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 Stock Performance

Shares of Masimo stock traded up $1.84 on Wednesday, reaching $142.89. 617,861 shares of the stock were exchanged, compared to its average volume of 673,961. The firm has a market capitalization of $7.60 billion, a PE ratio of 95.95 and a beta of 0.99. Masimo has a 1-year low of $75.36 and a 1-year high of $153.93. The business has a fifty day moving average price of $128.12 and a two-hundred day moving average price of $125.01. 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 issued its earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. Masimo had a return on equity of 14.07% and a net margin of 3.94%. The business had revenue of $496.30 million during the quarter, compared to the consensus estimate of $493.92 million. During the same period in the prior year, the business posted $0.62 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, research analysts anticipate that Masimo will post 3.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MASI shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research note on Friday, September 20th. Piper Sandler restated an “overweight” rating on shares of Masimo in a research report on Friday, October 18th. Finally, BTIG Research upped their price target on shares of Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Masimo has a consensus 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.