Masimo (NASDAQ:MASI) Releases Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Masimo (NASDAQ:MASI) released its quarterly earnings results on Tuesday. The medical equipment provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.14, Briefing.com reports. The firm had revenue of $504.60 million during the quarter, compared to the consensus estimate of $502.87 million. Masimo had a net margin of 3.94% and a return on equity of 14.07%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 EPS. Masimo updated its FY24 guidance to $3.95-$4.10 EPS and its Q4 2024 guidance to 1.350-1.500 EPS.

Masimo Trading Up 7.7 %

Shares of MASI stock traded up $11.69 on Wednesday, hitting $163.25. 1,321,577 shares of the stock traded hands, compared to its average volume of 678,579. Masimo has a twelve month low of $75.36 and a twelve month high of $173.90. The stock has a market capitalization of $8.68 billion, a PE ratio of 105.86 and a beta of 0.97. The firm’s 50-day moving average price is $130.72 and its two-hundred day moving average price is $125.34. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 2.09.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MASI. Needham & Company LLC reissued a “hold” rating on shares of Masimo in a report on Wednesday. Wells Fargo & Company boosted their price target on Masimo from $160.00 to $171.00 and gave the stock an “overweight” rating in a research report on Wednesday. Raymond James upgraded Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price objective on the stock in a report on Wednesday. Piper Sandler upped their target price on shares of Masimo from $165.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, BTIG Research raised their price target on shares of Masimo from $166.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $152.57.

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.