Masimo (NASDAQ:MASI) Issues Q3 Earnings Guidance

Masimo (NASDAQ:MASI) updated its third quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.81-0.86 for the period, compared to the consensus EPS 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.

Analysts Set New Price Targets

Several research firms recently issued reports on MASI. Piper Sandler reaffirmed an “overweight” rating on shares of Masimo in a report on Friday, October 18th. BTIG Research raised their target price on Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a report on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $145.33.

Masimo Stock Performance

MASI stock traded up $0.53 during trading on Friday, reaching $144.54. 265,015 shares of the stock were exchanged, compared to its average volume of 671,946. The stock has a 50 day simple moving average of $128.95 and a 200-day simple moving average of $125.27. The company has a current ratio of 2.09, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $7.69 billion, a P/E ratio of 97.97 and a beta of 0.99. Masimo has a twelve month low of $75.36 and a twelve month high of $153.93.

Masimo (NASDAQ:MASI) last posted its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. Masimo had a net margin of 3.94% and a return on equity of 14.07%. The firm had revenue of $496.30 million for the quarter, compared to the consensus estimate of $493.92 million. During the same quarter in the previous year, the company earned $0.62 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Masimo will post 3.88 earnings per share 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.