Masimo (NASDAQ:MASI) Updates Q2 Earnings Guidance

Masimo (NASDAQ:MASI) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.73-0.79 for the period, compared to the consensus estimate of $0.80. The company issued revenue guidance of $480-510 million, compared to the consensus revenue estimate of $502.70 million. Masimo also updated its FY24 guidance to $3.54-3.70 EPS.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MASI. StockNews.com upgraded Masimo from a sell rating to a hold rating in a research report on Friday, March 29th. Jefferies Financial Group reaffirmed a hold rating and set a $121.00 price objective (up from $107.00) on shares of Masimo in a research note on Tuesday, January 30th. Piper Sandler increased their price target on Masimo from $70.00 to $117.00 and gave the stock a neutral rating in a report on Monday, February 26th. Stifel Nicolaus raised shares of Masimo from a hold rating to a buy rating and upped their price objective for the stock from $148.00 to $170.00 in a research note on Monday, April 15th. Finally, Wells Fargo & Company upgraded shares of Masimo from an equal weight rating to an overweight rating and boosted their target price for the stock from $117.00 to $160.00 in a report on Monday, March 25th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $137.43.

Masimo Price Performance

NASDAQ MASI traded down $2.00 during trading hours on Tuesday, reaching $136.00. The company’s stock had a trading volume of 1,324,224 shares, compared to its average volume of 561,153. Masimo has a fifty-two week low of $75.22 and a fifty-two week high of $188.14. 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 company’s 50-day moving average is $136.24 and its two-hundred day moving average is $119.21. The stock has a market cap of $7.20 billion, a PE ratio of 91.39 and a beta of 0.99.

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

Insider Transactions at Masimo

In related news, Director Craig B. Reynolds sold 40,000 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $136.17, for a total value of $5,446,800.00. Following the completion of the transaction, the director now owns 7,406 shares of the company’s stock, valued at $1,008,475.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.70% 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.