Masimo (NASDAQ:MASI) Releases Q3 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.81-0.86 for the period, compared to the consensus estimate of $0.84. The company issued revenue guidance of $495-515 million, compared to the consensus revenue estimate of $502.87 million. Masimo also updated its FY 2024 guidance to 3.800-4.000 EPS.

Masimo Stock Performance

Shares of Masimo stock traded up $0.34 on Tuesday, reaching $141.05. 273,214 shares of the company traded hands, compared to its average volume of 674,230. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.09 and a quick ratio of 1.15. The firm has a market capitalization of $7.50 billion, a PE ratio of 95.72 and a beta of 0.99. The company has a 50 day moving average of $127.74 and a 200 day moving average of $124.99. Masimo has a 52 week low of $75.36 and a 52 week high of $153.93.

Masimo (NASDAQ:MASI) last issued its earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.77 by $0.09. The business had revenue of $496.30 million during the quarter, compared to the consensus estimate of $493.92 million. Masimo had a return on equity of 14.07% and a net margin of 3.94%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 EPS. Equities analysts forecast that Masimo will post 3.88 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on MASI. Piper Sandler reaffirmed an “overweight” rating on shares of Masimo in a report on Friday, October 18th. BTIG Research lifted their price target on shares of Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Needham & Company LLC restated a “hold” rating on shares of Masimo in a research note on Friday, September 20th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $145.33.

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.