Masimo (NASDAQ:MASI) Issues FY 2024 Earnings Guidance

Masimo (NASDAQ:MASI) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 3.440-3.600 for the period, compared to the consensus EPS estimate of 3.520. The company issued revenue guidance of $2.0 billion-$2.2 billion, compared to the consensus revenue estimate of $2.1 billion.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MASI. Jefferies Financial Group reiterated a hold rating and set a $121.00 price objective (up from $107.00) on shares of Masimo in a research report on Tuesday, January 30th. Needham & Company LLC lowered Masimo from a buy rating to a hold rating in a research report on Wednesday, January 3rd. StockNews.com upgraded Masimo from a sell rating to a hold rating in a research report on Friday, March 29th. Stifel Nicolaus upgraded Masimo from a hold rating to a buy rating and raised their price target for the stock from $148.00 to $170.00 in a research report on Monday, April 15th. Finally, Piper Sandler raised their price target on Masimo from $70.00 to $117.00 and gave the stock a neutral rating in a research report on Monday, February 26th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $137.43.

Masimo Price Performance

MASI opened at $134.77 on Monday. The stock’s 50 day simple moving average is $135.66 and its 200 day simple moving average is $114.96. 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 1 year low of $75.22 and a 1 year high of $198.00. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of 89.25 and a beta of 0.97.

Masimo (NASDAQ:MASI) last posted its quarterly earnings results on Tuesday, February 27th. The medical equipment provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.43. The business had revenue of $548.90 million for the quarter, compared to analyst estimates of $545.69 million. Masimo had a return on equity of 13.77% and a net margin of 3.98%. Masimo’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same period last year, the company earned $1.32 EPS. As a group, analysts predict that Masimo will post 3.51 earnings per share for the current year.

Institutional Investors Weigh In On Masimo

A number of large investors have recently made changes to their positions in the business. HighTower Advisors LLC grew its position in shares of Masimo by 3.5% in the 1st quarter. HighTower Advisors LLC now owns 2,138 shares of the medical equipment provider’s stock worth $395,000 after buying an additional 72 shares during the last quarter. Quantinno Capital Management LP grew its position in shares of Masimo by 2.8% in the 4th quarter. Quantinno Capital Management LP now owns 2,719 shares of the medical equipment provider’s stock worth $402,000 after buying an additional 74 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of Masimo by 20.0% in the 1st quarter. Lazard Asset Management LLC now owns 485 shares of the medical equipment provider’s stock worth $70,000 after buying an additional 81 shares during the last quarter. Belpointe Asset Management LLC grew its position in shares of Masimo by 31.4% in the 1st quarter. Belpointe Asset Management LLC now owns 339 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 81 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in shares of Masimo by 7.7% in the 2nd quarter. Captrust Financial Advisors now owns 1,499 shares of the medical equipment provider’s stock worth $196,000 after buying an additional 107 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors.

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.