Masimo (NASDAQ:MASI) Releases FY24 Earnings Guidance

Masimo (NASDAQ:MASI) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $3.80-4.00 for the period, compared to the consensus EPS estimate of $3.67. The company issued revenue guidance of $2.085-2.135 billion, compared to the consensus revenue estimate of $2.12 billion. Masimo also updated its Q3 guidance to $0.81-0.86 EPS.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MASI shares. Stifel Nicolaus upgraded Masimo from a hold rating to a buy rating and increased their price objective for the stock from $148.00 to $170.00 in a report on Monday, April 15th. Piper Sandler upgraded Masimo from a neutral rating to an overweight rating and lifted their price target for the company from $126.00 to $160.00 in a research note on Monday, June 3rd. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Masimo in a report on Tuesday, July 9th. Four 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.com, the company currently has a consensus rating of Moderate Buy and an average price target of $143.57.

Masimo Stock Up 5.3 %

MASI traded up $5.53 during midday trading on Tuesday, reaching $110.32. 1,369,658 shares of the company were exchanged, compared to its average volume of 669,271. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.31 and a current ratio of 2.31. The company’s fifty day moving average price is $119.65 and its 200 day moving average price is $128.07. The company has a market cap of $5.87 billion, a price-to-earnings ratio of 75.05 and a beta of 0.97. Masimo has a one year low of $75.22 and a one year high of $153.93.

Masimo (NASDAQ:MASI) last issued its quarterly earnings data on Tuesday, May 7th. The medical equipment provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The firm had revenue of $492.80 million during the quarter, compared to analyst estimates of $487.70 million. Masimo had a return on equity of 13.26% and a net margin of 4.01%. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 EPS. As a group, analysts expect that Masimo will post 3.63 EPS for the current year.

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.