Masimo (NASDAQ:MASI) Releases Q2 2024 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.730-0.790 for the period, compared to the consensus estimate of 0.770. The company issued revenue guidance of $480.0 million-$510.0 million, compared to the consensus revenue estimate of $503.8 million.

Masimo Stock Up 3.4 %

Shares of NASDAQ MASI traded up $4.14 during trading on Thursday, hitting $124.16. The stock had a trading volume of 1,208,349 shares, compared to its average volume of 588,065. 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 firm has a fifty day moving average of $136.10 and a two-hundred day moving average of $119.62. Masimo has a 12 month low of $75.22 and a 12 month high of $176.29. The company has a market capitalization of $6.57 billion, a PE ratio of 82.23 and a beta of 0.99.

Masimo (NASDAQ:MASI) last issued its quarterly earnings data on Tuesday, May 7th. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. Masimo had a net margin of 3.98% and a return on equity of 13.77%. The business had revenue of $492.80 million during the quarter, compared to the consensus estimate of $487.70 million. During the same period in the prior year, the firm posted $0.87 EPS. The firm’s quarterly revenue was down 12.8% compared to the same quarter last year. As a group, equities research analysts forecast that Masimo will post 3.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. StockNews.com upgraded Masimo from a sell rating to a hold rating in a research note on Friday, March 29th. 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. Jefferies Financial Group reaffirmed a hold rating and issued a $121.00 price objective (up previously from $107.00) on shares of Masimo in a research report on Tuesday, January 30th. Stifel Nicolaus raised shares of Masimo from a hold rating to a buy rating and increased their target price for the company from $148.00 to $170.00 in a research report on Monday, April 15th. Finally, Piper Sandler lifted their price target on shares of Masimo from $117.00 to $126.00 and gave the stock a neutral rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Masimo presently has an average rating of Hold and an average price target of $138.71.

Insider Activity at Masimo

In other Masimo news, Director Craig B. Reynolds sold 40,000 shares of the business’s stock in a transaction 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 sale, the director now 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 Securities & Exchange Commission, which is available at this hyperlink. 9.70% of the stock is currently owned by corporate insiders.

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.