Masimo (NASDAQ:MASI) Issues Q3 2024 Earnings Guidance

Masimo (NASDAQ:MASI) updated its third quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.810-0.860 for the period, compared to the consensus estimate of 0.830. The company issued revenue guidance of $495.0 million-$515.0 million, compared to the consensus revenue estimate of $502.2 million. Masimo also updated its Q3 guidance to $0.81-0.86 EPS.

Masimo Trading Up 0.1 %

NASDAQ:MASI opened at $133.20 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. The firm has a market cap of $7.08 billion, a PE ratio of 90.61 and a beta of 0.98. The stock has a fifty day moving average price of $116.67 and a 200 day moving average price of $124.97. Masimo has a 12-month low of $75.22 and a 12-month high of $153.93.

Masimo (NASDAQ:MASI) last released its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.09. The business had revenue of $496.30 million during the quarter, compared to analysts’ expectations of $493.92 million. Masimo had a net margin of 3.94% and a return on equity of 14.07%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.62 EPS. Sell-side analysts anticipate that Masimo will post 3.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MASI. Piper Sandler increased their price target on shares of Masimo from $160.00 to $165.00 and gave the company an overweight rating in a research note on Wednesday, August 7th. Needham & Company LLC reiterated a hold rating on shares of Masimo in a research note on Friday, September 20th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $144.67.

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.