Masimo (NASDAQ:MASI) Posts Earnings Results, Beats Estimates By $0.14 EPS

Masimo (NASDAQ:MASI) issued its earnings results on Tuesday. The medical equipment provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.14, Briefing.com reports. Masimo had a net margin of 3.94% and a return on equity of 14.07%. The business had revenue of $504.60 million for the quarter, compared to analyst estimates of $502.87 million. The firm’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business 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 Down 2.4 %

Shares of MASI stock traded down $4.10 on Thursday, hitting $163.53. The stock had a trading volume of 157,500 shares, compared to its average volume of 680,069. The company has a current ratio of 2.09, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. Masimo has a twelve month low of $75.36 and a twelve month high of $173.90. The company has a fifty day moving average price of $131.74 and a two-hundred day moving average price of $125.64. The firm has a market cap of $8.70 billion, a P/E ratio of 114.03 and a beta of 0.97.

Analysts Set New Price Targets

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

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.