Medical tech company Masimo (NASDAQ: MASI) will be reporting results this Tuesday after market hours. Here’s what you need to know.
Masimo beat analysts’ revenue expectations by 0.6% last quarter, reporting revenues of $370.9 million, up 7.9% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ constant currency revenue estimates and an impressive beat of analysts’ full-year EPS guidance estimates.
Is Masimo a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Masimo’s revenue to grow 6.8% year on year to $366.5 million, a reversal from the 28.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.20 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Masimo has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Masimo’s peers in the patient monitoring segment, some have already reported their Q3 results, giving us a hint as to what we can expect. iRhythm delivered year-on-year revenue growth of 30.7%, beating analysts’ expectations by 4.6%, and DexCom reported revenues up 21.6%, topping estimates by 2.5%. iRhythm traded up 1.6% following the results while DexCom was down 14.6%.
Read our full analysis of iRhythm’s results here and DexCom’s results here.
Investors in the patient monitoring segment have had steady hands going into earnings, with share prices flat over the last month. Masimo is down 5% during the same time and is heading into earnings with an average analyst price target of $187.57 (compared to the current share price of $140.65).
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