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 Trading Down 1.4 %

MASI stock traded down $2.00 during midday trading on Tuesday, hitting $136.00. The stock had a trading volume of 1,324,224 shares, compared to its average volume of 561,153. The firm has a market cap of $7.20 billion, a PE ratio of 90.07 and a beta of 0.99. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.18 and a quick ratio of 1.22. Masimo has a 12-month low of $75.22 and a 12-month high of $188.14. The company’s 50-day moving average price is $136.36 and its 200 day moving average price is $119.58.

Masimo (NASDAQ:MASI) last released its earnings results on Tuesday, February 27th. The medical equipment provider reported $1.25 EPS for the quarter, topping the consensus estimate of $0.82 by $0.43. The firm had revenue of $548.90 million during the quarter, compared to analysts’ expectations of $545.69 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 11.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.32 EPS. On average, equities research analysts predict that Masimo will post 3.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MASI shares. Piper Sandler boosted their price objective on shares of Masimo from $70.00 to $117.00 and gave the company a neutral rating in a research note on Monday, February 26th. BTIG Research boosted 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. Stifel Nicolaus raised shares of Masimo from a hold rating to a buy rating and boosted their price objective for the company from $148.00 to $170.00 in a research note on Monday, April 15th. StockNews.com raised shares of Masimo from a sell rating to a hold rating in a research note on Friday, March 29th. Finally, Wells Fargo & Company upgraded shares of 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 report on Monday, March 25th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $137.43.

Insiders Place Their Bets

In other 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 value of $5,446,800.00. Following the completion of the sale, the director now owns 7,406 shares of the company’s stock, valued at approximately $1,008,475.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.