Masimo (NASDAQ:MASI) Releases FY24 Earnings Guidance

Masimo (NASDAQ:MASI) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $3.80-4.00 for the period, compared to the consensus estimate of $3.88. The company issued revenue guidance of $2.085-2.135 billion, compared to the consensus revenue estimate of $2.10 billion. Masimo also updated its FY 2024 guidance to 3.800-4.000 EPS.

Analysts Set New Price Targets

Several brokerages have commented on MASI. BTIG Research boosted their price target on shares of Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Piper Sandler restated an “overweight” rating on shares of Masimo in a research note on Friday, October 18th. 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $145.33.

Masimo Stock Performance

Masimo stock traded up $0.21 during trading hours on Friday, hitting $144.22. The company had a trading volume of 388,470 shares, compared to its average volume of 672,529. The firm has a market cap of $7.67 billion, a PE ratio of 97.97 and a beta of 0.99. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.09 and a quick ratio of 1.15. Masimo has a one year low of $75.36 and a one year high of $153.93. The firm has a 50-day moving average of $128.95 and a 200 day moving average of $125.27.

Masimo (NASDAQ:MASI) last released its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.09. The firm had revenue of $496.30 million for the quarter, compared to analysts’ expectations of $493.92 million. Masimo had a net margin of 3.94% and a return on equity of 14.07%. The business’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 EPS. On average, sell-side analysts expect that Masimo will post 3.88 earnings per share for the current year.

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.