Masimo (NASDAQ:MASI) Issues FY 2024 Earnings Guidance

Masimo (NASDAQ:MASI) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 3.440-3.600 for the period, compared to the consensus EPS estimate of 3.520. The company issued revenue guidance of $2.0 billion-$2.2 billion, compared to the consensus revenue estimate of $2.1 billion.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MASI. BTIG Research upped their target price on Masimo from $145.00 to $166.00 and gave the stock a buy rating in a report on Monday, March 25th. StockNews.com raised Masimo from a sell rating to a hold rating in a report on Friday, March 29th. Needham & Company LLC cut Masimo from a buy rating to a hold rating in a report on Wednesday, January 3rd. Piper Sandler upped their target price on Masimo from $70.00 to $117.00 and gave the stock a neutral rating in a report on Monday, February 26th. Finally, Wells Fargo & Company raised Masimo from an equal weight rating to an overweight rating and increased their price target for the company from $117.00 to $160.00 in a research note on Monday, March 25th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $137.43.

Masimo Stock Down 0.8 %

Shares of Masimo stock opened at $134.77 on Friday. Masimo has a one year low of $75.22 and a one year high of $198.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.18 and a quick ratio of 1.22. The stock’s 50-day moving average is $135.66 and its 200 day moving average is $114.53. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of 89.25 and a beta of 0.97.

Masimo (NASDAQ:MASI) last announced its earnings results on Tuesday, February 27th. The medical equipment provider reported $1.25 EPS for the quarter, beating the consensus estimate of $0.82 by $0.43. The company had revenue of $548.90 million for the quarter, compared to analyst estimates of $545.69 million. Masimo had a return on equity of 13.77% and a net margin of 3.98%. The firm’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.32 EPS. Equities research analysts anticipate that Masimo will post 3.51 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Masimo in the first quarter valued at approximately $37,000. Belpointe Asset Management LLC lifted its holdings in shares of Masimo by 31.4% in the first quarter. Belpointe Asset Management LLC now owns 339 shares of the medical equipment provider’s stock valued at $63,000 after purchasing an additional 81 shares in the last quarter. UniSuper Management Pty Ltd bought a new position in shares of Masimo in the second quarter valued at approximately $66,000. Castleview Partners LLC purchased a new stake in shares of Masimo during the first quarter valued at approximately $69,000. Finally, Lazard Asset Management LLC increased its position in shares of Masimo by 20.0% during the first quarter. Lazard Asset Management LLC now owns 485 shares of the medical equipment provider’s stock valued at $70,000 after acquiring an additional 81 shares during the last quarter. Institutional investors own 85.96% of the company’s stock.

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.