Masimo (NASDAQ:MASI) Issues Q3 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.81-0.86 for the period, compared to the consensus EPS estimate of $0.84. The company issued revenue guidance of $495-515 million, compared to the consensus revenue estimate of $502.87 million. Masimo also updated its FY 2024 guidance to 3.800-4.000 EPS.

Masimo Price Performance

Shares of NASDAQ:MASI traded up $0.21 on Friday, reaching $144.22. 388,470 shares of the company traded hands, compared to its average volume of 672,529. Masimo has a fifty-two week low of $75.36 and a fifty-two week high of $153.93. The company’s 50 day moving average is $128.95 and its 200-day moving average is $125.27. The stock has a market capitalization of $7.67 billion, a PE ratio of 97.97 and a beta of 0.99. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.09 and a quick ratio of 1.15.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. BTIG Research increased their target price on Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a report on Monday, October 14th. Needham & Company LLC restated a “hold” rating on shares of Masimo in a report on Friday, September 20th. Finally, Piper Sandler restated an “overweight” rating on shares of Masimo in a report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $145.33.

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.