Masimo (NASDAQ:MASI) Updates FY 2024 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its FY 2024 earnings guidance on Friday morning. 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.

Masimo Stock Down 0.5 %

NASDAQ MASI opened at $135.92 on Friday. 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 has a 1-year low of $75.22 and a 1-year high of $198.00. The company has a 50 day moving average of $135.66 and a 200-day moving average of $114.20. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 90.01 and a beta of 0.97.

Masimo (NASDAQ:MASI) last released its quarterly earnings results on Tuesday, February 27th. The medical equipment provider reported $1.25 earnings per share for the quarter, beating 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 company had revenue of $548.90 million during the quarter, compared to the consensus estimate of $545.69 million. During the same period in the previous year, the business earned $1.32 earnings per share. The firm’s quarterly revenue was down 11.0% on a year-over-year basis. On average, equities research analysts expect that Masimo will post 3.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Needham & Company LLC cut shares of Masimo from a buy rating to a hold rating in a research note on Wednesday, January 3rd. Piper Sandler lifted their price objective on shares of Masimo from $70.00 to $117.00 and gave the company a neutral rating in a research note on Monday, February 26th. BTIG Research lifted 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. Jefferies Financial Group reissued a hold rating and issued a $121.00 price objective (up from $107.00) on shares of Masimo in a research note on Tuesday, January 30th. Finally, StockNews.com raised shares of Masimo from a sell rating to a hold rating in a research note on Friday, March 29th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $137.43.

Hedge Funds Weigh In On Masimo

Hedge funds and other institutional investors have recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec acquired a new position in Masimo in the first quarter valued at $37,000. Belpointe Asset Management LLC lifted its holdings in Masimo by 31.4% in the first quarter. Belpointe Asset Management LLC now owns 339 shares of the medical equipment provider’s stock valued at $63,000 after buying an additional 81 shares during the period. Castleview Partners LLC acquired a new position in shares of Masimo during the first quarter valued at about $69,000. UniSuper Management Pty Ltd acquired a new position in shares of Masimo during the second quarter valued at about $66,000. Finally, Lazard Asset Management LLC raised its holdings in shares of Masimo by 20.0% during the first quarter. Lazard Asset Management LLC now owns 485 shares of the medical equipment provider’s stock valued at $70,000 after purchasing an additional 81 shares during the period. 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.