Masimo (NASDAQ:MASI) Issues FY24 Earnings Guidance

Masimo (NASDAQ:MASI) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $3.54-3.70 for the period, compared to the consensus EPS estimate of $3.52. The company issued revenue guidance of $2.055-2.165 billion, compared to the consensus revenue estimate of $2.10 billion. Masimo also updated its Q2 guidance to $0.73-0.79 EPS.

Analysts Set New Price Targets

Several brokerages recently weighed in on MASI. StockNews.com raised shares of Masimo from a sell rating to a hold rating in a research report on Friday, March 29th. Stifel Nicolaus raised shares of Masimo from a hold rating to a buy rating and raised their price target for the company from $148.00 to $170.00 in a research report on Monday, April 15th. Piper Sandler increased their price objective on shares of Masimo from $117.00 to $126.00 and gave the company a neutral rating in a research note on Wednesday. BTIG Research increased 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. Finally, Jefferies Financial Group reiterated a hold rating and issued a $121.00 price objective (up previously 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $138.71.

Masimo Stock Performance

Shares of MASI stock traded down $3.79 during trading hours on Friday, hitting $120.37. 221,936 shares of the company were exchanged, compared to its average volume of 584,131. The firm has a fifty day simple moving average of $136.10 and a 200 day simple moving average of $119.62. 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 52-week low of $75.22 and a 52-week high of $174.69. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 82.23 and a beta of 0.99.

Masimo (NASDAQ:MASI) last released its quarterly earnings data on Tuesday, May 7th. The medical equipment provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.71 by $0.06. The company had revenue of $492.80 million during the quarter, compared to the consensus estimate of $487.70 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 12.8% on a year-over-year basis. During the same period last year, the firm earned $0.87 EPS. Research analysts predict that Masimo will post 3.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Masimo

In other Masimo news, Director Craig B. Reynolds sold 40,000 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $136.17, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed 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.