Masimo (NASDAQ:MASI) Updates FY24 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $3.80-4.00 for the period, compared to the consensus EPS estimate of $3.88. The company issued revenue guidance of $2.085-2.135 billion, compared to the consensus revenue estimate of $2.10 billion. Masimo also updated its FY 2024 guidance to 3.800-4.000 EPS.

Masimo Price Performance

MASI traded up $0.34 during trading on Tuesday, reaching $141.05. The company’s stock had a trading volume of 273,214 shares, compared to its average volume of 674,230. The company has a market cap of $7.50 billion, a price-to-earnings ratio of 95.72 and a beta of 0.99. The firm has a fifty day simple moving average of $127.74 and a two-hundred day simple moving average of $124.99. Masimo has a 1 year low of $75.36 and a 1 year high of $153.93. The company has a quick ratio of 1.15, a current ratio of 2.09 and a debt-to-equity ratio of 0.55.

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

Analyst Ratings Changes

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

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.