Masimo (NASDAQ:MASI) Releases Q1 2024 Earnings Guidance

Masimo (NASDAQ:MASI - Get Free Report) updated its first quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.670-0.740 for the period, compared to the consensus earnings per share 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

Several research firms have weighed in on MASI. Wells Fargo & Company upgraded shares of Masimo from an equal weight rating to an overweight rating and boosted their target price for the company from $117.00 to $160.00 in a report on Monday, March 25th. StockNews.com raised shares of Masimo from a sell rating to a hold rating in a research report on Friday, March 29th. Needham & Company LLC cut shares of Masimo from a buy rating to a hold rating in a research report on Wednesday, January 3rd. BTIG Research increased their price objective on shares of Masimo from $145.00 to $166.00 and gave the stock a buy rating in a research report on Monday, March 25th. Finally, Stifel Nicolaus raised shares of Masimo from a hold rating to a buy rating and increased their price objective for the stock from $148.00 to $170.00 in a research report on Monday. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $137.43.

Masimo Stock Down 1.1 %

Masimo stock traded down $1.56 during mid-day trading on Wednesday, reaching $136.62. 221,295 shares of the company's stock were exchanged, compared to its average volume of 584,581. The company has a market cap of $7.23 billion, a P/E ratio of 90.52 and a beta of 0.97. Masimo has a twelve month low of $75.22 and a twelve month high of $198.00. The company has a quick ratio of 1.22, a current ratio of 2.18 and a debt-to-equity ratio of 0.64. The company has a fifty day moving average of $135.65 and a 200-day moving average of $113.89.

Masimo (NASDAQ:MASI - Get Free Report) last released its earnings results 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. The company had revenue of $548.90 million for 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 firm's quarterly revenue was down 11.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.32 EPS. Sell-side analysts expect that Masimo will post 3.51 EPS for the current year.

Institutional Investors Weigh In On Masimo

A number of hedge funds and other institutional investors have recently modified their holdings of MASI. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Masimo in the 1st quarter valued at $37,000. Belpointe Asset Management LLC raised its stake in Masimo by 31.4% during 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 in the last quarter. UniSuper Management Pty Ltd acquired a new stake in Masimo during the 2nd quarter worth $66,000. Castleview Partners LLC acquired a new stake in Masimo during the 1st quarter worth $69,000. Finally, Lazard Asset Management LLC raised its stake in Masimo by 20.0% during the 1st quarter. Lazard Asset Management LLC now owns 485 shares of the medical equipment provider's stock worth $70,000 after acquiring an additional 81 shares in the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.

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.