Masimo (NASDAQ:MASI) Updates FY24 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.54-3.70 for the period, compared to the consensus earnings per share 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.

Masimo Stock Performance

NASDAQ MASI traded down $15.98 during trading hours on Wednesday, hitting $120.02. The company’s stock had a trading volume of 2,332,545 shares, compared to its average volume of 581,284. 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 company has a market cap of $6.35 billion, a P/E ratio of 79.48 and a beta of 0.99. The company’s 50 day simple moving average is $136.19 and its two-hundred day simple moving average is $119.58. Masimo has a 12 month low of $75.22 and a 12 month high of $188.14.

Masimo (NASDAQ:MASI) last released its quarterly earnings results on Tuesday, May 7th. The medical equipment provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.71 by $0.06. The firm had revenue of $492.80 million during the quarter, compared to analyst estimates of $487.70 million. Masimo had a net margin of 3.98% and a return on equity of 13.77%. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.87 EPS. As a group, sell-side analysts expect that Masimo will post 3.51 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on MASI. Wells Fargo & Company raised Masimo from an equal weight rating to an overweight rating and raised their target price for the stock from $117.00 to $160.00 in a report on Monday, March 25th. Stifel Nicolaus upgraded Masimo from a hold rating to a buy rating and boosted their price target for the company from $148.00 to $170.00 in a report on Monday, April 15th. Piper Sandler boosted their price target on shares of Masimo from $117.00 to $126.00 and gave the company a neutral rating in a report on Wednesday. Needham & Company LLC restated a hold rating on shares of Masimo in a research note on Wednesday. Finally, BTIG Research raised their target price 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. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $138.71.

Insider Transactions at Masimo

In related news, Director Craig B. Reynolds sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was 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 $1,008,475.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.