Masimo (NASDAQ:MASI) Updates Q2 2024 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.730-0.790 for the period, compared to the consensus earnings per share estimate of 0.770. The company issued revenue guidance of $480.0 million-$510.0 million, compared to the consensus revenue estimate of $503.8 million.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Piper Sandler increased their target price on Masimo from $70.00 to $117.00 and gave the stock a neutral rating in a research note on Monday, February 26th. Stifel Nicolaus upgraded shares of Masimo from a hold rating to a buy rating and lifted their target price for the company from $148.00 to $170.00 in a research note on Monday, April 15th. StockNews.com upgraded shares of Masimo from a sell rating to a hold rating in a report on Friday, March 29th. Wells Fargo & Company raised shares of Masimo from an equal weight rating to an overweight rating and raised their target price for the company from $117.00 to $160.00 in a report on Monday, March 25th. Finally, Jefferies Financial Group reaffirmed a hold rating and issued a $121.00 price objective (up from $107.00) on shares of Masimo in a research note on Tuesday, January 30th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Masimo presently has an average rating of Hold and an average price target of $137.43.

Masimo Price Performance

Shares of MASI stock opened at $136.00 on Wednesday. The company’s 50-day simple moving average is $136.36 and its two-hundred day simple moving average is $119.58. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.18 and a quick ratio of 1.22. Masimo has a one year low of $75.22 and a one year high of $188.14. The company has a market capitalization of $7.20 billion, a P/E ratio of 90.07 and a beta of 0.99.

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

Insider Buying and Selling at Masimo

In other Masimo news, Director Craig B. Reynolds sold 40,000 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $136.17, for a total transaction of $5,446,800.00. Following the completion of the transaction, the director now directly owns 7,406 shares in the company, valued at $1,008,475.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.70% of the stock is currently owned by corporate insiders.

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.