Masimo (NASDAQ:MASI) Releases Q3 2024 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.810-0.860 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

MASI has been the topic of a number of recent research reports. Piper Sandler increased their target price on Masimo from $160.00 to $165.00 and gave the company an overweight rating in a report on Wednesday, August 7th. Needham & Company LLC reaffirmed a hold rating on shares of Masimo in a research report on Friday, September 20th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $144.67.

Masimo Price Performance

Shares of Masimo stock opened at $133.77 on Thursday. The stock’s fifty day moving average is $116.15 and its 200 day moving average is $124.92. Masimo has a one year low of $75.22 and a one year high of $153.93. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 2.09. The stock has a market cap of $7.11 billion, a P/E ratio of 91.00 and a beta of 0.98.

Masimo (NASDAQ:MASI) last issued its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.09. The business had revenue of $496.30 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $0.62 earnings per share. Sell-side analysts anticipate that Masimo will post 3.87 earnings per share for the current year.

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.