Masimo (NASDAQ:MASI) Updates FY24 Earnings Guidance

Masimo (NASDAQ:MASI) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $3.95-$4.10 for the period, compared to the consensus earnings per share estimate of $3.88. The company issued revenue guidance of $2.075-$2.105 billion, compared to the consensus revenue estimate of $2.10 billion. Masimo also updated its Q4 2024 guidance to 1.350-1.500 EPS.

Analyst Upgrades and Downgrades

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

Masimo Stock Performance

Masimo stock traded up $16.07 during midday trading on Wednesday, hitting $167.63. 2,121,364 shares of the company’s stock were exchanged, compared to its average volume of 574,318. Masimo has a 12-month low of $75.36 and a 12-month high of $173.90. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 2.09. The stock has a market cap of $8.92 billion, a price-to-earnings ratio of 114.03 and a beta of 0.97. The firm’s 50 day simple moving average is $131.74 and its 200 day simple moving average is $125.64.

Masimo (NASDAQ:MASI) last issued its quarterly earnings data on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.14. Masimo had a net margin of 3.94% and a return on equity of 14.07%. The company had revenue of $504.60 million for the quarter, compared to the consensus estimate of $502.87 million. During the same period last year, the firm posted $0.63 EPS. Masimo’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts predict that Masimo will post 3.88 EPS 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.