Masimo (NASDAQ:MASI) Releases FY24 Earnings Guidance

Masimo (NASDAQ:MASI) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $3.54-3.70 for the period, compared to the consensus earnings per share estimate of $3.52. The company issued revenue guidance of $2.055-2.165 billion, compared to the consensus revenue estimate of $2.10 billion. Masimo also updated its Q2 guidance to $0.73-0.79 EPS.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MASI shares. Piper Sandler boosted their target price on shares of Masimo from $117.00 to $126.00 and gave the stock a neutral rating in a research note on Wednesday. Jefferies Financial Group reiterated a hold rating and set a $121.00 target price (up from $107.00) on shares of Masimo in a report on Tuesday, January 30th. BTIG Research increased their target price on shares of Masimo from $145.00 to $166.00 and gave the company a buy rating in a research report on Monday, March 25th. Stifel Nicolaus raised shares of Masimo from a hold rating to a buy rating and raised their price objective for the stock from $148.00 to $170.00 in a research report on Monday, April 15th. Finally, Wells Fargo & Company upgraded shares of Masimo from an equal weight rating to an overweight rating and raised their target price for the stock from $117.00 to $160.00 in a research note on Monday, March 25th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $138.71.

Masimo Trading Down 3.1 %

Shares of NASDAQ MASI traded down $3.79 during midday trading on Friday, reaching $120.37. 221,936 shares of the stock were exchanged, compared to its average volume of 584,131. The company has a market capitalization of $6.37 billion, a P/E ratio of 82.23 and a beta of 0.99. Masimo has a 52-week low of $75.22 and a 52-week high of $174.69. The company has a current ratio of 2.18, a quick ratio of 1.22 and a debt-to-equity ratio of 0.64. The stock has a 50 day moving average price of $136.10 and a 200-day moving average price of $119.62.

Masimo (NASDAQ:MASI) last issued its quarterly earnings results on Tuesday, May 7th. The medical equipment provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The business had revenue of $492.80 million during the quarter, compared to the consensus estimate of $487.70 million. Masimo had a net margin of 3.98% and a return on equity of 13.77%. The company’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.87 earnings per share. Equities research analysts expect that Masimo will post 3.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Masimo

In other Masimo news, Director Craig B. Reynolds sold 40,000 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $136.17, for a total transaction of $5,446,800.00. Following the sale, the director now directly owns 7,406 shares of the company’s stock, valued at $1,008,475.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.70% of the stock is currently owned by insiders.

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.