Masimo (NASDAQ:MASI) Issues Q3 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.81-0.86 for the period, compared to the consensus EPS estimate of $0.86. The company issued revenue guidance of $495-515 million, compared to the consensus revenue estimate of $508.45 million. Masimo also updated its FY24 guidance to $3.80-4.00 EPS.

Masimo Trading Up 5.3 %

Shares of MASI traded up $5.53 during trading hours on Tuesday, reaching $110.32. 1,369,658 shares of the company traded hands, compared to its average volume of 669,271. Masimo has a 12 month low of $75.22 and a 12 month high of $153.93. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.62. The company’s fifty day moving average price is $119.65 and its two-hundred day moving average price is $128.07. The company has a market capitalization of $5.87 billion, a price-to-earnings ratio of 75.05 and a beta of 0.97.

Masimo (NASDAQ:MASI) last posted its quarterly earnings data on Tuesday, May 7th. The medical equipment provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.71 by $0.06. Masimo had a net margin of 4.01% and a return on equity of 13.26%. The business had revenue of $492.80 million for the quarter, compared to analyst estimates of $487.70 million. During the same quarter in the previous year, the firm posted $0.87 earnings per share. Masimo’s quarterly revenue was down 12.8% on a year-over-year basis. Equities research analysts predict that Masimo will post 3.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MASI. Piper Sandler upgraded shares of Masimo from a neutral rating to an overweight rating and upped their target price for the stock from $126.00 to $160.00 in a research note on Monday, June 3rd. Needham & Company LLC reissued a hold rating on shares of Masimo in a report on Tuesday, July 9th. Finally, Stifel Nicolaus raised shares of Masimo from a hold rating to a buy rating and boosted their price objective for the company from $148.00 to $170.00 in a report on Monday, April 15th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $143.57.

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.