Masimo (NASDAQ:MASI) Announces Earnings Results

Masimo (NASDAQ:MASI) posted its quarterly earnings results on Tuesday. The medical equipment provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06, Briefing.com reports. The business had revenue of $492.80 million for the quarter, compared to analysts’ expectations of $487.70 million. Masimo had a return on equity of 13.77% and a net margin of 3.98%. The business’s quarterly revenue was down 12.8% on a year-over-year basis. During the same period last year, the firm earned $0.87 earnings per share. Masimo updated its Q2 guidance to $0.73-0.79 EPS and its FY24 guidance to $3.54-3.70 EPS.

Masimo Trading Up 2.2 %

Shares of MASI traded up $2.61 during mid-day trading on Thursday, reaching $122.63. 117,653 shares of the company’s stock traded hands, compared to its average volume of 575,456. The stock has a market cap of $6.49 billion, a P/E ratio of 79.48 and a beta of 0.99. The stock’s 50-day moving average is $136.19 and its two-hundred day moving average is $119.58. Masimo has a 12 month low of $75.22 and a 12 month high of $176.29. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.18 and a quick ratio of 1.22.

Insider Activity

In other news, Director Craig B. Reynolds sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $136.17, for a total transaction of $5,446,800.00. Following the transaction, the director now owns 7,406 shares of the company’s stock, valued at $1,008,475.02. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 9.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. StockNews.com upgraded Masimo from a “sell” rating to a “hold” rating in a research report on Friday, March 29th. Needham & Company LLC restated a “hold” rating on shares of Masimo in a research report on Wednesday. Jefferies Financial Group restated a “hold” rating and set a $121.00 price objective (up previously from $107.00) on shares of Masimo in a research report on Tuesday, January 30th. Piper Sandler raised their price objective on Masimo from $117.00 to $126.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Stifel Nicolaus upgraded Masimo from a “hold” rating to a “buy” rating and lifted their price target for the stock from $148.00 to $170.00 in a research report on Monday, April 15th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $138.71.

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.