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

Masimo (NASDAQ:MASI) issued its earnings results on Tuesday. The medical equipment provider reported $0.98 EPS for the quarter, topping 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 firm had revenue of $504.60 million for the quarter, compared to the consensus estimate of $502.87 million. During the same quarter in the prior year, the business earned $0.63 earnings per share. The company’s revenue was up 5.4% compared to the same quarter last year. Masimo updated its FY24 guidance to $3.95-$4.10 EPS and its Q4 2024 guidance to 1.350-1.500 EPS.

Masimo Stock Performance

Shares of Masimo stock opened at $161.35 on Friday. The business’s 50 day moving average price is $132.63 and its 200 day moving average price is $125.88. 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 company has a market cap of $8.58 billion, a price-to-earnings ratio of 109.76 and a beta of 0.97. Masimo has a one year low of $75.36 and a one year high of $173.90.

Wall Street Analyst Weigh In

MASI has been the topic of a number of recent research reports. BTIG Research upped their target price on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Needham & Company LLC restated a “hold” rating on shares of Masimo in a research note on Wednesday. Wells Fargo & Company upped their target price on Masimo from $160.00 to $171.00 and gave the stock an “overweight” rating in a research note on Wednesday. Piper Sandler upped their target price on Masimo from $165.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Raymond James upgraded Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 target price on the stock in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average 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.