Masimo (NASDAQ:MASI) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Masimo (NASDAQ:MASI) posted its quarterly earnings data on Tuesday. The medical equipment provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06, Briefing.com reports. Masimo had a return on equity of 13.77% and a net margin of 3.98%. The company had revenue of $492.80 million during the quarter, compared to analyst estimates of $487.70 million. During the same quarter last year, the company earned $0.87 EPS. The firm’s revenue for the quarter was down 12.8% on a year-over-year basis. Masimo updated its Q2 guidance to $0.73-0.79 EPS and its FY24 guidance to $3.54-3.70 EPS.

Masimo Trading Down 12.1 %

Shares of MASI traded down $16.45 during mid-day trading on Wednesday, reaching $119.55. The stock had a trading volume of 779,455 shares, compared to its average volume of 562,194. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.18 and a quick ratio of 1.22. The business’s fifty day moving average is $136.36 and its 200 day moving average is $119.58. Masimo has a 52-week low of $75.22 and a 52-week high of $188.14. The firm has a market cap of $6.33 billion, a price-to-earnings ratio of 79.63 and a beta of 0.99.

Insider Activity at Masimo

In other Masimo news, Director Craig B. Reynolds sold 40,000 shares of Masimo stock in a transaction dated 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 sale, the director now directly owns 7,406 shares in the company, valued at $1,008,475.02. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MASI shares. StockNews.com raised shares of Masimo from a “sell” rating to a “hold” rating in a report on Friday, March 29th. Stifel Nicolaus upgraded shares of Masimo from a “hold” rating to a “buy” rating and upped their price target for the stock from $148.00 to $170.00 in a research report on Monday, April 15th. Wells Fargo & Company raised Masimo from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $117.00 to $160.00 in a research note on Monday, March 25th. Piper Sandler raised their price objective on shares of Masimo from $117.00 to $126.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Jefferies Financial Group restated a “hold” rating and set a $121.00 price objective (up from $107.00) on shares of Masimo in a research note on Tuesday, January 30th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $138.71.

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.