Masimo (NASDAQ:MASI) Releases Q1 2024 Earnings Guidance

Masimo (NASDAQ:MASI) updated its first quarter 2024 earnings guidance on Wednesday. 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.

Wall Street Analysts Forecast Growth

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

Masimo Stock Down 0.5 %

MASI opened at $135.92 on Friday. Masimo has a 12 month low of $75.22 and a 12 month 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 stock has a market cap of $7.19 billion, a P/E ratio of 90.01 and a beta of 0.97. The stock’s 50 day moving average price is $135.66 and its 200 day moving average price is $114.20.

Masimo (NASDAQ:MASI) last issued its quarterly earnings results on Tuesday, February 27th. The medical equipment provider reported $1.25 earnings per share (EPS) 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 company had revenue of $548.90 million for the quarter, compared to analysts’ expectations of $545.69 million. During the same period last year, the firm earned $1.32 EPS. The firm’s revenue for the quarter was down 11.0% on a year-over-year basis. As a group, research analysts predict that Masimo will post 3.51 earnings per share for the current year.

Hedge Funds Weigh In On Masimo

Hedge funds have recently modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Masimo in the 1st quarter worth $37,000. Belpointe Asset Management LLC grew its holdings in shares of Masimo by 31.4% in the 1st quarter. Belpointe Asset Management LLC now owns 339 shares of the medical equipment provider’s stock worth $63,000 after acquiring an additional 81 shares during the last quarter. UniSuper Management Pty Ltd acquired a new position in shares of Masimo in the 2nd quarter worth $66,000. Castleview Partners LLC acquired a new stake in shares of Masimo in the first quarter worth $69,000. Finally, Lazard Asset Management LLC boosted its position in shares of 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 buying an additional 81 shares during the period. 85.96% of the stock is currently owned by institutional investors and hedge funds.

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.