Masimo (NASDAQ:MASI) Releases FY24 Earnings Guidance

Masimo (NASDAQ:MASI - Get Free Report) updated its FY24 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $3.44-3.60 for the period. The company issued revenue guidance of $2.045-2.165 billion. Masimo also updated its Q1 guidance to $0.67-0.74 EPS.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MASI shares. StockNews.com lowered shares of Masimo from a hold rating to a sell rating in a research note on Thursday. Needham & Company LLC lowered shares of Masimo from a buy rating to a hold rating in a research note on Wednesday, January 3rd. Jefferies Financial Group reaffirmed a hold rating and set a $121.00 price target (up previously from $107.00) on shares of Masimo in a report on Tuesday, January 30th. Finally, Piper Sandler raised their price target on shares of Masimo from $70.00 to $117.00 and gave the company a neutral rating in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $117.14.

Masimo Trading Up 1.4 %

NASDAQ MASI traded up $1.86 on Friday, hitting $134.93. 333,485 shares of the stock were exchanged, compared to its average volume of 595,093. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.22 and a current ratio of 2.18. The stock has a fifty day moving average price of $130.49 and a two-hundred day moving average price of $108.59. The firm has a market capitalization of $7.14 billion, a P/E ratio of 89.36 and a beta of 0.95. Masimo has a 52-week low of $75.22 and a 52-week high of $198.00.

Masimo (NASDAQ:MASI - Get Free Report) last issued its earnings results on Tuesday, February 27th. The medical equipment provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.43. The firm had revenue of $548.90 million during the quarter, compared to analyst estimates of $545.69 million. Masimo had a net margin of 3.98% and a return on equity of 13.77%. The business's revenue was down 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.32 earnings per share. Research analysts forecast that Masimo will post 3.51 EPS for the current fiscal year.

Institutional Trading of Masimo

A number of hedge funds have recently added to or reduced their stakes in MASI. HighTower Advisors LLC raised its holdings in Masimo by 3.5% in the first quarter. HighTower Advisors LLC now owns 2,138 shares of the medical equipment provider's stock worth $395,000 after purchasing an additional 72 shares in the last quarter. Quantinno Capital Management LP raised its holdings in Masimo by 2.8% in the fourth quarter. Quantinno Capital Management LP now owns 2,719 shares of the medical equipment provider's stock worth $402,000 after purchasing an additional 74 shares in the last quarter. Lazard Asset Management LLC raised its holdings in 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 purchasing an additional 81 shares in the last quarter. Belpointe Asset Management LLC raised its holdings in Masimo by 31.4% in the first quarter. Belpointe Asset Management LLC now owns 339 shares of the medical equipment provider's stock worth $63,000 after purchasing an additional 81 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in Masimo by 7.7% in the second quarter. Captrust Financial Advisors now owns 1,499 shares of the medical equipment provider's stock worth $196,000 after purchasing an additional 107 shares in 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.