Masimo (NASDAQ:MASI) Issues Q1 2024 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its first quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.670-0.740 for the period, compared to the consensus EPS estimate of 0.690. The company issued revenue guidance of $476.0 million-$501.0 million, compared to the consensus revenue estimate of $487.6 million.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Jefferies Financial Group reiterated a hold rating and issued a $121.00 price objective (up previously from $107.00) on shares of Masimo in a report on Tuesday, January 30th. Needham & Company LLC downgraded Masimo from a buy rating to a hold rating in a report on Wednesday, January 3rd. Piper Sandler increased their price objective on Masimo from $70.00 to $117.00 and gave the stock a neutral rating in a report on Monday, February 26th. StockNews.com upgraded Masimo from a sell rating to a hold rating in a report on Friday, March 29th. Finally, BTIG Research increased their price objective on Masimo from $145.00 to $166.00 and gave the stock a buy rating in a report on Monday, March 25th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Masimo presently has an average rating of Hold and a consensus target price of $137.43.

Masimo Price Performance

Shares of NASDAQ:MASI opened at $134.77 on Friday. 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 business has a fifty day moving average price of $135.66 and a 200-day moving average price of $114.53. The company has a market capitalization of $7.13 billion, a PE ratio of 89.25 and a beta of 0.97.

Masimo (NASDAQ:MASI) last issued 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. Masimo had a return on equity of 13.77% and a net margin of 3.98%. The firm had revenue of $548.90 million during the quarter, compared to the consensus estimate of $545.69 million. During the same period last year, the company earned $1.32 earnings per share. The company’s revenue was down 11.0% on a year-over-year basis. As a group, equities analysts expect that Masimo will post 3.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Masimo

Institutional investors have recently modified their holdings of the business. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Masimo during the first quarter valued at $37,000. Belpointe Asset Management LLC boosted its position in shares of Masimo by 31.4% during the first quarter. Belpointe Asset Management LLC now owns 339 shares of the medical equipment provider’s stock valued at $63,000 after buying an additional 81 shares during the last quarter. Castleview Partners LLC purchased a new position in Masimo in the first quarter worth about $69,000. UniSuper Management Pty Ltd purchased a new position in Masimo in the second quarter worth about $66,000. Finally, Lazard Asset Management LLC boosted its position in Masimo by 20.0% in the first quarter. Lazard Asset Management LLC now owns 485 shares of the medical equipment provider’s stock worth $70,000 after purchasing an additional 81 shares during the last quarter. 85.96% of the stock is owned by hedge funds and other institutional investors.

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.