Masimo (NASDAQ:MASI) Updates Q2 Earnings Guidance

Masimo (NASDAQ:MASI) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.73-0.79 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

MASI has been the subject of several research analyst reports. Wells Fargo & Company upgraded Masimo from an equal weight rating to an overweight rating and lifted their price objective for the company from $117.00 to $160.00 in a research report on Monday, March 25th. Jefferies Financial Group reissued a hold rating and set a $121.00 price objective (up previously from $107.00) on shares of Masimo in a report on Tuesday, January 30th. StockNews.com raised shares of Masimo from a sell rating to a hold rating in a research note on Friday, March 29th. Stifel Nicolaus raised shares of Masimo from a hold rating to a buy rating and increased their price target for the company from $148.00 to $170.00 in a research note on Monday, April 15th. Finally, Needham & Company LLC restated a hold rating on shares of Masimo in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Masimo has an average rating of Hold and a consensus price target of $138.71.

Masimo Trading Up 3.4 %

MASI traded up $4.14 during trading on Thursday, reaching $124.16. 1,208,349 shares of the company’s stock were exchanged, compared to its average volume of 588,065. The company’s fifty day moving average price is $136.19 and its 200-day moving average price is $119.58. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.22 and a current ratio of 2.18. The firm has a market capitalization of $6.57 billion, a PE ratio of 83.38 and a beta of 0.99. Masimo has a fifty-two week low of $75.22 and a fifty-two week high of $176.29.

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

Insider Activity

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

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.