Masimo (NASDAQ:MASI) Releases Q1 2024 Earnings Guidance

Masimo (NASDAQ:MASI) issued an update on its first quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.670-0.740 for the period, compared to the consensus 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.

Masimo Trading Down 0.8 %

Shares of NASDAQ MASI opened at $134.77 on Friday. 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 stock has a market capitalization of $7.13 billion, a P/E ratio of 89.25 and a beta of 0.97. Masimo has a 1-year low of $75.22 and a 1-year high of $198.00. The business has a fifty day moving average price of $135.66 and a 200 day moving average price of $114.53.

Masimo (NASDAQ:MASI) last issued its quarterly earnings data on Tuesday, February 27th. The medical equipment provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.43. The firm had revenue of $548.90 million during the quarter, compared to analysts’ expectations of $545.69 million. Masimo had a return on equity of 13.77% and a net margin of 3.98%. The firm’s quarterly revenue was down 11.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.32 EPS. Equities research analysts expect that Masimo will post 3.51 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Piper Sandler upped their target price on Masimo from $70.00 to $117.00 and gave the company a neutral rating in a research report on Monday, February 26th. Needham & Company LLC lowered Masimo from a buy rating to a hold rating in a research report on Wednesday, January 3rd. BTIG Research upped their target price on Masimo from $145.00 to $166.00 and gave the company a buy rating in a research report on Monday, March 25th. Jefferies Financial Group reaffirmed a hold rating and set a $121.00 target price (up from $107.00) on shares of Masimo in a research report on Tuesday, January 30th. Finally, Wells Fargo & Company raised Masimo from an equal weight rating to an overweight rating and upped their target price for the company from $117.00 to $160.00 in a research report on Monday, March 25th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $137.43.

Hedge Funds Weigh In On Masimo

A number of hedge funds have recently bought and sold shares of the business. FIL Ltd boosted its position in Masimo by 84.3% during the fourth quarter. FIL Ltd now owns 216,474 shares of the medical equipment provider’s stock worth $25,373,000 after purchasing an additional 99,004 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Masimo by 3.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 18,433 shares of the medical equipment provider’s stock worth $2,161,000 after purchasing an additional 531 shares in the last quarter. Vanguard Group Inc. boosted its position in Masimo by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 4,781,343 shares of the medical equipment provider’s stock worth $560,421,000 after purchasing an additional 26,473 shares in the last quarter. Weiss Multi Strategy Advisers LLC boosted its position in Masimo by 27.7% during the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 12,000 shares of the medical equipment provider’s stock worth $1,407,000 after purchasing an additional 2,600 shares in the last quarter. Finally, Gotham Asset Management LLC boosted its position in Masimo by 1,424.0% during the fourth quarter. Gotham Asset Management LLC now owns 80,056 shares of the medical equipment provider’s stock worth $9,383,000 after purchasing an additional 74,803 shares in the last quarter. Hedge funds and other institutional investors own 85.96% of the company’s stock.

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.