Masimo (NASDAQ:MASI) Issues FY 2024 Earnings Guidance

Masimo (NASDAQ:MASI) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 3.440-3.600 for the period, compared to the consensus estimate of 3.520. The company issued revenue guidance of $2.0 billion-$2.2 billion, compared to the consensus revenue estimate of $2.1 billion.

Analyst Ratings Changes

Several analysts recently issued reports on MASI shares. Wells Fargo & Company upgraded Masimo from an equal weight rating to an overweight rating and boosted their price target for the company from $117.00 to $160.00 in a research note on Monday, March 25th. Stifel Nicolaus raised Masimo from a hold rating to a buy rating and increased their price target for the company from $148.00 to $170.00 in a research note on Monday, April 15th. BTIG Research raised their target price on Masimo from $145.00 to $166.00 and gave the stock a buy rating in a research note on Monday, March 25th. Jefferies Financial Group reiterated a hold rating and issued a $121.00 price target (up previously from $107.00) on shares of Masimo in a report on Tuesday, January 30th. Finally, Needham & Company LLC downgraded Masimo from a buy rating to a hold rating in a research report on Wednesday, January 3rd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Masimo presently has a consensus rating of Hold and a consensus price target of $137.43.

Masimo Stock Down 0.8 %

Shares of NASDAQ MASI opened at $134.77 on Friday. The stock has a market capitalization of $7.13 billion, a price-to-earnings ratio of 89.25 and a beta of 0.97. Masimo has a 12-month low of $75.22 and a 12-month high of $198.00. The firm’s 50-day moving average price is $135.66 and its 200-day moving average price is $114.53. The company has a current ratio of 2.18, a quick ratio of 1.22 and a debt-to-equity ratio of 0.64.

Masimo (NASDAQ:MASI) last issued its earnings results on Tuesday, February 27th. The medical equipment provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.43. Masimo had a net margin of 3.98% and a return on equity of 13.77%. The business had revenue of $548.90 million for the quarter, compared to the consensus estimate of $545.69 million. During the same period in the prior year, the firm earned $1.32 EPS. The company’s revenue for the quarter was down 11.0% compared to the same quarter last year. On average, equities research analysts anticipate that Masimo will post 3.51 EPS for the current fiscal year.

Institutional Trading of Masimo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MASI. FIL Ltd lifted its stake in shares of Masimo by 84.3% in the fourth quarter. FIL Ltd now owns 216,474 shares of the medical equipment provider’s stock worth $25,373,000 after buying an additional 99,004 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Masimo by 3.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 18,433 shares of the medical equipment provider’s stock valued at $2,161,000 after acquiring an additional 531 shares during the period. Vanguard Group Inc. raised its stake in shares of Masimo by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 4,781,343 shares of the medical equipment provider’s stock valued at $560,421,000 after acquiring an additional 26,473 shares during the period. Weiss Multi Strategy Advisers LLC grew its holdings in shares of Masimo by 27.7% in the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 12,000 shares of the medical equipment provider’s stock valued at $1,407,000 after purchasing an additional 2,600 shares in the last quarter. Finally, Gotham Asset Management LLC grew its holdings in shares of Masimo by 1,424.0% in the fourth quarter. Gotham Asset Management LLC now owns 80,056 shares of the medical equipment provider’s stock valued at $9,383,000 after purchasing an additional 74,803 shares in the last quarter. Institutional investors and hedge funds own 85.96% of the company’s stock.

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.