Masimo (NASDAQ:MASI) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Masimo (NASDAQ:MASI) announced its quarterly earnings results on Tuesday. The medical equipment provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06, Briefing.com reports. The company had revenue of $492.80 million during the quarter, compared to analysts’ expectations of $487.70 million. Masimo had a return on equity of 13.77% and a net margin of 3.98%. Masimo’s revenue was down 12.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.87 EPS. Masimo updated its Q2 guidance to $0.73-0.79 EPS and its FY24 guidance to $3.54-3.70 EPS.

Masimo Stock Down 14.0 %

Shares of NASDAQ:MASI traded down $19.08 during trading on Wednesday, hitting $116.92. 1,001,640 shares of the company were exchanged, compared to its average volume of 565,291. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 79.63 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 has a fifty-two week low of $75.22 and a fifty-two week high of $188.14. The firm has a fifty day moving average price of $136.36 and a two-hundred day moving average price of $119.58.

Insider Activity at Masimo

In other Masimo news, Director Craig B. Reynolds sold 40,000 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $136.17, for a total transaction of $5,446,800.00. Following the sale, the director now directly owns 7,406 shares of the company’s stock, valued at $1,008,475.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

MASI has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a research report on Wednesday. Jefferies Financial Group reissued a “hold” rating and issued a $121.00 target price (up from $107.00) on shares of Masimo in a research note on Tuesday, January 30th. Wells Fargo & Company raised Masimo from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $117.00 to $160.00 in a research report on Monday, March 25th. BTIG Research lifted their price objective on Masimo from $145.00 to $166.00 and gave the company a “buy” rating in a report on Monday, March 25th. Finally, StockNews.com upgraded shares of Masimo from a “sell” rating to a “hold” rating in a report on Friday, March 29th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Masimo presently has an average rating of “Hold” and an average price target of $138.71.

Masimo Company Profile

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.