Masimo (NASDAQ:MASI) Posts Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Masimo (NASDAQ:MASI) posted its quarterly earnings data on Tuesday. The medical equipment provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.84 by $0.14, Briefing.com reports. Masimo had a return on equity of 14.07% and a net margin of 3.94%. The firm had revenue of $504.60 million for the quarter, compared to the consensus estimate of $502.87 million. During the same quarter last year, the company earned $0.63 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Masimo updated its FY24 guidance to $3.95-$4.10 EPS and its Q4 2024 guidance to 1.350-1.500 EPS.

Masimo Trading Down 3.7 %

MASI opened at $161.35 on Friday. The firm has a market cap of $8.58 billion, a price-to-earnings ratio of 109.76 and a beta of 0.97. 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 12 month low of $75.36 and a 12 month high of $173.90. The stock has a fifty day moving average price of $132.63 and a 200-day moving average price of $125.88.

Analyst Ratings Changes

Several brokerages recently issued reports on MASI. Wells Fargo & Company lifted their target price on Masimo from $160.00 to $171.00 and gave the company an “overweight” rating in a research note on Wednesday. Raymond James upgraded Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price target for the company in a report on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Masimo in a report on Wednesday. BTIG Research raised their price target on Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Piper Sandler lifted their target price on Masimo from $165.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.57.

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.