Why Masimo Shares Are Dipping Today
Portfolio Pulse from Lekha Gupta
Masimo Corp (MASI) shares are trading lower after the company reported Q2 2023 preliminary results and revised 2023 outlook. The company expects lower revenues than consensus due to delayed orders, lower sensor sales, a decline in customer conversion rate, and rising hospital labor expenses. The company plans to reduce costs in H2 2023 and expects non-healthcare revenues to be below expectations due to demand decline in the audio categories. The company also revised down its 2023 revenue guidance for both healthcare and non-healthcare businesses.
July 18, 2023 | 9:41 am
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Masimo Corp's shares are trading lower due to disappointing Q2 2023 preliminary results and a revised 2023 outlook. The company expects lower revenues and has revised down its 2023 revenue guidance for both healthcare and non-healthcare businesses.
The company's shares are trading lower due to disappointing Q2 2023 preliminary results and a revised 2023 outlook. The company expects lower revenues due to delayed orders, lower sensor sales, a decline in customer conversion rate, and rising hospital labor expenses. The company also revised down its 2023 revenue guidance for both healthcare and non-healthcare businesses, which is likely to negatively impact the stock price in the short term.
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