Masimo (NASDAQ:MASI) Updates FY24 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $3.80-4.00 for the period, compared to the consensus EPS estimate of $3.88. The company issued revenue guidance of $2.085-2.135 billion, compared to the consensus revenue estimate of $2.10 billion. Masimo also updated its FY 2024 guidance to 3.800-4.000 EPS.

Masimo Price Performance

Shares of NASDAQ MASI traded up $0.34 during trading on Tuesday, reaching $141.05. The company had a trading volume of 273,214 shares, compared to its average volume of 674,230. 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 stock has a market capitalization of $7.50 billion, a PE ratio of 95.72 and a beta of 0.99. Masimo has a twelve month low of $75.36 and a twelve month high of $153.93. The stock has a 50-day moving average price of $127.74 and a two-hundred day moving average price of $124.99.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MASI shares. Piper Sandler reissued an “overweight” rating on shares of Masimo in a research note on Friday, October 18th. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a research report on Friday, September 20th. Finally, BTIG Research boosted their target price 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.