Masimo (NASDAQ:MASI) Issues FY 2024 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 3.800-4.000 for the period, compared to the consensus EPS estimate of 3.880. The company issued revenue guidance of $2.1 billion-$2.1 billion, compared to the consensus revenue estimate of $2.1 billion. Masimo also updated its FY24 guidance to $3.80-4.00 EPS.

Masimo Stock Performance

Shares of NASDAQ:MASI traded up $1.84 during trading on Wednesday, reaching $142.89. 617,861 shares of the stock were exchanged, compared to its average volume of 673,961. Masimo has a 12 month low of $75.36 and a 12 month high of $153.93. The firm has a market cap of $7.60 billion, a PE ratio of 95.95 and a beta of 0.99. The stock has a 50-day moving average price of $128.12 and a 200-day moving average price of $125.01. The company has a current ratio of 2.09, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55.

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

Wall Street Analysts Forecast Growth

MASI has been the subject of several recent research reports. Piper Sandler reiterated an “overweight” rating on shares of Masimo in a research note on Friday, October 18th. BTIG Research boosted their price target 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 restated a “hold” rating on shares of Masimo in a research note on Friday, September 20th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.