Masimo (NASDAQ:MASI) Releases FY 2024 Earnings Guidance

Masimo (NASDAQ:MASI) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 3.800-4.000 for the period, compared to the consensus EPS estimate of 3.880. The company issued revenue guidance of $2.1 billion-$2.1 billion, compared to the consensus revenue estimate of $2.1 billion. Masimo also updated its FY24 guidance to $3.80-4.00 EPS.

Masimo Price Performance

Masimo stock traded up $1.12 during mid-day trading on Thursday, reaching $144.01. The company had a trading volume of 655,800 shares, compared to its average volume of 673,875. The business has a fifty day simple moving average of $128.51 and a 200 day simple moving average of $125.14. The company has a market cap of $7.66 billion, a P/E ratio of 97.38 and a beta of 0.99. Masimo has a fifty-two week low of $75.36 and a fifty-two week high of $153.93. The company has a current ratio of 2.09, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55.

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, beating the consensus estimate of $0.77 by $0.09. The firm had revenue of $496.30 million during 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%. The company’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 EPS. On average, equities research analysts predict that Masimo will post 3.88 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research note on Friday, September 20th. BTIG Research increased their price target on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, October 14th. 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.33.

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.