NASDAQ:MASI traded up $0.53 during midday trading on Friday, reaching $144.54. The company’s stock had a trading volume of 265,015 shares, compared to its average volume of 671,946. The business’s fifty day simple moving average is $128.95 and its 200-day simple moving average is $125.27. The company has a market capitalization of $7.69 billion, a P/E ratio of 97.97 and a beta of 0.99. 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 fifty-two week low of $75.36 and a fifty-two week high of $153.93.

Masimo (NASDAQ:MASI) last posted its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.09. The firm had revenue of $496.30 million for the quarter, compared to the consensus estimate of $493.92 million. Masimo had a return on equity of 14.07% and a net margin of 3.94%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.62 EPS. As a group, equities research analysts expect that Masimo will post 3.88 EPS for the current fiscal year.

Analysts Set New Price Targets

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