From NASDAQ, Inc.:

Masimo Corporation MASI released its preliminary financial results for Q4 2023. Shares dropped 0.5% after the announcement. The company is set to release its official Q4 results on Feb 27. Preliminary Q4 revenues are estimated to be between $541 million and $551 million, with full-year consolidated revenues forecasted to be between $2,041 million to $2,051 million.

The company issued its outlook for full-year 2024, expecting consolidated revenues between $2,045 million to $2,165 million and adjusted earnings per share between $3.44 to $3.60. Masimo earned FDA’s clearance in December for Stork for prescription use with healthy and sick infants aged 0-18 months, and in November for the Masimo W1 medical watch for over-the-counter and prescription use.

Despite promising approvals from the FDA, Masimo currently holds a Zacks Rank #5 (Strong Sell) and is updating its non-GAAP financial measure to exclude expenses related to litigation against Apple, effective fiscal year 2024.

Some better-ranked stocks in the broader medical space are DaVita Inc. DVA, Merit Medical Systems, Inc. MMSI and Cardinal Health, Inc. CAH. Masimo shares have gained 33.7% between Oct 1 and Dec 30, 2023, surpassing the industry’s 10.1% rise and the S&P 500’s 10.6% growth.

As the company’s stock continues to perform well, investors can take advantage of the growing demand for lithium batteries in the expanding electric vehicle market. This could lead to significant gains for those targeting this market.



Read more: Masimo (MASI) Posts Preliminary Q4 Results, Issues FY24 View