Masimo (NASDAQ:MASI) Updates Q2 Earnings Guidance

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

Masimo Stock Performance

Shares of MASI stock traded down $15.98 during trading hours on Wednesday, hitting $120.02. 2,332,545 shares of the company were exchanged, compared to its average volume of 581,284. Masimo has a 52-week low of $75.22 and a 52-week high of $188.14. The firm has a fifty day simple moving average of $136.19 and a 200 day simple moving average of $119.58. The stock has a market capitalization of $6.35 billion, a price-to-earnings ratio of 79.48 and a beta of 0.99. 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 (NASDAQ:MASI) last announced its quarterly earnings data on Tuesday, May 7th. The medical equipment provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. Masimo had a return on equity of 13.77% and a net margin of 3.98%. The company had revenue of $492.80 million for the quarter, compared to analysts’ expectations of $487.70 million. During the same period last year, the firm posted $0.87 EPS. Masimo’s revenue for the quarter was down 12.8% compared to the same quarter last year. Research analysts predict that Masimo will post 3.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Piper Sandler lifted their price target on Masimo from $117.00 to $126.00 and gave the stock a neutral rating in a research report on Wednesday. Needham & Company LLC reissued a hold rating on shares of Masimo in a report on Wednesday. Wells Fargo & Company raised Masimo from an equal weight rating to an overweight rating and increased their price objective for the company from $117.00 to $160.00 in a research report on Monday, March 25th. Stifel Nicolaus raised Masimo from a hold rating to a buy rating and boosted their target price for the stock from $148.00 to $170.00 in a research report on Monday, April 15th. Finally, Jefferies Financial Group reaffirmed a hold rating and set a $121.00 price target (up previously from $107.00) on shares of Masimo in a report on Tuesday, January 30th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $138.71.

Insiders Place Their Bets

In other Masimo news, Director Craig B. Reynolds sold 40,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 7,406 shares in the company, valued at $1,008,475.02. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.70% of the stock is 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.