Masimo (NASDAQ:MASI) Announces Quarterly Earnings Results

Masimo (NASDAQ:MASI) released its quarterly earnings data on Tuesday. The medical equipment provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.84 by $0.14, Briefing.com reports. Masimo had a return on equity of 14.07% and a net margin of 3.94%. The business had revenue of $504.60 million for the quarter, compared to analyst estimates of $502.87 million. During the same quarter in the prior year, the firm posted $0.63 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Masimo updated its FY24 guidance to $3.95-$4.10 EPS and its Q4 2024 guidance to 1.350-1.500 EPS.

Masimo Stock Performance

Shares of MASI traded down $6.28 during mid-day trading on Thursday, hitting $161.35. The stock had a trading volume of 952,749 shares, compared to its average volume of 683,751. The company has a market cap of $8.58 billion, a PE ratio of 109.76 and a beta of 0.97. The company’s fifty day simple moving average is $132.63 and its two-hundred day simple moving average is $125.88. The company has a quick ratio of 1.15, a current ratio of 2.09 and a debt-to-equity ratio of 0.55. Masimo has a fifty-two week low of $75.36 and a fifty-two week high of $173.90.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MASI shares. Wells Fargo & Company raised their target price on Masimo from $160.00 to $171.00 and gave the stock an “overweight” rating in a research note on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Masimo in a research note on Wednesday. Raymond James raised Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price target on the stock in a research report on Wednesday. BTIG Research upped their price objective on Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Piper Sandler boosted their target price on Masimo from $165.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $152.57.

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.