Masimo (NASDAQ:MASI) Issues Q2 Earnings Guidance

Masimo (NASDAQ:MASI) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.73-0.79 for the period, compared to the consensus earnings per share estimate of $0.80. The company issued revenue guidance of $480-510 million, compared to the consensus revenue estimate of $502.70 million. Masimo also updated its FY24 guidance to $3.54-3.70 EPS.

Analyst Upgrades and Downgrades

Several brokerages have commented on MASI. Piper Sandler raised their price target on shares of Masimo from $70.00 to $117.00 and gave the company a neutral rating in a report on Monday, February 26th. 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. Jefferies Financial Group reaffirmed a hold rating and issued a $121.00 target price (up from $107.00) on shares of Masimo in a research note on Tuesday, January 30th. StockNews.com raised Masimo from a sell rating to a hold rating in a research note on Friday, March 29th. Finally, Wells Fargo & Company upgraded shares of Masimo from an equal weight rating to an overweight rating and raised their price objective for the stock from $117.00 to $160.00 in a report on Monday, March 25th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $137.43.

Masimo Stock Performance

MASI traded down $2.00 during trading 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. Masimo has a one year low of $75.22 and a one year high of $188.14. The business’s 50 day simple moving average is $136.24 and its 200-day simple moving average is $119.21. The company has a quick ratio of 1.22, a current ratio of 2.18 and a debt-to-equity ratio of 0.64. The firm has a market cap of $7.20 billion, a PE ratio of 91.39 and a beta of 0.99.

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

Insider Transactions at Masimo

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