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

Masimo (NASDAQ:MASI) announced its quarterly earnings data 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. Masimo had a net margin of 3.98% and a return on equity of 13.77%. The firm had revenue of $492.80 million during the quarter, compared to the consensus estimate of $487.70 million. During the same quarter last year, the firm earned $0.87 earnings per share. The firm’s revenue was down 12.8% compared to the same quarter last year. Masimo updated its Q2 guidance to $0.73-0.79 EPS and its FY24 guidance to $3.54-3.70 EPS.

Masimo Price Performance

NASDAQ:MASI traded down $16.45 during trading hours on Wednesday, reaching $119.55. 779,455 shares of the company traded hands, compared to its average volume of 562,194. Masimo has a 1-year low of $75.22 and a 1-year high of $188.14. The stock has a market cap of $6.33 billion, a P/E ratio of 79.63 and a beta of 0.99. The firm’s 50-day moving average is $136.36 and its 200-day moving average is $119.58. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.18 and a quick ratio of 1.22.

Insider Activity

In other news, Director Craig B. Reynolds sold 40,000 shares of Masimo stock in a transaction dated 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 completion of the sale, the director now directly owns 7,406 shares in the company, valued at $1,008,475.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 9.70% of the company’s stock.

Wall Street Analysts Forecast Growth

MASI has been the topic of several research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Masimo in a research report on Wednesday. BTIG Research boosted 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 upgraded shares of Masimo from a “sell” rating to a “hold” rating in a research report on Friday, March 29th. Stifel Nicolaus upgraded Masimo from a “hold” rating to a “buy” rating and upped their price target for the stock from $148.00 to $170.00 in a report on Monday, April 15th. Finally, Piper Sandler lifted their price objective on Masimo from $117.00 to $126.00 and gave the stock a “neutral” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $138.71.

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.