Masimo (NASDAQ:MASI) Updates Q1 2024 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its first quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.670-0.740 for the period, compared to the consensus 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.

Masimo Stock Down 1.0 %

MASI traded down $1.45 during mid-day trading on Wednesday, reaching $136.73. 173,157 shares of the stock were exchanged, compared to its average volume of 583,562. Masimo has a 1 year low of $75.22 and a 1 year high of $198.00. 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 $7.23 billion, a PE ratio of 90.52 and a beta of 0.97. The company has a 50 day moving average price of $135.65 and a two-hundred day moving average price of $113.89.

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

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Stifel Nicolaus raised Masimo from a hold rating to a buy rating and increased their price objective for the company from $148.00 to $170.00 in a report on Monday. BTIG Research increased their price target on Masimo from $145.00 to $166.00 and gave the stock a buy rating in a research note on Monday, March 25th. Needham & Company LLC lowered Masimo from a buy rating to a hold rating in a report on Wednesday, January 3rd. Jefferies Financial Group reiterated a hold rating and set a $121.00 target price (up previously from $107.00) on shares of Masimo in a research report on Tuesday, January 30th. Finally, StockNews.com raised shares of Masimo from a sell rating to a hold rating in a research report on Friday, March 29th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Masimo presently has a consensus rating of Hold and an average target price of $137.43.

Hedge Funds Weigh In On Masimo

Several hedge funds and other institutional investors have recently modified their holdings of MASI. FIL Ltd increased its stake in shares of Masimo by 84.3% in the 4th quarter. FIL Ltd now owns 216,474 shares of the medical equipment provider’s stock worth $25,373,000 after acquiring an additional 99,004 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Masimo by 3.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 18,433 shares of the medical equipment provider’s stock worth $2,161,000 after acquiring an additional 531 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Masimo by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 4,781,343 shares of the medical equipment provider’s stock worth $560,421,000 after acquiring an additional 26,473 shares during the last quarter. Weiss Multi Strategy Advisers LLC increased its holdings in shares of Masimo by 27.7% during the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 12,000 shares of the medical equipment provider’s stock valued at $1,407,000 after acquiring an additional 2,600 shares in the last quarter. Finally, Gotham Asset Management LLC grew its position in Masimo by 1,424.0% during the 4th quarter. Gotham Asset Management LLC now owns 80,056 shares of the medical equipment provider’s stock valued at $9,383,000 after purchasing an additional 74,803 shares during the last quarter. Hedge funds and other institutional investors own 85.96% of the company’s stock.

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.