Masimo (NASDAQ:MASI) Issues Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Masimo (NASDAQ:MASI) released its quarterly earnings data on Tuesday. The medical equipment provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.14, Briefing.com reports. The business had revenue of $504.60 million for the quarter, compared to analysts’ expectations of $502.87 million. Masimo had a return on equity of 14.07% and a net margin of 3.94%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 EPS. Masimo updated its FY24 guidance to $3.95-$4.10 EPS and its Q4 2024 guidance to 1.350-1.500 EPS.

Masimo Stock Performance

Masimo stock traded up $3.00 during trading on Friday, reaching $164.35. The company had a trading volume of 127,484 shares, compared to its average volume of 681,187. Masimo has a 52 week low of $81.82 and a 52 week high of $173.90. The firm’s 50-day simple moving average is $132.63 and its 200 day simple moving average is $125.88. The firm has a market capitalization of $8.74 billion, a price-to-earnings ratio of 112.44 and a beta of 0.97. The company has a current ratio of 2.09, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MASI shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research report on Wednesday. Wells Fargo & Company increased their price target on Masimo from $160.00 to $171.00 and gave the company an “overweight” rating in a report on Wednesday. BTIG Research increased their price target on Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a report on Monday, October 14th. Piper Sandler increased their price target on Masimo from $165.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Raymond James raised Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price target on the stock in a report on Wednesday. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Masimo has an average rating of “Moderate Buy” and an average price target of $152.57.

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.