Masimo (NASDAQ:MASI) Releases FY 2024 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 3.800-4.000 for the period, compared to the consensus estimate of 3.620. The company issued revenue guidance of $2.1 billion-$2.1 billion, compared to the consensus revenue estimate of $2.1 billion. Masimo also updated its FY24 guidance to $3.80-4.00 EPS.

Masimo Trading Up 4.2 %

NASDAQ MASI traded up $5.17 on Thursday, hitting $127.94. 1,053,751 shares of the stock were exchanged, compared to its average volume of 677,865. Masimo has a 52-week low of $75.22 and a 52-week high of $153.93. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.31 and a quick ratio of 1.31. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of 87.03 and a beta of 0.97. The company’s 50-day moving average price is $118.78 and its two-hundred day moving average price is $127.81.

Masimo (NASDAQ:MASI) last issued its earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.09. The company had revenue of $496.30 million during the quarter, compared to analyst estimates of $493.92 million. Masimo had a net margin of 4.01% and a return on equity of 13.26%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS. Research analysts predict that Masimo will post 3.63 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of Masimo from $160.00 to $165.00 and gave the company an overweight rating in a research note on Wednesday. Stifel Nicolaus raised shares of Masimo from a hold rating to a buy rating and lifted their price objective for the company from $148.00 to $170.00 in a research note on Monday, April 15th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Masimo in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $144.29.

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.