Masimo Analysts Cut Their Forecasts Following Preliminary Q2 Results

Masimo Corporation MASI reported weak preliminary revenue results for the second quarter.

For the second quarter, the company expects revenues of $453 million- $457 million range (consensus: $553.23 million). The healthcare revenue is expected to be $280 million-$282 million range, and non-healthcare revenue is projected to range $173 million-$175 million.

For 2023, Masimo expects to reduce the lower end of revenue guidance for the healthcare business to $1.30 billion (from $1.45 billion earlier) and projects to decrease revenue guidance for the non-healthcare business to $800 million-$850 million (from $965 million-$995 million guided earlier).

Masimo shares dipped 28% to $106.00 in pre-market trading.

Start Futures Trading Fast — with a $200 Bonus

Join Plus500 today and get up to $200 to start trading real futures. Practice with free paper trading, then jump into live markets with lightning-fast execution, low commissions, and full regulatory protection.

These analysts made changes to their price targets on Masimo following earnings announcement.

Stifel cut the price target on Masimo from $205 to $120. Stifel analyst Rick Wise downgraded the stock from Buy to Hold.
Needham slashed the price target on Masimo from $207 to $136. Needham analyst Mike Matson maintained a Buy rating.

Check This Out: Bank of America, Morgan Stanley And 3 Stocks To Watch Heading Into Tuesday

MASIMasimo Corp

$166.421.69%