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

MASI stock opened at $135.92 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 business has a 50-day moving average price of $135.66 and a 200 day moving average price of $114.20. The company has a market capitalization of $7.19 billion, a P/E ratio of 90.01 and a beta of 0.97. Masimo has a 1-year low of $75.22 and a 1-year high of $198.00.

Masimo (NASDAQ:MASI) last released its quarterly earnings data on Tuesday, February 27th. The medical equipment provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.43. The firm had revenue of $548.90 million during the quarter, compared to the consensus estimate 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 previous year, the company posted $1.32 earnings per share. As a group, equities research analysts forecast that Masimo will post 3.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MASI. Wells Fargo & Company upgraded Masimo from an equal weight rating to an overweight rating and lifted their target price for the company from $117.00 to $160.00 in a research note on Monday, March 25th. BTIG Research lifted their target price 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 reiterated a hold rating and issued a $121.00 target price (up previously from $107.00) on shares of Masimo in a research note on Tuesday, January 30th. Stifel Nicolaus upgraded Masimo from a hold rating to a buy rating and lifted their target price for the company from $148.00 to $170.00 in a research note on Monday. Finally, Piper Sandler boosted their price target on Masimo from $70.00 to $117.00 and gave the stock a neutral rating in a research note on Monday, February 26th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $137.43.

Institutional Investors Weigh In On Masimo

Large investors have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. purchased a new stake in Masimo in the fourth quarter valued at approximately $80,154,000. Goldman Sachs Group Inc. boosted its position in Masimo by 92.1% in the second quarter. Goldman Sachs Group Inc. now owns 856,664 shares of the medical equipment provider’s stock valued at $111,940,000 after buying an additional 410,793 shares during the last quarter. Point72 Asset Management L.P. boosted its position in Masimo by 176.7% in the fourth quarter. Point72 Asset Management L.P. now owns 516,356 shares of the medical equipment provider’s stock valued at $60,522,000 after buying an additional 329,712 shares during the last quarter. Norges Bank purchased a new stake in Masimo in the fourth quarter valued at approximately $42,917,000. Finally, Worldquant Millennium Advisors LLC purchased a new stake in Masimo in the first quarter valued at approximately $34,358,000. Hedge funds and other institutional investors own 85.96% of the company’s stock.

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.