Masimo (NASDAQ:MASI) Updates Q2 Earnings Guidance

Masimo (NASDAQ:MASI) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.73-0.79 for the period, compared to the consensus estimate of $0.80. The company issued revenue guidance of $480-510 million, compared to the consensus revenue estimate of $502.70 million. Masimo also updated its FY24 guidance to $3.54-3.70 EPS.

Masimo Stock Performance

Shares of MASI traded down $15.98 during trading hours on Wednesday, reaching $120.02. 2,332,545 shares of the company traded hands, compared to its average volume of 581,284. The stock’s fifty day moving average is $136.19 and its 200 day moving average is $119.58. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.22 and a current ratio of 2.18. The stock has a market cap of $6.35 billion, a P/E ratio of 79.48 and a beta of 0.99. Masimo has a 1-year low of $75.22 and a 1-year high of $188.14.

Masimo (NASDAQ:MASI) last issued its earnings results on Tuesday, May 7th. The medical equipment provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.71 by $0.06. Masimo had a net margin of 3.98% and a return on equity of 13.77%. The company had revenue of $492.80 million for the quarter, compared to the consensus estimate of $487.70 million. During the same quarter in the previous year, the company earned $0.87 EPS. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. Equities research analysts anticipate that Masimo will post 3.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MASI has been the topic of several analyst reports. Needham & Company LLC reiterated a hold rating on shares of Masimo in a report on Wednesday. Jefferies Financial Group reaffirmed a hold rating and set a $121.00 target price (up previously from $107.00) on shares of Masimo in a report on Tuesday, January 30th. StockNews.com raised Masimo from a sell rating to a hold rating in a report on Friday, March 29th. Wells Fargo & Company raised Masimo from an equal weight rating to an overweight rating and increased their price target for the stock from $117.00 to $160.00 in a research report on Monday, March 25th. Finally, Stifel Nicolaus raised shares of Masimo from a hold rating to a buy rating and raised their target price for the company from $148.00 to $170.00 in a report on Monday, April 15th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $138.71.

Insiders Place Their Bets

In other Masimo news, Director Craig B. Reynolds sold 40,000 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $136.17, for a total transaction of $5,446,800.00. Following the sale, the director now owns 7,406 shares of the company’s stock, valued at approximately $1,008,475.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 9.70% of the company’s stock.

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.