Masimo (NASDAQ:MASI) Issues FY 2024 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 3.800-4.000 for the period, compared to the consensus EPS estimate of 3.880. The company issued revenue guidance of $2.1 billion-$2.1 billion, compared to the consensus revenue estimate of $2.1 billion. Masimo also updated its FY24 guidance to $3.80-4.00 EPS.

Masimo Stock Up 1.3 %

NASDAQ MASI traded up $1.84 on Wednesday, reaching $142.89. The stock had a trading volume of 617,861 shares, compared to its average volume of 673,961. The business has a 50 day moving average price of $128.12 and a 200 day moving average price of $125.01. The company has a current ratio of 2.09, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. Masimo has a 1 year low of $75.36 and a 1 year high of $153.93. The company has a market capitalization of $7.60 billion, a price-to-earnings ratio of 95.95 and a beta of 0.99.

Masimo (NASDAQ:MASI) last announced its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. Masimo had a return on equity of 14.07% and a net margin of 3.94%. The company had revenue of $496.30 million during the quarter, compared to analysts’ expectations of $493.92 million. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, analysts forecast that Masimo will post 3.88 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MASI shares. BTIG Research increased their price target on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Piper Sandler restated an “overweight” rating on shares of Masimo in a research report on Friday, October 18th. Finally, Needham & Company LLC restated a “hold” rating on shares of Masimo in a research report on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $145.33.

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.