FY2024 Earnings Forecast for Masimo Co. Issued By Zacks Research (NASDAQ:MASI)

Masimo Co. (NASDAQ:MASI - Free Report) - Equities research analysts at Zacks Research lifted their FY2024 EPS estimates for Masimo in a research report issued to clients and investors on Tuesday, August 27th. Zacks Research analyst I. Bandyopadhyay now expects that the medical equipment provider will earn $3.81 per share for the year, up from their previous estimate of $3.59. The consensus estimate for Masimo's current full-year earnings is $3.63 per share. Zacks Research also issued estimates for Masimo's Q4 2024 earnings at $1.35 EPS, Q1 2025 earnings at $0.82 EPS, Q2 2025 earnings at $0.95 EPS, Q3 2025 earnings at $1.13 EPS, Q4 2025 earnings at $1.18 EPS, FY2025 earnings at $4.08 EPS, Q1 2026 earnings at $1.18 EPS, Q2 2026 earnings at $1.17 EPS and FY2026 earnings at $4.42 EPS.

Masimo (NASDAQ:MASI - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.09. Masimo had a return on equity of 13.26% and a net margin of 4.01%. The company had revenue of $496.30 million during the quarter, compared to analysts' expectations of $493.92 million. During the same period last year, the firm earned $0.62 EPS. The firm's revenue for the quarter was up 9.0% on a year-over-year basis.

A number of other research analysts have also issued reports on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Masimo in a research note on Wednesday, August 7th. Piper Sandler lifted their price objective on Masimo from $160.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $144.67.

Masimo Stock Performance

MASI traded down $0.16 during trading on Wednesday, hitting $116.38. The stock had a trading volume of 246,673 shares, compared to its average volume of 660,385. Masimo has a twelve month low of $75.22 and a twelve month high of $153.93. The firm has a market capitalization of $6.19 billion, a P/E ratio of 79.17 and a beta of 0.97. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.31 and a current ratio of 2.31. The company's 50-day moving average price is $116.71 and its 200 day moving average price is $127.01.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. abrdn plc increased its stake in Masimo by 91.8% in the 4th quarter. abrdn plc now owns 14,334 shares of the medical equipment provider's stock valued at $1,680,000 after purchasing an additional 6,862 shares in the last quarter. CWM LLC raised its stake in shares of Masimo by 13.5% during the 4th quarter. CWM LLC now owns 1,318 shares of the medical equipment provider's stock worth $154,000 after buying an additional 157 shares during the last quarter. Mission Wealth Management LP acquired a new position in shares of Masimo during the 4th quarter worth $267,000. M&T Bank Corp purchased a new stake in shares of Masimo in the 4th quarter worth about $279,000. Finally, Private Advisor Group LLC grew its stake in Masimo by 4.3% in the 4th quarter. Private Advisor Group LLC now owns 4,709 shares of the medical equipment provider's stock valued at $552,000 after acquiring an additional 196 shares during the last quarter. 85.96% of the stock is owned by hedge funds and other institutional investors.

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.