Masimo (NASDAQ:MASI) Updates FY 2024 Earnings Guidance

Masimo (NASDAQ:MASI) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 3.440-3.600 for the period, compared to the consensus EPS estimate of 3.520. The company issued revenue guidance of $2.0 billion-$2.2 billion, compared to the consensus revenue estimate of $2.1 billion.

Masimo Stock Down 0.5 %

Shares of Masimo stock opened at $135.92 on Friday. The business has a 50-day moving average of $135.66 and a two-hundred day moving average of $114.20. Masimo has a 1 year low of $75.22 and a 1 year high of $198.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.18 and a quick ratio of 1.22. The company has a market capitalization of $7.19 billion, a P/E ratio of 90.01 and a beta of 0.97.

Masimo (NASDAQ:MASI) last released its quarterly earnings results on Tuesday, February 27th. The medical equipment provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.43. The company had revenue of $548.90 million during the quarter, compared to analysts’ expectations of $545.69 million. Masimo had a net margin of 3.98% and a return on equity of 13.77%. The business’s quarterly revenue was down 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.32 earnings per share. As a group, equities analysts predict that Masimo will post 3.51 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on MASI. Stifel Nicolaus upgraded shares of Masimo from a hold rating to a buy rating and increased their target price for the stock from $148.00 to $170.00 in a report on Monday. Needham & Company LLC downgraded Masimo from a buy rating to a hold rating in a research note on Wednesday, January 3rd. BTIG Research upped their price objective on Masimo from $145.00 to $166.00 and gave the stock a buy rating in a research note on Monday, March 25th. StockNews.com upgraded shares of Masimo from a sell rating to a hold rating in a report on Friday, March 29th. Finally, Wells Fargo & Company upgraded shares of Masimo from an equal weight rating to an overweight rating and increased their price target for the company from $117.00 to $160.00 in a research note on Monday, March 25th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Masimo presently has an average rating of Hold and an average price target of $137.43.

Hedge Funds Weigh In On Masimo

Institutional investors and hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC boosted its holdings in Masimo by 20.0% in the 1st quarter. Lazard Asset Management LLC now owns 485 shares of the medical equipment provider’s stock valued at $70,000 after purchasing an additional 81 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Masimo by 60.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 229,138 shares of the medical equipment provider’s stock valued at $33,349,000 after buying an additional 86,631 shares during the period. Royal London Asset Management Ltd. boosted its stake in shares of Masimo by 12.7% in the first quarter. Royal London Asset Management Ltd. now owns 16,284 shares of the medical equipment provider’s stock valued at $2,370,000 after buying an additional 1,839 shares during the period. Prudential Financial Inc. boosted its stake in shares of Masimo by 203.0% in the first quarter. Prudential Financial Inc. now owns 38,548 shares of the medical equipment provider’s stock valued at $5,611,000 after buying an additional 25,826 shares during the period. Finally, Federated Hermes Inc. boosted its stake in shares of Masimo by 1.3% in the first quarter. Federated Hermes Inc. now owns 18,215 shares of the medical equipment provider’s stock valued at $2,651,000 after buying an additional 226 shares during the period. Institutional investors and hedge funds own 85.96% of the company’s stock.

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.