Masimo (NASDAQ:MASI) Updates Q3 2024 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its third quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.810-0.860 for the period, compared to the consensus estimate of 0.840. The company issued revenue guidance of $495.0 million-$515.0 million, compared to the consensus revenue estimate of $509.8 million. Masimo also updated its FY 2024 guidance to 3.800-4.000 EPS.

Masimo Price Performance

Shares of MASI stock traded up $5.17 during mid-day trading on Thursday, hitting $127.94. The company had a trading volume of 1,053,751 shares, compared to its average volume of 677,865. The company has a market capitalization of $6.80 billion, a P/E ratio of 87.03 and a beta of 0.97. The stock’s 50 day moving average price is $118.78 and its 200-day moving average price is $127.81. Masimo has a 52-week low of $75.22 and a 52-week high of $153.93. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.31 and a quick ratio of 1.31.

Masimo (NASDAQ:MASI) last announced its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.09. The company had revenue of $496.30 million during the quarter, compared to analyst estimates of $493.92 million. Masimo had a return on equity of 13.26% and a net margin of 4.01%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.62 earnings per share. Equities research analysts forecast that Masimo will post 3.63 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Piper Sandler upped their price target on shares of Masimo from $160.00 to $165.00 and gave the company an overweight rating in a report on Wednesday. Needham & Company LLC restated a hold rating on shares of Masimo in a research report on Wednesday. Finally, Stifel Nicolaus upgraded Masimo from a hold rating to a buy rating and increased their price target for the stock from $148.00 to $170.00 in a report on Monday, April 15th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Masimo presently has a consensus rating of Moderate Buy and an average price target of $144.29.

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.