Masimo (NASDAQ:MASI) Issues FY24 Earnings Guidance

Masimo (NASDAQ:MASI) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $3.54-3.70 for the period, compared to the consensus EPS estimate of $3.52. The company issued revenue guidance of $2.055-2.165 billion, compared to the consensus revenue estimate of $2.10 billion. Masimo also updated its Q2 guidance to $0.73-0.79 EPS.

Masimo Price Performance

Shares of Masimo stock traded down $2.00 on Tuesday, hitting $136.00. The company’s stock had a trading volume of 1,324,224 shares, compared to its average volume of 561,153. The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of 90.07 and a beta of 0.99. The firm has a fifty day moving average price of $136.24 and a 200-day moving average price of $119.21. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.22 and a current ratio of 2.18. Masimo has a 1 year low of $75.22 and a 1 year high of $188.14.

Masimo (NASDAQ:MASI) last posted its quarterly earnings results on Tuesday, February 27th. The medical equipment provider reported $1.25 EPS for the quarter, beating the consensus estimate of $0.82 by $0.43. The firm had revenue of $548.90 million during the quarter, compared to analysts’ expectations of $545.69 million. Masimo had a return on equity of 13.77% and a net margin of 3.98%. The business’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.32 earnings per share. As a group, sell-side analysts anticipate that Masimo will post 3.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MASI has been the subject of several analyst reports. Wells Fargo & Company raised Masimo from an equal weight rating to an overweight rating and boosted their target price for the stock from $117.00 to $160.00 in a research note on Monday, March 25th. BTIG Research upped their price objective on shares of Masimo from $145.00 to $166.00 and gave the company a buy rating in a research note on Monday, March 25th. Stifel Nicolaus upgraded shares of Masimo from a hold rating to a buy rating and upped their price target for the company from $148.00 to $170.00 in a research report on Monday, April 15th. StockNews.com raised shares of Masimo from a sell rating to a hold rating in a research note on Friday, March 29th. Finally, Piper Sandler raised their target price on Masimo from $70.00 to $117.00 and gave the company a neutral rating in a report on Monday, February 26th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $137.43.

Insider Activity

In other news, Director Craig B. Reynolds sold 40,000 shares of Masimo stock in a transaction on Friday, April 26th. The stock was sold at an average price of $136.17, for a total transaction of $5,446,800.00. Following the transaction, the director now directly owns 7,406 shares in the company, valued at approximately $1,008,475.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 9.70% of the company’s stock.

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.