Masimo (NASDAQ:MASI) Updates FY24 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $3.95-$4.10 for the period, compared to the consensus estimate of $3.88. The company issued revenue guidance of $2.075-$2.105 billion, compared to the consensus revenue estimate of $2.10 billion. Masimo also updated its Q4 2024 guidance to 1.350-1.500 EPS.

Masimo Stock Down 0.7 %

MASI stock traded down $1.11 during mid-day trading on Friday, reaching $160.24. 52,227 shares of the company traded hands, compared to its average volume of 680,840. Masimo has a fifty-two week low of $81.82 and a fifty-two week high of $173.90. The company has a quick ratio of 1.15, a current ratio of 2.09 and a debt-to-equity ratio of 0.55. The stock has a market cap of $8.52 billion, a price-to-earnings ratio of 109.76 and a beta of 0.97. The firm’s 50 day moving average price is $132.63 and its 200 day moving average price is $125.88.

Masimo (NASDAQ:MASI) last posted its earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.14. Masimo had a return on equity of 14.07% and a net margin of 3.94%. The business had revenue of $504.60 million during the quarter, compared to analyst estimates of $502.87 million. During the same quarter in the previous year, the firm earned $0.63 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts predict that Masimo will post 3.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MASI. Wells Fargo & Company lifted their price objective on Masimo from $160.00 to $171.00 and gave the stock an “overweight” rating in a report on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a research report on Wednesday. BTIG Research upped their price objective on shares of Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Raymond James raised Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price target for the company in a research report on Wednesday. Finally, Piper Sandler increased their target price on Masimo from $165.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $152.57.

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.