Masimo (NASDAQ:MASI) Updates FY 2024 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 3.440-3.600 for the period, compared to the consensus earnings per share estimate of 3.520. The company issued revenue guidance of $2.0 billion-$2.2 billion, compared to the consensus revenue estimate of $2.1 billion.

Masimo Stock Down 0.5 %

Shares of Masimo stock opened at $135.92 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.22 and a current ratio of 2.18. The stock has a market capitalization of $7.19 billion, a PE ratio of 90.01 and a beta of 0.97. Masimo has a 52-week low of $75.22 and a 52-week high of $198.00. The company has a 50-day simple moving average of $135.66 and a two-hundred day simple moving average of $114.20.

Masimo (NASDAQ:MASI) last issued its earnings results on Tuesday, February 27th. The medical equipment provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.43. The business had revenue of $548.90 million during the quarter, compared to analysts’ expectations of $545.69 million. Masimo had a net margin of 3.98% and a return on equity of 13.77%. The business’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.32 earnings per share. On average, analysts anticipate that Masimo will post 3.51 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on MASI. StockNews.com upgraded shares of Masimo from a sell rating to a hold rating in a research note on Friday, March 29th. Stifel Nicolaus upgraded shares of Masimo from a hold rating to a buy rating and upped their price target for the stock from $148.00 to $170.00 in a research report on Monday. Wells Fargo & Company upgraded shares of Masimo from an equal weight rating to an overweight rating and upped their price target for the stock from $117.00 to $160.00 in a research report on Monday, March 25th. BTIG Research boosted their target price on shares of Masimo from $145.00 to $166.00 and gave the stock a buy rating in a report on Monday, March 25th. Finally, Jefferies Financial Group reaffirmed a hold rating and set a $121.00 price target (up previously from $107.00) on shares of Masimo in a research note on Tuesday, January 30th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $137.43.

Hedge Funds Weigh In On Masimo

Several hedge funds and other institutional investors have recently modified their holdings of MASI. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Masimo during the 1st quarter valued at approximately $37,000. Belpointe Asset Management LLC increased its holdings in shares of Masimo by 31.4% during the 1st quarter. Belpointe Asset Management LLC now owns 339 shares of the medical equipment provider’s stock valued at $63,000 after purchasing an additional 81 shares in the last quarter. Castleview Partners LLC purchased a new position in shares of Masimo during the 1st quarter valued at approximately $69,000. UniSuper Management Pty Ltd purchased a new stake in Masimo in the 2nd quarter worth $66,000. Finally, Lazard Asset Management LLC increased its holdings in Masimo by 20.0% in the 1st quarter. Lazard Asset Management LLC now owns 485 shares of the medical equipment provider’s stock worth $70,000 after acquiring an additional 81 shares in the last quarter. 85.96% of the stock is owned by hedge funds and other institutional investors.

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.