Masimo (NASDAQ:MASI) Issues Q1 2024 Earnings Guidance

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

Shares of MASI stock opened at $136.62 on Thursday. Masimo has a 12-month low of $75.22 and a 12-month high of $198.00. The firm has a market capitalization of $7.23 billion, a price-to-earnings ratio of 90.48 and a beta of 0.97. The business has a 50 day simple moving average of $135.68 and a 200 day simple moving average of $114.05. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.18 and a quick ratio of 1.22.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Piper Sandler increased their price target on Masimo from $70.00 to $117.00 and gave the company a neutral rating in a research note on Monday, February 26th. StockNews.com raised Masimo from a sell rating to a hold rating in a research note on Friday, March 29th. Stifel Nicolaus raised Masimo from a hold rating to a buy rating and raised their price objective for the stock from $148.00 to $170.00 in a research note on Monday. Wells Fargo & Company raised Masimo from an equal weight rating to an overweight rating and raised their price objective for the stock from $117.00 to $160.00 in a research note on Monday, March 25th. Finally, Needham & Company LLC lowered Masimo from a buy rating to a hold rating in a research note on Wednesday, January 3rd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $137.43.

Institutional Trading of Masimo

A number of hedge funds have recently modified their holdings of MASI. American Century Companies Inc. raised its holdings in shares of Masimo by 2.3% during the first quarter. American Century Companies Inc. now owns 8,799 shares of the medical equipment provider’s stock worth $1,281,000 after acquiring an additional 194 shares in the last quarter. Great West Life Assurance Co. Can increased its position in Masimo by 24.0% during the first quarter. Great West Life Assurance Co. Can now owns 59,540 shares of the medical equipment provider’s stock worth $9,049,000 after buying an additional 11,543 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Masimo by 3.9% during the first quarter. Dimensional Fund Advisors LP now owns 226,526 shares of the medical equipment provider’s stock worth $32,977,000 after buying an additional 8,501 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Masimo by 1,011.6% in the first quarter. Canada Pension Plan Investment Board now owns 2,390 shares of the medical equipment provider’s stock valued at $348,000 after purchasing an additional 2,175 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Masimo by 1.5% in the first quarter. Vanguard Group Inc. now owns 4,775,660 shares of the medical equipment provider’s stock valued at $695,050,000 after purchasing an additional 71,918 shares during 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.