Masimo (NASDAQ:MASI) Issues FY24 Earnings Guidance

Masimo (NASDAQ:MASI - Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $3.80-4.00 for the period, compared to the consensus estimate of $3.88. The company issued revenue guidance of $2.085-2.135 billion, compared to the consensus revenue estimate of $2.10 billion. Masimo also updated its FY 2024 guidance to 3.800-4.000 EPS.

Analysts Set New Price Targets

Several research firms have recently commented on MASI. Piper Sandler restated an "overweight" rating on shares of Masimo in a research note on Friday, October 18th. BTIG Research lifted their target price on shares of Masimo from $166.00 to $170.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Masimo in a report on Friday, September 20th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $145.33.

Masimo Stock Up 0.2 %

NASDAQ MASI traded up $0.34 during midday trading on Tuesday, hitting $141.05. 273,214 shares of the company traded hands, compared to its average volume of 674,230. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.09 and a quick ratio of 1.15. The company has a market cap of $7.50 billion, a PE ratio of 95.72 and a beta of 0.99. Masimo has a 52 week low of $75.36 and a 52 week high of $153.93. The company's 50-day simple moving average is $127.74 and its 200-day simple moving average is $124.99.

Masimo (NASDAQ:MASI - Get Free Report) last announced its earnings results on Tuesday, August 6th. The medical equipment provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.09. The firm had revenue of $496.30 million for the quarter, compared to the consensus estimate of $493.92 million. Masimo had a return on equity of 14.07% and a net margin of 3.94%. The firm's revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.62 EPS. As a group, equities research analysts forecast that Masimo will post 3.88 earnings per share for the current year.

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.

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