Masimo (NASDAQ:MASI) Announces Earnings Results

Masimo (NASDAQ:MASI) released its quarterly earnings data on Tuesday. The medical equipment provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.14, Briefing.com reports. The firm had revenue of $504.60 million during the quarter, compared to analyst estimates of $502.87 million. Masimo had a return on equity of 14.07% and a net margin of 3.94%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 earnings per share. 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

Shares of MASI traded up $12.40 on Wednesday, reaching $163.96. The company’s stock had a trading volume of 1,165,187 shares, compared to its average volume of 677,967. The stock’s 50 day simple moving average is $130.72 and its two-hundred day simple moving average is $125.34. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.09 and a quick ratio of 1.15. The stock has a market capitalization of $8.72 billion, a P/E ratio of 105.86 and a beta of 0.97. Masimo has a 12-month low of $75.36 and a 12-month high of $173.90.

Analysts Set New Price Targets

MASI has been the subject of several research analyst reports. Piper Sandler raised their price objective on shares of Masimo from $165.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Masimo in a research note on Wednesday. Wells Fargo & Company raised their price objective on Masimo from $160.00 to $171.00 and gave the company an “overweight” rating in a research report on Wednesday. Raymond James raised Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 target price on the stock in a research note on Wednesday. Finally, BTIG Research increased their price objective on shares of Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, October 14th. 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $152.57.

Masimo Company Profile

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.