Zacks Research Has Optimistic View of Masimo FY2024 Earnings

by · The Markets Daily

Masimo Co. (NASDAQ:MASI – Free Report) – Equities researchers at Zacks Research lifted their FY2024 earnings per share estimates for shares of Masimo in a report issued on Tuesday, November 26th. Zacks Research analyst I. Bandyopadhyay now expects that the medical equipment provider will earn $4.00 per share for the year, up from their prior estimate of $3.84. The consensus estimate for Masimo’s current full-year earnings is $4.04 per share. Zacks Research also issued estimates for Masimo’s Q4 2024 earnings at $1.39 EPS, Q1 2025 earnings at $0.89 EPS, Q2 2025 earnings at $0.99 EPS, Q4 2025 earnings at $1.25 EPS, FY2025 earnings at $4.20 EPS and FY2026 earnings at $4.84 EPS.

Masimo (NASDAQ:MASI – Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The medical equipment provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.14. The company had revenue of $504.60 million during the quarter, compared to analyst estimates of $502.87 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. Masimo’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business earned $0.63 earnings per share.

MASI has been the subject of several other reports. Piper Sandler boosted their target price on Masimo from $165.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Wells Fargo & Company upped their price objective on shares of Masimo from $160.00 to $171.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Masimo in a research note on Wednesday, November 6th. Stifel Nicolaus reissued a “buy” rating and issued a $190.00 price target (up previously from $170.00) on shares of Masimo in a research note on Friday, November 22nd. Finally, Raymond James upgraded shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price objective on the stock in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $167.00.

Check Out Our Latest Analysis on Masimo

Masimo Stock Down 3.1 %

MASI opened at $172.26 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.11. Masimo has a one year low of $91.60 and a one year high of $178.27. The firm has a market capitalization of $9.22 billion, a P/E ratio of 118.80 and a beta of 0.97. The company has a fifty day moving average price of $145.90 and a 200-day moving average price of $128.73.

Institutional Trading of Masimo

Hedge funds have recently added to or reduced their stakes in the business. Edgestream Partners L.P. bought a new stake in shares of Masimo in the 2nd quarter valued at about $645,000. Simplify Asset Management Inc. boosted its stake in shares of Masimo by 120.4% during the second quarter. Simplify Asset Management Inc. now owns 21,670 shares of the medical equipment provider’s stock valued at $2,729,000 after purchasing an additional 11,838 shares during the period. ING Groep NV grew its holdings in shares of Masimo by 143.3% in the third quarter. ING Groep NV now owns 240,900 shares of the medical equipment provider’s stock worth $32,119,000 after purchasing an additional 141,900 shares during the last quarter. Westfield Capital Management Co. LP increased its stake in shares of Masimo by 23.2% in the third quarter. Westfield Capital Management Co. LP now owns 1,394,056 shares of the medical equipment provider’s stock worth $185,869,000 after buying an additional 262,370 shares during the period. Finally, Thrivent Financial for Lutherans raised its holdings in Masimo by 42.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,217,357 shares of the medical equipment provider’s stock valued at $153,314,000 after buying an additional 360,497 shares during the last quarter. 85.96% of the stock is owned by institutional investors.

Masimo Company Profile

(Get Free Report)

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.

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