Masimo (NASDAQ:MASI) Announces Earnings Results, Beats Estimates By $0.06 EPS

Masimo (NASDAQ:MASI) posted its quarterly earnings results on Tuesday. The medical equipment provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06, Briefing.com reports. The business had revenue of $492.80 million during the quarter, compared to the consensus estimate of $487.70 million. Masimo had a return on equity of 13.77% and a net margin of 3.98%. Masimo’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 earnings per share. Masimo updated its Q2 guidance to $0.73-0.79 EPS and its FY24 guidance to $3.54-3.70 EPS.

Masimo Trading Up 2.2 %

MASI stock traded up $2.61 during trading on Thursday, hitting $122.63. The company had a trading volume of 117,653 shares, compared to its average volume of 575,456. The stock has a market cap of $6.49 billion, a PE ratio of 79.48 and a beta of 0.99. Masimo has a one year low of $75.22 and a one year high of $176.29. The business has a 50-day moving average of $136.19 and a 200-day moving average of $119.58. The company has a current ratio of 2.18, a quick ratio of 1.22 and a debt-to-equity ratio of 0.64.

Analyst Ratings Changes

A number of research analysts recently commented on MASI shares. Piper Sandler boosted their price target on Masimo from $117.00 to $126.00 and gave the company a “neutral” rating in a research note on Wednesday. BTIG Research boosted their price target on Masimo from $145.00 to $166.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Stifel Nicolaus raised Masimo from a “hold” rating to a “buy” rating and boosted their target price for the stock from $148.00 to $170.00 in a research note on Monday, April 15th. Wells Fargo & Company raised Masimo from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $117.00 to $160.00 in a research note on Monday, March 25th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Masimo in a research note on Wednesday. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Masimo currently has an average rating of “Hold” and a consensus price target of $138.71.

Insiders Place Their Bets

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

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.