Masimo (NASDAQ:MASI) Releases Earnings Results, Beats Expectations By $0.14 EPS

Masimo (NASDAQ:MASI) released its earnings results on Tuesday. The medical equipment provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.14, Briefing.com reports. Masimo had a return on equity of 14.07% and a net margin of 3.94%. The company had revenue of $504.60 million during the quarter, compared to analyst estimates of $502.87 million. During the same quarter in the previous year, the company posted $0.63 EPS. Masimo’s revenue for the quarter was up 5.4% on a year-over-year basis. Masimo updated its FY24 guidance to $3.95-$4.10 EPS and its Q4 2024 guidance to 1.350-1.500 EPS.

Masimo Stock Up 1.9 %

Shares of MASI stock traded up $3.00 during midday trading on Friday, reaching $164.35. 127,484 shares of the stock were exchanged, compared to its average volume of 681,187. The company has a current ratio of 2.09, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. The firm has a market cap of $8.74 billion, a PE ratio of 112.44 and a beta of 0.97. The company’s 50 day moving average is $132.63 and its two-hundred day moving average is $125.88. Masimo has a 1 year low of $81.82 and a 1 year high of $173.90.

Analyst Ratings Changes

A number of research analysts recently issued reports on MASI shares. Piper Sandler boosted their price target on Masimo from $165.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday. Wells Fargo & Company boosted their price target on Masimo from $160.00 to $171.00 and gave the company an “overweight” rating in a report on Wednesday. Raymond James upgraded Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price target on the stock in a report on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Masimo in a report on Wednesday. Finally, BTIG Research boosted their price target on Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $152.57.

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.