Masimo (NASDAQ:MASI) Updates Q1 2024 Earnings Guidance

Masimo (NASDAQ:MASI) updated its first quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.670-0.740 for the period, compared to the consensus earnings per share estimate of 0.690. The company issued revenue guidance of $476.0 million-$501.0 million, compared to the consensus revenue estimate of $487.6 million.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MASI. Needham & Company LLC cut Masimo from a buy rating to a hold rating in a research report on Wednesday, January 3rd. BTIG Research boosted their price target on Masimo from $145.00 to $166.00 and gave the stock a buy rating in a research report on Monday, March 25th. Piper Sandler boosted their price target on Masimo from $70.00 to $117.00 and gave the stock a neutral rating in a research report on Monday, February 26th. Jefferies Financial Group reiterated a hold rating and set a $121.00 price target (up from $107.00) on shares of Masimo in a research report on Tuesday, January 30th. Finally, Stifel Nicolaus upgraded Masimo from a hold rating to a buy rating and boosted their price target for the stock from $148.00 to $170.00 in a research report on Monday. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Masimo currently has a consensus rating of Hold and a consensus price target of $137.43.

Masimo Stock Performance

NASDAQ MASI opened at $136.62 on Thursday. The stock’s fifty day moving average is $135.68 and its two-hundred day moving average is $114.05. The firm has a market capitalization of $7.23 billion, a P/E ratio of 90.48 and a beta of 0.97. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.22 and a current ratio of 2.18. Masimo has a fifty-two week low of $75.22 and a fifty-two week high of $198.00.

Masimo (NASDAQ:MASI) last announced its quarterly earnings results on Tuesday, February 27th. The medical equipment provider reported $1.25 EPS for the quarter, beating the consensus estimate of $0.82 by $0.43. Masimo had a return on equity of 13.77% and a net margin of 3.98%. The business had revenue of $548.90 million for the quarter, compared to analyst estimates of $545.69 million. During the same quarter in the prior year, the company posted $1.32 EPS. The company’s quarterly revenue was down 11.0% on a year-over-year basis. On average, research analysts anticipate that Masimo will post 3.51 earnings per share for the current year.

Institutional Investors Weigh In On Masimo

Several institutional investors and hedge funds have recently modified their holdings of MASI. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Masimo in the 4th quarter valued at $80,154,000. Goldman Sachs Group Inc. increased its holdings in Masimo by 92.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 856,664 shares of the medical equipment provider’s stock worth $111,940,000 after purchasing an additional 410,793 shares during the period. Point72 Asset Management L.P. increased its holdings in Masimo by 176.7% during the 4th quarter. Point72 Asset Management L.P. now owns 516,356 shares of the medical equipment provider’s stock worth $60,522,000 after purchasing an additional 329,712 shares during the period. Norges Bank purchased a new stake in Masimo during the 4th quarter worth about $42,917,000. Finally, Worldquant Millennium Advisors LLC purchased a new stake in Masimo during the 1st quarter worth about $34,358,000. Hedge funds and other institutional investors own 85.96% of the company’s stock.

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.