Masimo (NASDAQ:MASI) Releases FY24 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.95-$4.10 for the period, compared to the consensus earnings per share estimate of $3.88. The company issued revenue guidance of $2.075-$2.105 billion, compared to the consensus revenue estimate of $2.10 billion.

Masimo Stock Up 2.8 %

MASI traded up $4.17 during trading on Tuesday, hitting $151.56. 1,308,702 shares of the company’s stock were exchanged, compared to its average volume of 675,770. Masimo has a fifty-two week low of $75.36 and a fifty-two week high of $153.93. The stock has a market cap of $8.06 billion, a P/E ratio of 100.27 and a beta of 0.97. The business’s 50 day moving average is $130.02 and its two-hundred day moving average is $125.22. 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 posted its earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. Masimo had a net margin of 3.94% and a return on equity of 14.07%. The company had revenue of $496.30 million for the quarter, compared to analyst estimates of $493.92 million. During the same quarter in the prior year, the business posted $0.62 EPS. The firm’s revenue was up 9.0% compared to the same quarter last year. As a group, equities analysts expect that Masimo will post 3.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MASI. Piper Sandler restated an “overweight” rating on shares of Masimo in a research note on Friday, October 18th. BTIG Research boosted their target price on Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research report on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average 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.