Masimo (NASDAQ:MASI) Updates Q2 Earnings Guidance

Masimo (NASDAQ:MASI) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.73-0.79 for the period, compared to the consensus earnings per share estimate of $0.80. The company issued revenue guidance of $480-510 million, compared to the consensus revenue estimate of $502.70 million. Masimo also updated its FY24 guidance to $3.54-3.70 EPS.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wells Fargo & Company raised shares of Masimo from an equal weight rating to an overweight rating and raised their price objective for the stock from $117.00 to $160.00 in a report on Monday, March 25th. BTIG Research raised their price objective on shares of Masimo from $145.00 to $166.00 and gave the stock a buy rating in a report on Monday, March 25th. StockNews.com raised shares of Masimo from a sell rating to a hold rating in a report on Friday, March 29th. Needham & Company LLC reissued a hold rating on shares of Masimo in a report on Wednesday. Finally, Piper Sandler raised their price objective on shares of Masimo from $117.00 to $126.00 and gave the stock a neutral rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $138.71.

Masimo Stock Performance

MASI traded down $3.79 during trading on Friday, hitting $120.37. The stock had a trading volume of 221,936 shares, compared to its average volume of 584,131. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.22 and a current ratio of 2.18. The firm has a market capitalization of $6.37 billion, a P/E ratio of 82.23 and a beta of 0.99. The company’s 50-day moving average price is $136.10 and its 200 day moving average price is $119.62. Masimo has a twelve month low of $75.22 and a twelve month high of $174.69.

Masimo (NASDAQ:MASI) last issued its earnings results on Tuesday, May 7th. The medical equipment provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.71 by $0.06. The company had revenue of $492.80 million for the quarter, compared to analyst estimates of $487.70 million. Masimo had a net margin of 3.98% and a return on equity of 13.77%. The business’s revenue was down 12.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.87 EPS. On average, equities research analysts forecast that Masimo will post 3.51 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Craig B. Reynolds sold 40,000 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $136.17, for a total value of $5,446,800.00. Following the sale, the director now directly owns 7,406 shares in the company, valued at approximately $1,008,475.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 9.70% of the company’s stock.

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.