Masimo (NASDAQ:MASI) Announces Quarterly Earnings Results

Masimo (NASDAQ:MASI) issued its quarterly earnings data on Tuesday. The medical equipment provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.14, Briefing.com reports. Masimo had a net margin of 3.94% and a return on equity of 14.07%. The company had revenue of $504.60 million during the quarter, compared to the consensus estimate of $502.87 million. During the same quarter last year, the company earned $0.63 earnings per share. Masimo’s revenue for the quarter was up 5.4% on a year-over-year basis. Masimo updated its FY24 guidance to $3.95-$4.10 EPS and its Q4 2024 guidance to 1.350-1.500 EPS.

Masimo Stock Performance

Shares of MASI traded up $12.56 during trading hours on Wednesday, reaching $164.12. 1,472,444 shares of the company’s stock traded hands, compared to its average volume of 679,152. The firm has a market capitalization of $8.73 billion, a price-to-earnings ratio of 105.86 and a beta of 0.97. 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 has a twelve month low of $75.36 and a twelve month high of $173.90. The business’s fifty day simple moving average is $130.72 and its two-hundred day simple moving average is $125.34.

Analysts Set New Price Targets

Several analysts have issued reports on MASI shares. Raymond James raised shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price objective for the company in a research report on Wednesday. Piper Sandler increased their price objective on shares of Masimo from $165.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research report on Wednesday. BTIG Research increased 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, Wells Fargo & Company increased their target price on Masimo from $160.00 to $171.00 and gave the company an “overweight” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $152.57.

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.